JAKARTA – Modalku, a fintech platform, is partnering with Lotte Grosir to provide term financing for raw material purchase for Micro, Small, and Medium Enterprises (MSMEs).
Arthur Adisusanto, Country Head of Modalku, mentioned that retail sector has become one of main focuses of Modalku this year.
“We see great potential in it because retail products remain as priority in household shopping in various economic and demography classes,” Adisusanto mentioned in the press release quoted Tuesday (20/8).
According to Adisusanto, the access to Modalku’s financing for MSMEs will be more extensive along with the integration of financing program with Lotte Grosir.
MSMEs under legal business entity status, he said, may be listed as Lotte Grosir’s partner. It will earn them access to an unsecured term financing facility with a limit of IDR 2 billion and tenor of 60 days.
For MSMEs not yet legally listed as an entity, they have access to financing facility with a maximum of IDR 300 million and tenor of 60 days.
Kim Tae Hoon, President Director of Lotte Shopping Indonesia, mentioned that the synergy with Modalku is meant to support MSME professionals and players in expanding its business operation.
“It provides financial support required by our customers to expand,” Kim said.
As is known, Modalku Group has channelled financing worth over IDR 62 trillion in 5.1 million transactions of MSMEs in Southeast Asia. (LK/ZH)