Fast Flow of Business Credit through the E-Commerce & Super App

The government hooked up Gojek, Grab, Tokopedia, and Shopee to distribute People’s Business Credit (KUR) to Micro, Small and Medium Enterprises (MSMEs). This step is considered to be able to speed up the loan distribution process. The total KUR channeled through the four startups is IDR 31.08 billion, which will be given to 294 debtors.

Distribution is carried out by BNI, BRI and Bank Mandiri. Pilarmas Investindo Sekuritas analyst Okie Ardiastama said the four digital service providers could speed up the KUR distribution process. This is because “the banking challenge so far has been to be careful in channeling funds,” he said, Friday (25/9).

Meanwhile, MSMEs that are partners of Gojek, Grab, Tokopedia, and Shopee have transaction records. This report can be a consideration for banks in assessing credit risk. “So far, UMKM activists are more inclined to sell online. Hopefully, this cooperation will make the national economic recovery fund (PEN) more targeted,” said Okie.

LD FEB UI Associate Director I Dewa Gede Karma Wisana also had time to say, MSMEs that sell online have assessment reports from consumers. This data and sales transactions can be considered by the bank.

The Data States that MSMEs Selling Online are Easier to Receive Loans

The Center for Strategic and International Studies (CSIS) and Tenggara Strategics studies also show that it is easier for MSMEs to sell online to get loans. This report is based on a survey of 5,008 respondents, who are Grab partners, both GrabBike, GrabCar, and GrabFood.

As many as 46% of GrabBike partners, 34% GrabCar, and 50% GrabFood claimed to be able to borrow money more easily from banks and financial technology (fintech lending), after joining Grab. The same thing was conveyed by the Minister of Cooperatives and Small and Medium Enterprises, Teten Masduki.

“Business development data will be recorded digitally,” he said, last June (29/6). Therefore, the government is targeting 10 million MSME players to enter the digital ecosystem by the end of this year. At least one million entrepreneurs penetrated the digital platform from March to early July, so that the total has almost reached the target.

BRI has actually hooked Grab and Shopee to distribute KUR outside the PEN program, since last May. The company distributed KUR of IDR 43.2 trillion to 1.5 million debtors per April, or an average of IDR 10.8 trillion per month.

The amount increased to IDR 56 trillion for two million borrowers as of June. The value increased by IDR 12.8 trillion after about a month and a half of collaborating with Grab and Shopee. He hopes that the collaboration with Grab and Shopee can make it easier for people to access KUR financing.

“It also increases absorption,” said Supari as quoted from a press release last May (15/8). The company noted that there were 5,898 MSME partners of Grab, Gojek, Tokopedia, and Shopee that had applied for KUR loans.

Startup Collaborates with Banks to Distribute KUR

Apart from BRI, Bank Mandiri has partnered with Bukalapak to disburse loans since March 2019. The company provided loans of IDR 2.8 billion to more than 60 borrowers within two months of partnering. The state-owned bank has also partnered with Tokopedia and Shopee since July, then partnered with payment fintech, LinkAja earlier this month.

Gojek participated in the distribution of KUR with 0% interest. “We will reach tens of thousands of business partners, starting with GoFood,” said Shinto, Friday (25/9). Gojek has more than 500 thousand GoFood partners and 600 thousand through GoBiz. Meanwhile, Grab has been working with BRI to distribute KUR since May.

However, President of Grab Indonesia Ridzki Kramadibrata did not explain the credit distribution process. “Currently, around 22 thousand GrabFood partners and GrabKios agents meet the criteria and become potential debtors,” said Ridzki. Grab wants to attract more MSMEs to be able to access KUR.