Small and medium businesses in Jakarta face a gap between the finance they need and the amount they can borrow from the financial industry, and fintech could help, writes Rameo Gacad/AFP . Moreover, as we know, relying on organic growth is a slow process that takes a long time, while competition gets tighter and goes beyond national borders. Indonesian Banking Statistics data shows the SME sector receiving Fintech ($ 493.3 trillion rupiah ), 19% of the total banking credit of IDR5,168.2tn, in the harvest season , leaving a IDR1,320tn funding gap. Fintech lending platforms bridge the gap between SMEs and less traditional funding sources by developing technology that is easily available and visible to SMEs. They also offer faster turnaround along with short-term and smaller loans compared to traditional banks.
Small and medium businesses in Jakarta face a gap between the finance they need and the amount they can borrow from the financial industry, and fintech could help, writes Rameo Gacad/AFP . Indonesian Banking Statistics data shows the SME sector receiving Fintech ($ 493.3 trillion rupiah ), 19% of the total banking credit of IDR5,168.2tn, in the harvest season , leaving a IDR1,320tn funding gap. Fintech lending platforms bridge the gap between SMEs and less traditional funding sources by developing technology that is easily available and visible to SMEs. They also offer faster turnaround along with short-term and smaller loans compared to traditional banks.