TokoModal P2P Platform Distributes Loans to Alfamart Fostered Outlets

P2P Industry (peer-to-peer) lending become one of the fastest growing sectors for the financial technology category. Several players emerged with their own niche and uniqueness. TokoModal is a p2p lending platform that has a specific target of distributing loans to shops and SMEs that have strategic partnerships with Alfamart.

TokoModal has been operating effectively since the 4th quarter of 2018. Since the beginning they have provided solutions to help SMEs that have been assisted by Alfamart (Outlet Fostered Alfamart / OBA) who need capital to shop for merchandise.

Sebagai P2P lending services, TokoModal is optimistic that it can continue to survive and gain many users because it has advantages in risk management. All borrowers at TokoModal are registered as OBA and shop at Alfamikro. TokoModal also does not provide cash to borrowers but provides loans in the form of goods.

"Tokomodal offers loans that are safe, efficient, easy, and fast. Alfamart fostered outlets can order goods in advance and pay later after they are sold. Paying bills is also easy, if the borrower can repay the loan within 7 days, it will be free of interest or anything during the current promotion period, so it is very suitable for helping micro businesses to grow and develop," explained TokoModal Co-Founder Chris Antonius.

Since its first operation, TokoModal is considered successful in meeting OBA's capital needs. Currently, TokoModal has succeeded in disbursing loans to more than 8.000 OBAs spread across 22 provinces and 50 cities in Indonesia.

The average transaction reached Rp1.500.000 with total loans disbursed during Q4 2018 reaching more than Rp130 ​​billion. TokoModal itself opens a choice of working capital loans ranging from Rp. 300.000 to Rp. 4.500.000. Currently, there are more than 600 registered investors in the TokoModal system.

"With the trend continuing to rise, we are targeting that this year we can at least disburse loans of up to Rp1 trillion," explained Chris.

Now in 2019, TokoModal plans to continue to increase the number of OBA that can be served as borrowers, because in total there are 44.000 OBA registered as Alfamikro members.

Included in TokoModal's plan is to add various features to its application so that business actors can provide additional services for consumers, such as purchasing credit, paying for electricity, to purchasing transportation mode tickets.