Akulaku to Release Productive Credit Scheme
Initial target expected to reach 20% of the total distribution
Akulaku is entering the productive credit industry by targeting online SME merchants. The company also provide loans for car installment. Both products are to be released by the end of this year.
Akulaku Indonesia's Director of Corporate Affairs and Public Relations, Anggie Setia Ariningsih said, this segment has great potential. In addition to the bigger ticket size, also the paid-off rate is highly guaranteed.
The company has a bigger potential to acquire more potential borrowers. "We want to support [the government's plan]. The plan is to release SME and car loans by the end of this year." She said, Mon (7/1)
Both products are to distribute loans starts from Rp50 million. In terms of interest and tenor, she has no further details on it. The tenor might starts from 6 months to 1 year.
They set an ambitious target for the contribution of the productive segment, up to 20% of the total distribution. In average, Akulaku has distributed loans of Rp1.5 trillion per month.
In terms of SME, they shouldn't have to be active merchants in Akulaku. They should at least one of the active merchants in an e-commerce platform, for Akulaku can have a calculation of the track record.
The company is to acquire e-commerce platform to get potential buyers. While the car installment only requires pink slip pledging. If it includes collateral, the loans can get bigger.
"It's not the same with a consumer loan, there's a transaction history in our system. Without track records, it's going to be hard for the productive credit. Therefore, the merchant should at least active in one e-commerce."
Talking about risk, he said it's kind of similar to the consumer loan. Once the borrower is approved or not. It applies to the productive credit, it only requires business eligibility and domicile.
"The challenge is there, but also massive data [online] we can get to explore, whether the business is legit or not. I can't tell how big the risk is. But this [productive] has a longer tenor and bigger value "
Akulaku is said to distribute Rp9.8 trillion loans by last year. Anggie believes the business can grow two to three times better than the previous year.
For the download rate, Akulaku has been downloaded over 20 million, increased from the previous year of 15 million. Before Akulaku, Kredit Pintar has first announced the business shifting to the productive industry.
–Original article is in Indonesian, translated by Kristin Siagian