JAKARTA - The Modalku Group has disbursed loans of IDR24.6 trillion to more than 4.6 million MSME loan transactions in Indonesia, Singapore, Malaysia and Thailand. This is supported by the number of disbursements in the first semester of 2021 amounting to more than IDR4.2 trillion. Modalku Group's loan disbursement figures are still quite stable and even show consistency to grow. This can be seen from the amount of disbursement of funds since the first semester of 2020 which has grown by 60% to date.
During semester I-2021, the MSME industry that was funded the most by Modalku was the trade sector, both wholesale and retail, including online entrepreneurs with a percentage of around 65%, followed by the service sector at 17%, and the health sector at 15%. The fund distribution area is also not limited to the island of Java, but also outside the island of Java which can be realized through collaboration with various digital platforms as Modalku partners.
Modalku's Co-Founder & COO, Iwan Kurniawan said, "2021 is expected to be an opportunity for economic revival in Indonesia and the development of Modalku. The government has recently implemented a policy of Imposing Emergency Community Activity Restrictions (PPKM) to tighten community activities in several cities. This policy will more or less affect MSMEs. In response to this situation, Modalku will continue to communicate and discuss with MSMEs to find solutions that can continue to support MSME needs in developing their businesses during the pandemic."
To date, more than 200 thousand lenders, both individuals and institutions, have contributed to lending funds to MSMEs through Modalku with the number of accounts still dominated by individual lenders. Lenders can earn interest rates of up to 17% per year depending on the loan being funded and the risk tolerance of each lender. During semester I-2021, lenders were dominated by Generation Z and millennials by 60% with an average increase in the number of new lenders by 1,000 accounts per month. (LM)