PT Jamkrindo continues to play a vital role in supporting the National Economic Recovery (PEN) Program, initiated by the Indonesian government. As of Thursday, October 8, 2020, Jamkrindo has provided loan guarantees for 236,227 debtors under the Working Capital Credit (KMK) PEN scheme.
According to PT Jamkrindo President Director, Randi Anto, the company has realized a total PEN guarantee of Rp 4.488 trillion, with the following breakdown: Rp 3.473 trillion from PT Jamkrindo, Rp 1.015 trillion from Jamkrindo Syariah.
"The goal of this working capital loan guarantee is to protect, sustain, and strengthen the economic capacity of business owners, particularly MSMEs," said Randi Anto in a press release on Friday, October 9, 2020.
Randi emphasized that the KMK PEN guarantee program is crucial for increasing banking confidence in disbursing working capital loans. To date, Jamkrindo has partnered with 23 banks, including: State-owned banks (BUMN), Private banks, Islamic banks (Bank Syariah).
"With more banks partnering with Jamkrindo, we hope that more MSMEs can benefit from the PEN program. Our extensive network, with 9 regional offices, 56 branch offices, and 16 service units, is fully prepared to support the KMK PEN guarantee program," Randi stated.
The KMK MSME guarantee scheme is regulated under Minister of Finance Regulation No. 71/2020, which outlines Jamkrindo and Askrindo’s roles in implementing the PEN guarantee program, while ensuring fiscal sustainability and efficient state budget utilization.
Eligibility Criteria for Banks Must have a good reputation, Classified as "Healthy" with Composite Ratings of 1 or 2 (as per OJK’s health assessment), Must have an adequate information system to facilitate government guarantee programs.
Eligibility Criteria for MSME Borrowers Maximum loan limit of Rp 10 billion per debtor, including additional credit facilities, Loans must have a guarantee certificate issued by November 30, 2021, Loan tenor: Maximum of 3 years, Must not be blacklisted in the national database, Must have performing loans (current or in collectibility category 1 or 2 as of February 29, 2020), Eligible business types: Individual enterprises, cooperatives, or corporate entities.
Apart from guaranteeing PEN loans, Jamkrindo remains dedicated to disbursing partnership loans to its fostered MSME partners. This initiative aims to stimulate economic activity, especially for micro-enterprises lacking access to banking services.
"We don’t just provide credit; we also offer business mentoring and support to our MSME partners," added Randi Anto.
PT Jamkrindo is part of the Indonesia Financial Group (IFG), a state-owned insurance and guarantee holding company under PT Bahana Pembinaan Usaha Indonesia (Persero). As Indonesia’s largest credit guarantee company, Jamkrindo is committed to continuing its role in financial inclusion, supporting banks, non-bank financial institutions, and MSMEs in their economic recovery and growth efforts.
Through these initiatives, Jamkrindo reinforces its role as a key player in Indonesia’s economic development, ensuring business sustainability and resilience for MSMEs nationwide.