JAKARTA. PT Buana Finance Tbk (BBLD), a financing service provider, has secured an extra credit limit from PT Bank Danamon Indonesia Tbk (BDMN) worth a total of IDR 515 billion.

This credit extension consists of additional term-instalment facility of IDR 500 billion, maxed out at 48 months. It also acquires an extension to the limit of its current account’s credit facility of IDR 15 billion with a tenor of 12 months.

Ahmad Khaetami, Corporate Secretary of BBLD, mentioned that this extra credit limit will be utilised to enhance its working capital, including the consumer finance and financial lease.

“The term loan facility is guaranteed by our accounts receivables,” Khaetami added in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, BBLD had previously obtained a credit facility worth IDR 125 billion from PT Bank DKI in April 2023. On top of this, the company had been granted another facility worth IDR 150 billion from PT Bank Victoria International Tbk (BVIC) in March 2023, and another IDR 150 billion from PT Bank KEB Hana Indonesia in January 2023. (KR/ZH)