JAKARTA - PT Bank Danamon Indonesia Tbk (BDMN) and PT Investree Radhika Jaya (Investree), a leading business-to-business (B2B) marketplace lending service provider in Indonesia, signed a cooperation agreement relating to channeling business loans or loan channeling, in which Bank Danamon channels loans through the online platform Investree.
Through this loan channeling scheme, customers will receive the convenience and quick access of online loan services with higher limits like bank loans. This cooperation agreement was signed on 12 March 2020 in Jakarta.
"This partnership is a form of our commitment to expand access to credit to SMEs, ensuring business actors get support from banks to increase their business growth and contribute to the economy. This partnership also shows that banking and financial technology companies can complement each other to support financial inclusion and support the growth of the Indonesian SME sector as the backbone of the country's economy," said Michellina Triwardhany, Deputy Director of Bank Danamon.
The loan channeling scheme starts with customers applying for loans through a platform owned by Investree with a total loan of between Rp 200 million - Rp 2 billion. Investree then analyzes and evaluates prospective loan recipients. Then, Investree will conduct initial screening based on the criteria provided by Investree as well as the Bank. Furthermore, Investree will conduct an underwriting process including the process of identifying, selecting, and analyzing the prospective Borrower and also providing scoring results and credit limit recommendations along with interest costs provided based on the loan grading results of prospective customers as material for consideration of providing facilities. Then the Bank will give approval based on recommendations given by Investree and then process the loan disbursement to customers through Investree. (LM)