Hand in Hand Launches Online Crowdlending Platform

Financial aid facilities that support small business space are not small. However, the regulations and policies often make it difficult for business actors to obtain capital. Utilizing technology, GandengTangan offers alternative solutions to help business actors and social movements to raise interest-free loan funds (crowdlending) via their site HandGandhand.org.

"We are here toexhibits social entrepreneurs who work secretly when they need access and help, but they don't know how. The hope is that the community will not only become spectators of inspiring business stories, but can also contribute," said the Co-Founder of GandengTangan, Jezzie Setiawan at the launch of GandengTangan yesterday (15/3).

Different from through crowdfunding, draft crowdlending which is carried out by GandengTangan gives more opportunities for everyone who wants to take part and lend their funds, a minimum of IDR 50 thousand, with 0% interest.

GandengTangan is sincere in providing loans because the borrower is not charged any interest, while the financier does not get anything in return. The business model that is run is GandengTangan taking 5% of each total loan for operational needs.

Before finally releasing its platform yesterday, GandengTangan had conducted market validation. According to Jezzie in her interview with DailySocial, out of 150 respondents (48% private employees, 21% students, 9% entrepreneurs) who were asked about lending funds to social entrepreneurs gave very valid results. As many as 85% expressed interest and were very interested in providing loans, while 89% were willing to use the GandengTangan platform as a medium.

Furthermore, 40% of respondents want information on the continuation of their business and the impact it provides, while 30% only needs to return the principal. Regarding the reasons for supporting such a scheme, 78% of respondents answered that they wanted to contribute to developing the local economy and social welfare.

Of course there are things that must be considered by prospective borrowers. GandengTangan has a series of assessments, such as the minimum operating period of a business is six months and social prospects that have high impact which is rated good.

For starters, GandengTangan revealed five projects that are considered eligible to go forward for loans. The five projects are HamuEco, KomodoWater, TinaGas, Agradaya, and the Prosperous Village Community.

Platform utilization online This itself is a form of the spirit of technology literate youth to channel the desire to help others in the community. Even though his party is currently focusing on social enterprises, it is not impossible that in the future it will be targeted tech startups which is relevant.