12 March 2020 – PT Bank Danamon Indonesia Tbk (“Bank Danamon”) and PT Investree Radhika Jaya (“Investree”), Indonesia’s leading business-to-business (B2B) marketplace lending platform, signed a partnership agreement on Loan Channeling whereby Bank Danamon will provide loan funding through Investree platform. Through this loan channeling scheme, a prospective borrower would receive the convenience and easier access to business financing with considerably higher credit limit, just like as if they were applying through bank. The partnership agreement was signed today in Jakarta.
According to 2018 data from the Ministry of Cooperatives and SMEs, 74% of Indonesia’s 63 million MSMEs have no access to financing. The presence of marketplace lending, such as Investree, has improved this access through a convenient online platform, as shown by its rapid growth.
“This partnership is our commitment to widen access for financing to SMEs, ensuring that they receive support from banks to grow their business and contribute to the economy. This partnership also shows how banks and financial technology companies can complement each other to support financial inclusion and support the growth of the country’s SMEs sector as the backbone of Indonesia’s economy,” said Michellina Triwardhany, Vice President Director, Bank Danamon.
“For the umpteenth time Investree cooperates with banks in terms of channeling financing to SMEs. This proves that the synergy between fintech and banks can have a positive and real impact not only for the growth of SMEs but also the digital ecosystem in Indonesia. We will also maximize the support from Bank Danamon to add a series of innovations that are rich in benefits to our target audience, especially developing SMEs,” said Adrian Gunadi, C-Founder & CEO Investree.
The loan channeling scheme with Investree consist of the borrower applying a loan ranging from IDR 200 million to IDR 2 billion through Investree online lending platform. Investree will do the analysis and assessment. For each prospective borrower who submits the loan application, Investree will do the screening process based on Investree criteria and also the list of criteria given by the Bank. Furthermore, Investree will perform the underwriting process, include the identification, selection and borrower analysis and also provide the scoring result and credit limit recommendation along with the interest fee charged based on loan grading result for the Bank’s approval consideration. After the approval process, Bank will process the loan disbursement to the borrower through Investree.