Financing to Microfinance Institutions/Sharia Microfinance Institutions (LKM/LKMS)

 

Financing to Microfinance Institutions/Sharia Microfinance Institutions (LKM/LKMS)

Distribution of financing to or through Microfinance Institutions (LKM) or Sharia Microfinance Institutions (LKMS) to fulfill the needs of end-users (collective) who apply for financing through LKM/LKMS.

Microfinance Institution (LKM) is a financial institution specifically created to provide business development services and community empowerment, either through micro-scale loans or financing to the members and the public, savings management, or business development consulting services, which is not solely to make profits.

Produk BSM

LKM with a Sharia Saving and Credit and Financing Unit (USPPS), hereinafter referred to as USPPS.

Sharia Microfinance Institution (LKMS) is an incorporated institution whose business operation is to provide financial services within the sharia principles.

  1. Market Targets:
    • Secondary Cooperatives
    • Islamic Community-Based Microfinance (Baitul Maal Wa Tamwil) (BMT)
    • Muhammadiyah Financial Institutions (Baitul Tamwil Muhammadiyah) (BTM)
    • Saving and Credit Cooperatives (Baitul Qiradh) (BQ)
    • Sharia Saving and Credit and Financing Cooperatives (KSPPS)
    • Multi-Purpose Cooperatives (KSU) with a Sharia Saving and Credit and Financing Unit (USPPS)
  2. Financing Scheme
    • Channeling Financing Scheme is financing provided to end-user customers through Microfinance Institutions (LKM)/Sharia Microfinance Institutions (LKMS) as initiated by a Cooperation Agreement.
    • Executing Financing Scheme is financing to Sharia Microfinance Institutions (LKMS) or Sharia Saving and Credit and Financing Units to be distributed to end-user customers.

Additional Channeling Documents

  1. Employees
    • Application form or application for financing
    • A copy of ID Cards of the applicant and spouse
    • A copy of Family Certificate
    • A copy of Marriage Certificate/Divorce Certificate
    • Salary slip/income certificate
    • A copy of the last decision letter (SK)
    • A copy of Taxpayer ID No. (for financing limit over Rp50 million)
    • 6 (six) months’ current account/savings account/giro
  2. Self-employed
    • Application form or application for financing
    • A copy of ID Cards of the applicant and spouse
    • Bookkeeping
    • A copy of Family Certificate
    • A copy of Marriage Certificate/Divorce Certificate
    • A copy of Taxpayer ID No. (for financing limit over Rp50 million)
    • A copy of Business Certificate/Trading License/Business Place License
    • 6 (six) months’ current account/savings account/giro

 

What are the requirements?

Personal Data

  • Curricula Vitae & photographs of the management (Chairperson, Secretary, Treasurer), Supervisory and Management Board (Manager).
  • Composition of the management appointed by the Annual Member Meeting and ratified by the local Cooperative Office.
  • A copy of ID Card/identity of the management (Chairperson, Secretary, Treasurer) and the Supervisory Board.
  • Application form/application for financing bearing the signature of the authorized officer under the Articles of Association/By-Laws.

Business Legality

  • Deed of establishment/Articles of Association/By-Laws of the cooperative and their amendment (if any).
  • Validation from the Ministry of Cooperative Affairs.
  • Trading License/Saving and Credit License.
  • Valid Registration Number.
  • Taxpayer ID Number.
  • Annual Tax Return and Tax Receipt for the last year.
  • Certificate of Domicile/Business Place License/Nuisance Permit issued by the competent officers.

Financial Information/Business Support Information

  • A copy of 6 months’ current account/saving account.
  • A list of loans from other Banks (if any).
  • Financial Statements for the past 2 financial years (audited with assets over > 10 billion under banking regulations and Financial Statements for the current year.
  • 2 years’ collectability report and current year’s collectability report bearing the signature of the competent officers (NPF Gross).
  • 2 years’ Annual Member Meeting (RAT).
  • Supplement to the Official Gazette of the Republic of Indonesia (TBNRI)*
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