"Modalku" Targets Business Actors With No Bank Access

By : Hariyanto And Aldi Firhand. A | Friday, January 26 2018 - 22:30 IWST

Modalku Press Conference (Herlambang / INDUSTRY.co.id)
Modalku Press Conference (Herlambang / INDUSTRY.co.id)

INDUSTRY.co.id - Jakarta - Modalku, as a lending and borrowing service provider based on information technology will focus on targeting micro, small, and medium enterprises (SMEs) that are "unbankable" or have no access to finance.

"We are bridging an unbankable society and running a 'marketplace' business that brings together businesses and lenders In the future we will scale up to make loans more accessible," said Chief Executive Officer (CEO) Modalku, Reynold Wijaya in Jakarta, Thursday (25/1/2018).

Modalku is a trademark of PT Mitrausaha Indonesia Group, which was launched in January 2016 and supports MSME market in Jakarta, Bogor, Depok, Tangerang and Bekasi.

Starting in January 2017, Modalku expanded its service to Bandung area and since May 2017 to Surabaya area. MSME borrowers can apply for a business loan without collateral up to Rp 2 billion.

In addition to Indonesia, Modalku as a borrowing service based on information technology borrowing has also been operating in Singapore and Malaysia under the name Funding Societies.

Collectively, Modalku and Funding Societies have disbursed Rp1 trillion in loans to more than 2,000 MSMEs with approximately 45 thousand lenders.

Especially for in Indonesia, Modalku has channeled more than Rp540 billion to about 1,500 UMKM loans.

Meanwhile, Chief Operating Officer (COO) of Modalku Iwan Kurniawan said the need for credit in Indonesia still lacks funding of Rp1,000 trillion per year.

Data from the Financial Services Authority showed that credit needs for MSMEs in Indonesia amounted to Rp1,700 trillion per year. Currently, the existing financial institutions are only able to meet Rp700 trillion.

Iwan said the mutual funding of mutual cooperation in the network has contributed more than Rp2.5 trillion throughout 2017 in Indonesia.

News Comment

Today's Industry

The President Director of PT Honeywell Indonesia, Roy Kosashi, clarified many kind of leading technology for Indonesia’s New Capital City, in Jakarta on Tuesday (29/11/2022). (Photo: PT Honeywell Indonesia)

Rabu, 30 November 2022 - 19:28 WIB

Honeywell Ready to Support Indonesia’s New Capital City with Sustainability Technologies and Solutions

Honeywell announced today that it is Ready Now to support the Nusantara Capital Authority (OIKN) in realizing their goal of making a sustainable and smart forest city. OIKN is the government…

PT Dharma Polimetal ("Dharma Group") Triputra Group automotive component manufacturing company.

Senin, 28 November 2022 - 12:15 WIB

DRMA Remains Optimistic 2023 Automotive Still Rises, Targets Sales Up 20%

PT Dharma Polimetal Tbk (“DRMA”), a listed company engaged in automotive component manufacturing business sees the prospects for the automotive business in 2023 will still remain promising.…

Alvara Research

Sabtu, 26 November 2022 - 06:20 WIB

Turnover Rises High, Culinary MSMEs No Problem Paying OFD Platform Commissions

Online food delivery (OFD) services have accelerated the growth of food and beverage (F&B) MSMEs in Indonesia by 1.9 times faster compared to offline sales. OFD platforms enable MSMEs to have…

Tribe Bali Kuta Beach — Photo by Accor

Kamis, 24 November 2022 - 20:43 WIB

Empty

Empty

A Health exhibition of Banten Province on November 3-5, 2022 at ICE BSD, South Tangerang, Banten. (Photo: Banten Province PR)

Jumat, 18 November 2022 - 16:14 WIB

Premier Bintaro Hospital Assigned as Banten Medical Tourism Hospital

Banten Province hosted the 58th National Health Day by holding a health exhibition on November 3-5, 2022 at the Indonesia Convention Exhibition (ICE) BSD, South Tangerang, Banten.