Bandar Lampung | The Chamber of Commerce and Industry (Kadin) of Lampung Province has established a collaboration with Jaminan Kredit Indonesia (Jamkrindo) Lampung Branch to develop the business sector in Lampung.
The Chairman of Kadin Lampung, Ari Meizary Alfian, stated that in the meeting, Jamkrindo offered a partnership aimed at advancing the business sector in Lampung Province. “This meeting was also held as a follow-up to the signing of the MOU previously conducted between Jamkrindo, Bank BRI, and the Central Kadin,” said Ari when met at his office on Tuesday (22/3).
“Jamkrindo, as a credit guarantee institution, is needed because many entrepreneurs in Lampung, especially small and medium-sized business owners, do not have collateral to apply for bank loans,” he stated.
The facilities offered by Jamkrindo, he added, will be further promoted by Kadin Lampung. “To be honest, we have only just learned about Jamkrindo’s role, which turns out to be quite beneficial for business development in Lampung Province, so we will work on socializing this further,” he said.
Meanwhile, the Head of Jamkrindo Lampung Branch, M. Rinanto Deddy, stated that Jamkrindo, as a state-owned enterprise engaged in credit guarantees, aims to accelerate economic development. “We also want to be involved in promoting economic growth, particularly in supporting MSMEs amid the competition of the ASEAN Economic Community (MEA),” he said when met by Lampost.co.
During the meeting, he mentioned that Jamkrindo proposed the creation of an MOU involving Jamkrindo, banks, and Kadin. “Entrepreneurs under the Kadin umbrella must obtain a recommendation from Kadin. Once the bank deems the entrepreneur eligible for credit, Jamkrindo will act as the credit guarantor,” he explained.
Various credit guarantee products are offered, including general credit guarantees, microcredit guarantees, construction credit guarantees, multipurpose credit guarantees, people’s business credit guarantees, goods distribution credit guarantees, sharia financing guarantees, bank guarantee guarantees, surety bonds, custom bonds, invoice financing guarantees, FLPP guarantees, and KKPE guarantees.
Deddy provided an example of the convenience offered, particularly for bank guarantee products. Typically, contractors who borrow Rp100 million from a bank are required to provide collateral of the same amount. However, with a guarantee contract from Jamkrindo, contractors who should provide Rp100 million in collateral only need to provide 10-20% of the required amount, while Jamkrindo guarantees the rest. “So, if the borrower defaults on their loan, we will act as the first line of protection, although we are not obligated to fully repay the loan,” he explained.
For MSME guarantees, he added, Jamkrindo guarantees 70% of the total collateral required by the bank. For example, if the bank requires collateral of Rp100 million but the entrepreneur only has Rp50 million, by entering a contract with Jamkrindo, the entrepreneur will receive a 70% guarantee, increasing the total collateral coverage to Rp120 million.
“The amount of collateral that entrepreneurs must provide to the bank (excluding the 70% guarantee from Jamkrindo) depends on the requirements of each bank. That decision is entirely at the bank’s discretion,” he clarified.
Entrepreneurs whose MSME loans are guaranteed, he continued, only need to pay a guarantee service fee to Jamkrindo, which depends on the loan term and credit limit. “Jamkrindo sets this fee at 1.5% per year,” he stated. (Source: Lampung Post.co)