PT Jamkrindo, together with its subsidiary PT Penjaminan Jamkrindo Syariah (Jamsyar), has provided guarantees for 755,563 working capital loan (KMK) debtors in support of the government-initiated National Economic Recovery (PEN) program.
Jamkrindo's President Director, Putrama Wahju Setyawan, stated that the company has realized PEN guarantees amounting to IDR 12.02 trillion, with Jamkrindo contributing IDR 8.44 trillion and Jamsyar IDR 3.57 trillion.
The purpose of these loans is to protect, sustain, and enhance the economic capabilities of business players, particularly micro, small, and medium enterprises (MSMEs). The KMK guarantee program under PEN is crucial in boosting banks' confidence to disburse working capital loans.
"Jamkrindo has collaborated with various stakeholders, particularly banks, to ensure the program's success and its positive impact on the national economy," Putrama stated in a press release on Friday, March 12, 2021.
The KMK MSME guarantee scheme is regulated under Minister of Finance Regulation 71/2020. The government assigned Jamkrindo, a member of the Indonesia Financial Group (IFG) holding, to implement the PEN guarantee program while considering state financial capacity and fiscal sustainability.
Before being appointed to carry out PEN guarantees, Jamkrindo had already been tasked by the government to guarantee People’s Business Credit (KUR), a role it continues to fulfill today.
Additionally, Jamkrindo remains committed to distributing partnership loans to its fostered partners to stimulate economic activity, particularly for micro-entrepreneurs lacking access to banking services. “We not only provide partnership loans but also offer guidance to MSME foster partners,” Putrama added.
As a credit guarantee company, PT Jamkrindo offers various guarantee products, including both program-based and non-program-based guarantees.
For program-based guarantees, Jamkrindo provides: KUR (People’s Business Credit) guarantees, KMK guarantees under PEN, Warehouse receipt system guarantees, Housing Liquidity Facility (FLPP) guarantees.
Meanwhile, non-program guarantees include: General credit guarantees, Microcredit guarantees, Construction and procurement credit guarantees, Multipurpose credit guarantees, Goods distribution guarantees, Surety bonds and customs bonds, Cargo agency guarantees, Supply chain financing (invoice financing) guarantees, Vehicle financing guarantees (KKB/OTO), Mortgage loan (KPR) guarantees, Capital management guarantees (CGM), Fintech institution guarantees
With these extensive financial guarantee products, Jamkrindo continues to play a pivotal role in supporting business financing and fostering national economic growth.