Cooperating with Modalku, Bank Mayapada Distributes Credit for MSMEs

The form of cooperation carried out is with a credit distribution system of IDR 250 billion

JAKARTA – Bank Mayapada signed a Cooperation Agreement with digital funding platform Modalku. This is a form of support for the economic growth of the people.

Meanwhile, the form of cooperation carried out is with a credit distribution system of Rp. 250 billion through Modalku with the role of Bank Mayapada as the financier (lender) institutions.

President Director of Bank Mayapada, Hariyono Tjahjarijadi said the collaboration between Bank Mayapada and Modalku is one of Bank Mayapada’s steps to support the national economic recovery (PEN) through access to capital. Especially for MSME actors from various sectors which are the pillars of the Indonesian economy.

“We are optimistic that the collaboration with Modalku can contribute to MSME players considering the last few years” fintech become a business model that has the advantages of flexibility, security, and efficiency, so that it can complement each other’s financial ecosystem in Indonesia,” Hariyono said in an official statement received. Validnews, Friday (22/10).

Data from the Financial Services Authority (OJK) states that MSME loan growth is again in the expansion zone with growth of 1.93% on an annual basis (year on year/yoy) as of July and grew 2.7% (yoy) in August.

Meanwhile, Modalku Co-Founder & CEO, Reynold Wijaya said it was an honor for Modalku to be able to collaborate with Bank Mayapada.

“We see that there is a common vision with Bank Mayapada to expand access to capital so that it becomes the right opportunity for Modalku to be able to reach more MSMEs and contribute to increasing financial inclusion,” explained Reynold.

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Modalku, he said, provides access to funding for MSMEs starting from the micro segment, including entrepreneurs online and the SME segment which already has a more stable turnover.

According to Reynold, Modalku not only supports businesses that already have a business license (PT/CV), but also individual businesses with a variety of products tailored to the characteristics and needs of MSMEs.

“To date, the Modalku Group has disbursed loans of more than IDR 26.4 trillion to more than 4.8 million MSME loan transactions in Indonesia, Singapore, Malaysia and Thailand,” he said.

For your information, the cooperation agreement was carried out at the Mayapada office on Tuesday (19/10) and was signed by the President Director of Bank Mayapada, Hariyono Tjahjarijadi and Modalku Co-Founder & CEO, Reynold Modalku.

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