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Terms and conditions of Modalku loans
Terms and conditions of Modalku loans
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What are Modalku loans?

Modalku loans are fast working capital loans for micro, small, and medium-sized enterprises (MSMEs). MSMEs can apply for loans up to Rp 2 billion, with a tenor up to 24 months. Currently, we serve Jakarta, Depok, Tangerang, Bekasi, Bandung, and Surabaya.

Main requirements to apply for Modalku loans:

  1. Business has been operating for at least 1 year.

  2. Located in Jadetabek (Jakarta, Depok, Tangerang & Bekasi), Bandung, or Surabaya

  3. Applicant’s age is 21 – 60 years old

  4. Type of business can be PT, CV, or Individual

  5. Business revenue must be recorded in a bank account.

  6. Registration can be done through our website for loans up to Rp 2 billion.

What information or documents are required for loan application?

  1. Proof of borrower personal identity

  2. Proof of company legality (if filed as a business entity)

  3. KTP of company management (if applying as a business entity)

  4. Personal NPWP/Company NPWP

  5. Audited financial reports (most recent 1-2 years)

  6. Bank statements and reports (most recent 3 months)

  7. Guarantor’s identification

What are the areas currently serviced by Modalku?

Right now, Modalku serves the Jadetabek (Jakarta-Depok-Tangerang-Bekasi) area, Bandung, and Surabaya. In the future, we plan to expand to new areas. For the most recent developments, please check our website and our social media accounts (Facebook, Instagram, Twitter, and LinkedIn).

What is the process of loan application in Modalku?

Once we receive all required documents and information, we will begin the assessment process then decide to approve the loan application or not.

If a loan has been approved, the crowdfunding process would take up to 5 business days, starting from when the borrower has confirmed that he would accept the loan. If total loan amount has been successfully crowdfunded in under 5 business days, we would close the crowdfunding process and continue by processing confirmation of fund disbursement. If after 5 business days the crowdfunding process has not fulfilled the desired loan amount, Modalku would discuss the issue further with the related borrower.

Are there application fees for borrowers who want to apply for a Modalku loan?

No, Modalku does not charge for borrower application fees.

If my loan has been approved, how much administration fees are charged?

We charge a 3-5% administration fee of the total agreed loan amount.

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