Providing Special Loans for Sellers, Crowdo Gets MatahariMall for the "Super Loan" Program

Crowdo, a Singapore-based p2p lending platform, announces a partnership with e-commerce players MatahariMall for the "Super Loan" program. It is hoped that this partnership can expand access to large-scale working capital financing for merchants who have joined the Lippo Group network.

It is claimed that MatahariMall currently has 8 thousand SME merchants with very limited access to make loans to banks. Through the program "Super Loans", MatahariMall merchants can apply for a loan for working capital with an amount of between IDR 50 million to IDR 200 million, with an interest of 1%-3% per month and a tenor ranging from 1 to 12 months.

To submit an application, merchants are required to have been an active seller at MatahariMall for a minimum of six months and have been in the form of a business entity. Documents needed, ranging from personal data and photos, as well as business legality data.

"This partnership is in line with our mission to help the best SMEs in Indonesia so that they can access financing from local but also global investors. [..] At the same time, strengthen Crowdo's presence by providing business loans in remote corners of the country starting today. [..], " said General Manager of Crowdo Indonesia Cally Alexandra in an official statement received DailySocial.

Head of Partnership & Communication Alvin Aulia Akbar added, "[..] We believe that by maximizing the use of technology, SMEs can accelerate the increase in their positive contribution, including the use of fintech for easy access to credit. [..] Through this collaboration, we hope to be able to contribute on the growth of SMEs [..]."

Currently Crowdo has financed more than 2.500 business projects and is expected to grow even faster in the future. Cally said that his party targets Crowdo to become the best and largest business platform in Indonesia to assist local SMEs in increasing financing from the global investor community. It will also conduct other partnerships for the realization of these targets.