Bank Jakarta disburses Rp48 billion to 167 Kramat Jati market traders

The Deputy Governor of Jakarta, Rano Karno, announced that Bank Jakarta has disbursed financing totaling approximately Rp48 billion to 167 traders at the Kramat Jati Central Market in East Jakarta. Karno made the statement while attending and witnessing the signing of a mass loan agreement by Bank Jakarta for 100 traders at the market on Tuesday (1/9). The financing utilizes the People's Business Credit (KUR) and non-KUR programs for micro, small, and medium enterprises (MSMEs), with loan ceilings up to Rp500 million. Karno stated that in addition to the 100 individuals signing the mass loan agreement today, Bank Jakarta has already provided financing programs to 167 traders out of over 5,000 business actors at the Kramat Jati Central Market, amounting to approximately Rp48 billion. "Today, we are expanding financing access for traders at this central market in Kramat Jati. This is very important because traders need certainty of working capital to sustain their businesses," Karno said in a written statement. He expressed optimism that this capital support would enhance the capacity of MSME actors at the Kramat Jati Central Market, enabling them to develop their businesses and improve their welfare. He also appreciated the collaboration between Bank Jakarta and Perumda Pasar Jaya, deeming it a concrete support for MSMEs and the people's economy. Karno hopes that the mass loan agreement event will attract more traders in Kramat Jati Market to participate in Bank Jakarta's financing programs for MSMEs. However, Karno reminded that access to formal financing must be accompanied by financial literacy. He emphasized that this is crucial for MSME actors to implement sound financial management, ensuring their businesses can continue to grow. "There will definitely be a dialogue between the bank and the traders to mutually assist in management so that businesses can grow further. Hopefully, we can develop this program in other markets as well," he added. On the same occasion, Bank Jakarta President Director Agus H. Widodo stated that the program is not merely a credit disbursement activity but part of Bank Jakarta's effort to build broader financial access for micro-entrepreneurs to grow and 'move up.' Agus assured traders that Bank Jakarta provides capital support through both KUR and non-KUR programs. For the KUR program, he explained, no collateral is required, with a loan ceiling of up to Rp100 million. For the non-KUR program, traders can use their trading stalls as collateral. Those accessing the non-KUR program can receive loan ceilings of up to Rp500 million with an interest rate of around 10 percent per year. "For Bank Jakarta, success is not measured by how much credit is disbursed. The true success is when financing makes traders' businesses grow, turnover increases, jobs are created, and more Jakarta MSMEs move up," Widodo concluded. Source: CNN Indonesia