JAKARTA - The public's need for investment and capital is increasing in line with efforts to recover the Indonesian economy and the growth of MSMEs. According to the business scale in semester 1 2022, MSME loans for micro scale grew 115.7% (yoy) to Rp420.7 trillion, followed by MSME loans for small-scale businesses which also grew 22.7% (yoy) to Rp 464. 6 trillion. The growth of MSMEs is one of the drivers of Indonesia's economic growth.

Loan Market as a financial aggregator contributes to Indonesia's economic development through the provision of various services that can be tailored to the needs of individuals and companies, one of which is the Invoice Financing product. Invoice financing is working capital financing by pledging an invoice or PO or SPK, and usually without any asset collateral. Invoice Financing can be a solution for MSMEs to keep running their business while waiting for payments (receivables) from clients / customers.

Loan Market officially cooperates with Akseleran to market Invoice Financing products. Akseleran is an Indonesian P2P Lending crowdfunding platform that connects SMEs that need loans to develop their businesses.

Christopher Gultom, Chief Credit Officer & Co-Founder of Akseleran, said that Akseleran continues to be committed to providing easy access to business capital loans to MSMEs in Indonesia. To date, Akseleran has disbursed a cumulative total of more than Rp5.6 trillion in business loans to around 4 thousand borrowers.

“By the end of this year, we are targeting a total business loan of IDR 3.2 trillion with an NPL ratio of below 1%. Currently, we are supported by more than 190 thousand individual lenders (retail lenders) spread evenly from Aceh to Papua, and dozens of institutional lenders from banks and other Financial Services Institutions (LJK), including BPRs," added Christopher.

The collaboration with Akseleran officially adds Loan Market partners to 35 financial institutions (lenders) from banking, multifinance, fintech, and cooperatives. Established since 2017, Loan Market currently has 22 branch offices and more than 200 Loan Advisers spread across major cities in Indonesia. Loan Market has been officially registered with the Financial Services Authority since 2019. Loan Market provides consulting services with various products such as Home Loans, Multipurpose, Business Capital Loans, Deposits, Investment Loans and Take Over Loans. (LM)