Currently, there are 2 loan products on our platform:

SME Loans are loan products aimed for small and medium-sized enterprises without collateral requirements. SME Loans require a personal guarantee for applications for more than Rp 300 million.

SME Loans can be identified from their loan IDs/codes. Modalku loan IDs/codes that start with IBBT, IPBT, IPEL, and IPCMC are SME Loans. Some of the criteria of SME Loans are:

  • Loan tenor ranges between 1 to 24 months. The majority of our SME Loans have a tenor of up to 12 months.

  • Interests range between 12% - 24% (simple interest rate, per annum), depending on risk assessment of each loan.

  • Monthly repayment scheme is in the form of installments (based on loan principal and flat interest rates) up to the end of loan period.

  • Loan installments would be paid out on either the 8th or the 23rd of each month.

Invoice Financing Loan is a short-term loan product that bridges business cash flow for borrowers by financing unpaid invoices owned by the borrower. Funds will be repaid by the borrower when his/her client resolves the invoice.

Invoice Financing Loans are identified by the loan ID/code IBAP (for Invoice Account Payable) and IBIF (for Invoice Account Receivable). Below are the criteria of Invoice Financing:

  • The tenor of Invoice Financing corresponds to the borrower’s invoice cycle. Product tenor of Invoice Financing with the loan code IBAP is up to 180 days, while loans with the code IBIF have a range of 15-90 days.

  • Interests range between 10% - 20% (simple interest rate, per annum), depending on risk assessment of each loan.

  • Repayment scheme for loan principal and interest is paid out by Invoice Financing due date, which will be adjusted to the invoice due date.

  • There is a possibility that repayment for this product would happen faster than the established due date, as interest fees are calculated per day based on financing tenor.

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