Growing Financing Needs, Akulaku Look for Loans from Abroad

Company finance online Akulaku (Akulaku Finance Indonesia) revealed that it was in the process of seeking loans from abroad (offshore loans) to meet financing needs next year, which is targeted to distribute IDR 6 trillion from the current position of IDR 4 trillion. One of the investors to be withdrawn is from Hong Kong.

President Director Akulaku Finance Efrinal Sinaga explained, this was the first time the company had done this offshore loans, so far relying on loans from several local banks, including its affiliates Yudha Bakti Bank, and my assets to be redistributed in the form of loans to customers.

"Akulaku Finance just doing this this time offshore financingWe hope that after this there will be many other financing schemes," he said Tuesday (10/12).

Received funding bag Akulaku this is different from the usual schemes that digital startups accept. The concept is more or less the same as bank loans in general, there is a tenor and interest that must be paid but with pricing which is more competitive than taking funds from the bank.

Steady outside investors to provide loans to Akulaku, is actually influenced by its largest shareholder, StreetCorner Lending Corp. with 80% share ownership making it easier for investors to get to know more quickly Akulaku. Moreover, StreetCorner also has Ant Financial as one of the investors.

Actually, not only from that factor alone, investors also see from the fundamentals of the company itself whether its finances are healthy or not.

If all of these plans succeed, other opportunities will open up for you Akulaku to obtain other loans in various schemes. With banks, not only channeling, there is joint financing, other forms of issuing debt securities from MTN, bonds, syndications on/offshore, until the IPO.

With a targeted financing target next year, the company will direct productive-based credit for business capital merchant online and vehicle loans. The portion is expected to reach 20% of the total financing, which is still dominated by consumer loans.

Loans for online merchants, continued Efrinal, will start from those who join the marketplace Akulaku about 120 thousand merchant. The company will also target merchants who sell on the platform E-commerce to finance their business. The nominal loan is around Rp. 50 million-Rp. 100 million.

"Already tested the system, most likely next month we will piloting in Jabodetabek first before we expand outside Java."

As for motor vehicle loans, it has been started since August 2019. The loan size is IDR 50 million-IDR 300 million, and the tenor varies from 1-5 years. Document requirements include only KTP, KK, BPKB, and additional documents if needed.

Efrinal explained that the distribution of vehicle loans does not only rely on offline dealers, the company will attract online players who provide buying and selling vehicles on its platform.

"Because we want shifting ke productive, there is even a possibility that next year we will target loans to farmers and fishermen."

Since three years of existence, Akulaku still focusing on consumer credit with a contribution of 90% of the total disbursement of IDR 4 trillion as of October 2019. Growing 116% year on year. Its users are claimed to be more than 3 million people. The default rate is kept below 1%.

Planning to be super banker and get ready to work on sharia

Correspondingly, the company plans to become super banker create company p2p loans. Efrinal said that this scheme was permitted in the POJK because of its position Akulaku is a company finance to channel back into the funds they raised by the online platform. However, the company is looking for players who focus on productive loans.

"This is still an assessment, at the end of the year we want to see the map here like what. Then is it suitable? pricingBut, if they are also productive, it doesn't hurt to consider it."

Doing business in Indonesia, with the largest sharia market potential, also makes Akulaku interested in working on that segment. However, the company will not immediately release its business unit next year, but will prepare in advance while reading market conditions.

Many factors make Akulaku interested. Among them, sharia has value strong power to encourage transactions from both individual consumers and entrepreneurs, the hectic conversion of regional banks from conventional. Plus from encouragement top down of the current cabinet.

"We are also waiting for the deadline from the POJK regarding spin-off di finance what shape. If all of this is done in a non-parallel manner and the community has started to be loyal to sharia, we will be late," he concluded.