Fintech Startup Investree Gets Bank BJB to Become an Institutional Lender
Investree, a fintech startup just signed a Loan Channeling Cooperation Agreement with PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk or Bank BJB. This step, according to Investree, will strengthen financial support for Small and Medium Enterprises (SMEs) in West Java.
Through this collaboration, Bank BJB officially joined as an Institutional Lender at Investreewith the same vision and mission: implementing efforts to empower SMEs in Indonesia, especially Bandung and West Java during the current economic recovery period.
We have been waiting for a partnership with Bank BJB for a long time. Regarding the function of fintech startups for banking and vice versa, there is no need to ask again that we exist to complement each other, said Investree’s Co-Founder & CEO, Adrian Gunadi.
Bank BJB, according to Adrian, will increase Investree’s strength in providing financial support for more West Java business actors in the Investree ecosystem.
In line with Investree’s umbrella campaign #KollaborasiuntukTumbuh, through this loan channeling partnership, we believe that SMEs in West Java can be more empowered and resilient after the pandemic, said Adrian.
SMEs in Bandung and West Java
This collaboration will also make it easier for Bank BJB as an Institutional Lender to fund loan offers submitted by Borrowers on the Investree platform, the majority of whom are SME activists from various business sectors, especially business entities that have not met banking requirements in obtaining loans and are domiciled in Bandung and West Java.
Based on the fact sheet that will be provided by the Investree, Bank BJB will choose a loan offer according to their preferences and risk profile.
The distribution of financing is not limited to certain business sectors for now. This means that Borrowers from any line of business have the opportunity to get financing from Bank BJB.
A number of banking entities and other financial institutions that have become institutional lenders at Investree are Bank BRI, Bank Mandiri, Bank Danamon, Bank Raya, Bank Jago, Accial Capital, Saison Modern Finance, and GMO Payment Gateway.
Registered For Financing Program
Meanwhile, in the Panon Jabar program, Investree is one of the registered platforms for financing programs on the Electronic Procurement Service (LPSE) procurement site and the e-catalogue of the West Java Provincial Government along with several other platforms under the auspices of AFPI.
The West Java SME players who won the tender on the LPSE procurement site and the e-catalogue of the West Java Provincial Government can get financing of up to IDR 2 billion with a tenor of up to 6 months.
In addition, competitive interest rates start from 12 percent p.a.; does not require collateral in the form of fixed assets; online, fast, and transparent application process; and automatic project verification.
This activity was held at the West Java Governor’s Office and was also attended by West Java Governor Ridwan Kamil and several other officials.
In his remarks, West Java Governor Ridwan Kamil hopes that this collaboration will bring SME friends who won the tender, have SPK, and have good business quality, can be financed so that their business can grow and be able to move up class.
Moreover, West Java is one of the areas with massive MSME digitization. As evidence, OJK data states that West Java is the second largest region after Jakarta, where until December 2021, the value is IDR 79 trillion to more than 146 million borrowers, aka 26 percent of the distribution of the entire P2P lending fintech industry.
The collaboration carried out by many parties including the West Java Provincial Government, AFPI, OJK, and LKPP/LPSE is one of the efforts to strengthen the large SME and financial community in West Java