"Fintech Aggregator" Experienced Sharia Helps SMEs Find Business Loans

The sharia-based lifestyle is increasingly loved by the Indonesian people, but this is inversely proportional to the interest in living a sharia-based financial life. On this basis, Dima Djani and his friends founded a startup fintech aggregator Experience Sharia.

"We see that many SMEs have to take a long time every time they want to get a business loan from a bank. Not to mention there is the potential for rejection. We want to help speed up the process [to be faster]," explained Alami Sharia CEO and Founder Dima Djani, Friday (18/5).

Alami is an aggregator to connect SME entrepreneurs with financial institutions engaged in the sharia business, such as banks and p2p lending services.

He explained, for the process of disbursing funds, SME entrepreneurs simply fill in the required data via the Natural website. The nominal amount that can be submitted by SMEs through the Natural platform starts from Rp. 200 million to Rp. 30 billion.

It will provide credit rating using banking standards to be recommended to institutional partners. They can choose SMEs according to their individual preferences.

Applied credit rating Experience very similar to what banks usually do, from a qualitative and quantitative perspective. Such as how long the business has been established, the scale of the business, the character of the business, financial ratios, and so on.

credit rating Natural version will be reassessed by each financial institution, but it is certain that this process will take less time than when they calculated from the start.

"This way the disbursement process will be faster, about 2-3 weeks. SMEs can reach various institutions with various offers in just one job, unlike before."

For monetization, Alami gets a commission of 1% for each successful distribution received. Alami also prepares a team to educate SME entrepreneurs, considering that neat bookkeeping has not been fully understood and implemented properly. Dima said the company is in the process of collaborating with accounting software startups to help SMEs in business bookkeeping.

Business achievements and subsequent plans

Since officially operating at the end of last year, Alami has realized a disbursement of Rp. 15,5 billion for five SME entrepreneurs. Most of these SMEs are engaged in construction and chemicals located in Jabodetabek.

Of this total distribution, around 70% of which is carried out by banks and the rest by fintech p2p lending. Alami has just collaborated with two Islamic banks, namely BNI Syariah and Bank Mega Syariah, and the sharia fintech Kapital Boost.

"In terms of institutional partners, our presence is quite necessary because they don't have to bother looking for prospective debtors."

For the time being, Natural intermediaries are still only a liaison between Islamic financial institutions and SME entrepreneurs. Do not want to stop there, this year Alami will add monitoring services to prevent bad loans from occurring after the disbursement has been successfully carried out.

Dima said that his party will also increase institutional partners so that more SME players can be assisted in obtaining business loans. It is targeted that by the end of this year Alami could have six bank partners and two fintech partners.

As for the realization of the distribution, it is expected to grow at least four times compared to the current achievement, or become Rp. 100 billion by the end of the year. The distribution will be directed to help 20-30 SME partners.

"We will slowly enter the region, before reaching the rest of Indonesia. We also want to expand overseas."

Currently Alami has received stage investment pre seed of a number of angel investors and a grant from the INSEAD Venture Competition, after being selected as the second winner. Alami plans to be officially present in the middle of this year.