Financial Technology Startups Recorded Loan Distribution Still Growing
Loan-lending financial technology companies (peer-to-peer lending) still survive during the current coronavirus pandemic. Modalku, Amartha, Akseleran, until Investree claimed that the loan distribution was still stable and still growing.
In fact, some of them say that it is tighter in credit approval. They also implemented a loan restructuring policy especially micro and medium enterprises (SMEs) whose business was affected by corona.
Modalku’s co-founder & CEO Reynold Wijaya said that until now the company has distributed business loans of IDR 15.5 trillion to MSMEs in Indonesia, Singapore, and Malaysia.
He said Modalku continued to try to support the MSMEs to survive in the pandemic. Modalku noted that around 2% of active borrowers on the platform had proposed restructuring and were being processed by the company team.
The sector that has the most loans on its platform is in the field of trade, both large and retail traders. Noted, to date has distributed loans to more than 2.4 million borrowers (borrowers) through more than 100 thousand lenders (lenders).
Amartha Noted an Increase in Funding Requests
Meanwhile, Amartha Aria Widyanto, Chief Risk and Sustainability Officer, said that during the corona pandemic, funding requests to his platform had increased very rapidly. Noted, on the company’s website has distributed loans of IDR 2.43 trillion.
Amartha also tightened credit approval and disbursement (distribution) based on the distribution area of Covid-19, namely for the red zone area the company stopped operations.
In the yellow zone, the company has a free pay alias. Furthermore, for the green zone region, the company only carries out a policy of channeling funding in this region.
Aria said, the company also included a blacklist on the types of businesses that had a dependency on normal conditions before the corona pandemic. “At present the business sector that most requests for loans are from the informal trade sector, such as food stalls and groceries,” said Aria.
Akseleran Recorded a Green Report Card in the First Quarter of 2020
Accelerated CEO & Co-Founder Ivan Tambunan said the company managed to record a ‘green report card’ in the first half of 2020. From January to June this year, the platform had channeled a total business loan of IDR 354 billion, or grew 6% in the same period of the year.
Ivan said the loan was distributed to more than 2,100 borrowers. Much of the growth was supported by performance in the first quarter of 2020, which increased by 28% from the same period last year.
According to him, the easing of Large Scale Social Restrictions (PSBB) and the new normal era also had an impact on increasing lending on the platform. Last month (June 2020) lending increased 13% from last year.
Cumulatively, Akseleran has disbursed a total business loan of IDR 1.26 trillion with the SME sector with the most loans coming from Engineering / Construction (25%), and mining and oil & gas, and the rest is fairly evenly distributed in various other sectors.
Meanwhile, for the ten largest provinces of Acceleration in the distribution of business loans, he said, sequentially there were in DKI Jakarta, Banten, West Java, Central Java, East Java, DI Yogyakarta, Riau, Southeast Sulawesi, South Sumatra, and Central Kalimantan.
Investree’s Loan Distribution Remains Good despite the Pandemic
Co-founder and CEO Investree Adrian Gunadi said the company’s loan distribution in the first quarter reached IDR 4.644 trillion. Then, in April it was IDR 5.019 trillion and in May it was Rp 5.114 trillion.
“So, when viewed from the graph, the first quarter of this year, April and May, our growth (lending) is still good, remains stable despite a corona pandemic,” Adrian said in a video conference on Thursday (2/7).
Meanwhile, on the Investree website, the distribution of loans to date reached Rp 6 trillion, which has been distributed to 1,371 borrowers and 325 active borrowers.