Small and medium businesses in Indonesia face a gap between the finance they need and the amount they can borrow from the financial industry, and fintech could help, writes Sonny Joseph. Second are SMEs that have become part of the production chain or industrial supply system. Indonesian Banking Statistics data shows the SME sector receiving IDR951.7tn ($70bn), 19% of the total banking credit of IDR5,168.2tn, in October 2018, leaving a IDR1,320tn funding gap. The Straits Times They also offer faster turnaround along with short-term and smaller loans compared to traditional banks.
Small and medium businesses in Indonesia face a gap between the finance they need and the amount they can borrow from the financial industry, and fintech could help, writes Sonny Joseph. Indonesian Banking Statistics data shows the SME sector receiving IDR951.7tn ($70bn), 19% of the total banking credit of IDR5,168.2tn, in October 2018, leaving a IDR1,320tn funding gap. The Straits Times They also offer faster turnaround along with short-term and smaller loans compared to traditional banks.