BANDUNG - Bukalapak collaborated with the Government Investment Center (PIP) of the Ministry of Finance of the Republic of Indonesia and the Telecommunications and Information Accessibility Agency (BAKTI) of the Ministry of Communication and Information of the Republic of Indonesia to finance Mitra Bukalapak's business loans known as Ultra Micro (UMi) financing programs.
Through the Bukalapak press release, it was stated that the Launch of the Ultra Micro Financing Digitization Program was held on December 11, 2018 in the Dhanapala Building Ministry of Finance of the Republic of Indonesia.
This collaboration will target hundreds of thousands of Bukalapak Partners spread throughout Indonesia to obtain facilities and access to capital for the development of their businesses. The UMi loan that has been given can be used by Bukalapak Partners to buy the needs of their stalls such as basic necessities and others in the Bukalapak application.
In addition, the capital can also be used to serve people who want to make payments such as BPJS, PDAM, PLN and so on. This collaboration aims to make micro-businesses and also Bukalapak Partners more competitive with other large businesses. This is in line with the mission carried out by Bukalapak, namely to raise the class of stalls in Indonesia.
The funding of UMi is an advanced stage program from social assistance programs to become business independence that targets micro enterprises in the lowest level, which cannot yet be facilitated by banking through the People's Business Credit (KUR) program. UMi provides a maximum financing facility of Rp10 million per customer and is channeled by Non-Bank Financial Institutions (LKBB). The source of funding comes from the state budget, the contribution of local governments and financial institutions, both domestic and global.
Fajrin Rasyid as Bukalapak's Co-Founder and President said that empowering people from the grass roots is one of our missions at Bukalapak.
"We want micro businesses such as Bukalapak stalls or partners to be able to go up to class with Bukalapak with the use of technology. This partnership is expected in the future that Mitra Bukalapak can help the government so that loan recipients are on target, "said Fajrin.
Fajrin added that UMi loans will be given in cashless ways combined with the technology owned by Mitra Bukalapak. This can help the government to track the use of the loan so that the loan can be used to increase the productivity and competitiveness of stall businesses so they can go up to class. jo