Modalku and Buka Pengadaan Collaborates for MSME Financing

Modalku collaborates with Bukalapak regarding the financing of MSMEs in the BukaProcurement ecosystem. MSMEs in the ecosystem can get financing of up to IDR 500 million with a loan duration (tenor) of up to 60 days. 

This collaboration provides convenience for MSME actors who have joined the BukaPengadaan ecosystem, both buyers and vendors, in obtaining business capital financing. 

Especially in the midst of the Covid-19 pandemic, which is still ongoing, so that MSMEs can continue to grow without worrying about cash flow problems. 

The signing of a memorandum of understanding (MoU) between BukaProcurement and Modalku was carried out at the end of July 2021. Represented by Modalku’s Head of Growth and Partnership Arthur Adisusanto and BukaProcurement Director Hita Supranjaya. 

The collaboration targets financing for hundreds of MSMEs, both from the buyer and vendor categories in the BukaPengadaan ecosystem. 

Modalku’s Head of Growth and Partnership Arthur Adisusanto said, this collaboration is one of the company’s steps to invite MSMEs to #BangkitBersinar and continue to grow at this time. 

Modalku continues to strive to be the digital funding platform of choice for MSMEs by providing services that suit the needs and characteristics of their respective businesses. 

“Together with BukaPengadaan from Bukalapak, we are committed to meeting the needs of businesspeople in terms of procurement of goods. We hope that this synergy can be one of the solutions to the obstacles faced by MSME actors in the midst of the Covid-19 pandemic,” said Arthur through his statement, Wednesday (18/8). 

He said, the joining of Modalku to the financing sector for MSME actors in the BukaProcurement ecosystem in the midst of this pandemic situation is a form of the company’s concern for the community affected by Covid-19. In addition, it is a strategic step in building financing inclusiveness in Indonesia. 

Modalku Trying to Reach MSME Ecosystems throughout Indonesia 

In realizing financial inclusion, Modalku does not only focus on channeling financing to one ecosystem, but also seeks to reach every business and MSME ecosystem in Indonesia. 

Cooperation with BukaPengadaan opens up opportunities for every MSME actor to be able to access the Modalku page, either directly or through business partners. Meanwhile, BukaPengadaan Director Hita Supranjaya expressed his enthusiasm for the collaboration. 

Following Bukalapak’s mission to be able to bring economic justice to all, BukaPengadaan also always strives to be able to advance and strengthen MSMEs in the e-procurement sector. 

“This collaboration with Modalku can provide additional financing options for MSME actors in the midst of the Covid-19 pandemic to continue to develop their business. We hope that this collaboration will bring greater benefits and added value for the progress of MSMEs and the welfare of the wider community,” said Hita. 

The requirements for applying for a loan at Modalku for MSMEs in the Buka Pengadaan ecosystem include having a business in the form of a PT/CV business. 

Have a business domicile or head office in Greater Jakarta, Bandung and Surabaya. Has been in business for more than six months. As well as attaching supporting documents, such as identity and financial data. 

Protect Lenders from Defaulting, Modalku Releases Protected Loans 

The Modalku peer-to-peer (P2P) lending financial technology platform created by PT Mitrausaha Indonesia Group is a new funding product titled Protected Loans that provides protection for principal and funding benefits to provide more security for lenders (lenders). 

This product, which is effectively protected by Modalku insurance partners such as Qoala Insurtech, accommodates dependent funds when the borrower experiences late payments or fails to pay, without any additional costs for protection benefits. 

Modalku Co-Founder & CEO Reynold Wijaya revealed that this product was present considering the needs and challenges in the Covid-19 pandemic, where he was aware of the trend of adjusting the risk profile of Modalku lenders.