JAKARTA. PT Personel Alih Daya Tbk (PADA), a company providing outsourcing services, has signed a credit agreement with PT Bank Central Asia Tbk (BBCA) or BCA.

Based on this agreement, PADA obtained a credit facility totaling IDR 70 billion from BCA. The details consist of a revolving time loan facility with a credit limit of IDR 60 billion and local credit with a limit of IDR 10 billion.

"The period is from 25 October 2023 to 25 October 2024 (12 months)," said Suwignyo, President Director of PADA, in an information disclosure.

In relation to the credit agreement, PADA is subject to interest of 8.75% per year and provisional interest of 0.25% per year for revolving time loans. Meanwhile, local credit facilities are subject to interest of 9% per year and provisional interest of 0.25% per year.

Later, said Suwignyo, PADA will use the loan facility for additional working capital. These funds are then forwarded to develop the company's workforce supply and management services business. (KR/LM)