Through Instant Approval, KoinWorks Facilitates Funding for SMEs

SUPER financial app and financial solutions for businesses, KoinWorks features an Instant Approval feature that allows SMEs to get financing approval within three to five working days after the loan is submitted.

By using Artificial Intelligence in the process Know Your Customer (KYC), process Instant Approval in KoinBisnis is given to users with a loan application of up to IDR 50 million.

Instant Approval This is a breakthrough and KoinWorks effort to serve more than 90% of KoinWorks user businesses, which are dominated by relatively young productive ages with an age range of 24 to 36 years.

These users are young digital entrepreneurs savvy in various industries, including food and beverage, fashionn, and home services, so that Instant Approvall will be of great help to them in making business decisions.

As stated by the Financial Services Authority (OJK) that digital skills greatly affect financial ability.

Nova Putra Legian is one of the business people who have benefited from KoinBisnis.

His geprek chicken culinary business “Geprek Gian” has successfully expanded over the last 2 years.

“I used the venture capital from KoinWorks to open 17 new branches in the Jabodetabek area since 2020, until now Geprek Gian has 24 outlets,” said Nova, sharing his experience.

“I welcome this Instant Approval because it makes business funding more efficient.” Nova said, sharing her experience.

“Hopefully later my colleagues and I can make decisions faster in the midst of a dynamic FnB business,” he added.

Benedicto Haryono, Chief Executive Officer of KoinWorks provided further information about this feature.

“The addition of this feature is our improvement in line with KoinWorks’ goal to provide easy and fast access to capital to develop SME businesses,” said Benedicto.

“This Instant Approval is at the same time a solution to the increasing funding application assessment,” he said.

“By continuing to improve applications and a strong user base, KoinWorks is optimistic that it can advance the growth of Indonesian SMEs and support the government’s target of realizing 30 million SMEs go digital by 2024,” said Benedicto.

For internet banking users, KoinWorks completes the facility to link the KoinWorks account with the user’s bank account to speed up the assessment of the proposed funding.

With the advantages offered, KoinWorks will consistently contribute to overcoming the challenges of SMEs, such as access to capital and digital infrastructure.

This can be seen from the continued trust given to KoinWorks in providing financial access for its users.

As a step forward, KoinWorks will focus on developing funding products to provide a more optimal user experience, especially for SMEs. (RO/OL-09).

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