Crowdo P2P Lending Platform Partners with BFI Finance, Serves Collateral-Based Loans

Platform peer to peer lending from Singapore Crowdo formalize a partnership with finance company PT BFI Finance to increase access to SME financing.

By adhering to the reference concept, prospective debtors can apply for a loan on the Crowdo platform by pledging the BPKB of their vehicle, be it a motorbike or car, as well as fixed assets such as a house. Loans are open for business as well as personal use. Furthermore, party Crowdo will submit to BFI for further review.

"This is a great opportunity for us to expand Crowdo's reach throughout Indonesia. [..] partnership with BFI, will accelerate the delivery of solutions for customers. [..] We are committed to overcoming barriers to accessing financial services and driving business [. .]," said Crowdo Indonesia General Manager Cally Alexandra in an official statement received DailySocial, Friday (26/5).

BFI's Business Strategy Department Mahendra Kesumah added that the partnership between the two companies is BFI's strategy in order to expand the business activities of finance companies. As stated in POJK No. 29, finance companies can not only provide vehicle financing, but have been extended to investment, working capital, and multipurpose.

"BFI sees Crowdo as a p2p lending company with the same vision as us. We also consider Crowdo's experience, they not only understand the market in Indonesia, but also in Malaysia and Singapore," said Mahendra.

Going forward, Crowdo is committed to continuing to expand partnerships with other companies to facilitate access to loans for SMEs in Indonesia.

Previous, Crowdo also inaugurated a partnership with MatahariMall for the "Super Loan" program. From this program, sellers at MatahariMall have the opportunity to take out loans of between Rp. 50 million to Rp. 200 million with an interest of 1%-3% per month.