Indonesia’s lender BRI has tied up with ride-hailing giant Gojek to offer low-interest loan facilities for the latter’s partners. Meanwhile, SaaS startup Gadjian has launched a rescue fund for companies in collaboration with P2P lending firm KoinWorks.
Gojek ties up with BRI to offer loan facility
Indonesia’s largest lender in terms of assets, BRI, has partnered with ride-hailing app Gojek to launch a low-interest loan facility for the latter’s driver-partners and merchants.
According to an announcement, loans that will be disbursed to GoRide, GoCar partners and GoFood merchants, will be between Rp 5 million ($336.93) and Rp 20 million ($1,347).
The loan tenure is up to 24 months, with three months waiver.
“The pandemic COVID-19 has been affecting our partners. The low-interest loan facility will help ease their financial burden. For GoFood merchants, the loan facility will hopefully help their business turnover. We really appreciate BRI support as it will help our partners, especially for their cash flow,” Gojek Co-CEO Andre Soelistyo said in a statement.
BRI will be the one who conducts the pre-screening process for the loan facility.
Gadjian ties up with KoinWorks
Human resources startup Gadjian has launched a rescue fund initiative for companies in collaboration with P2P lending firm KoinWorks, the company announced in a statement.
Approaching Eid, companies are required to pay bonuses to their employees. Amidst the COVID-19 pandemic, they may not be able to pay salaries of employees, let alone their bonuses.
Through the initiative, companies can apply for low-interest loans and can disburse bonuses within three days to employees through the Gadjian platform. Businesses across sectors that have a minimum of five employees are eligible for the scheme.
Gadjian is responsible to do the initial screening, while KoinWorks will provide the loan, with an interest of around 2 per cent per month for a 3-6 month repayment period.