Find complete requirements for KUR loans at various banks in Indonesia, including BNI, BRI, and Mandiri, which can help you start or grow your business.
The People’s Business Credit (KUR) Program is a financing solution offered by the government to help people who want to develop micro, small, and medium enterprises (MSMEs) in Indonesia.
Through various banks that work with the government, KUR offers loans with low interest rates and easier terms than regular credit. Even so, each bank has its own terms and conditions that need to be understood well by prospective debtors.
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The following are the KUR loan requirements that you need to know, according to each bank that offers this program, namely BNI, BRI, and Mandiri.
BNI People’s Business Credit Requirements
Bank Negara Indonesia (BNI) offers KUR facilities with a fairly large ceiling, namely up to IDR 500 million.
This program is divided into two types, namely KUR Working Capital and KUR Investment, each with a different tenor or period.
For KUR Working Capital, the maximum tenor is three years, while for KUR Investment, the maximum tenor is five years. BNI offers an interest rate of 6% per year (excluding subsidies).
To apply for KUR at BNI, there are several conditions that must be met by the debtor. Debtors must be Indonesian citizens (WNI) who have a business that has been running for at least six months.
In addition, prospective debtors must not have loans at other banks, either consumer credit or other government program credit. Age requirements also apply, namely debtors must be at least 21 years old or married.
The following are documents that must be included when applying for BNI KUR:
- Membership Card (KTA) and Family Card (KK)
- Photocopy of marriage certificate (for those who are married)
- Legal business documents such as SIUP, SITU, TDP, and others
- NPWP (for those applying for KUR more than IDR 50 million)
- Photocopy of proof of land ownership and PBB (for loans above IDR 50 million)
By fulfilling these requirements, you can apply for a KUR loan at BNI to develop your business.
Requirements for People’s Business Credit from Bank Rakyat Indonesia (BRI)
Bank Rakyat Indonesia (BRI) also has a KUR program with various types, such as KUR Mikro, KUR Kecil, and KUR TKI. For KUR Mikro, the maximum loan ceiling is IDR 50 million, while KUR Kecil has a ceiling of up to IDR 500 million.
Meanwhile, KUR TKI for prospective Indonesian workers (TKI) has a ceiling of up to IDR 25 million. BRI also sets an interest rate of 6% per year excluding subsidies, and there are no administration fees for KUR applications.
To apply for KUR BRI, there are several conditions that must be met:
- For Micro KUR, debtors must have a productive business that has been running for at least six months and do not have loans from other banks, except for consumer credit.
- Small KUR can be applied for by business owners who have been running for at least six months and have a business license, such as a Micro and Small Business License (SIUMK).
- TKI KUR can only be applied for by prospective TKI who will work abroad, with additional requirements such as passport, visa, and work agreement with the service user.
In addition, documents that need to be prepared include:
- KTP, KK, and business license for those applying for Micro and Small KUR
- KTP, KK, passport, and work agreement letter for prospective TKI
By meeting the requirements and completing the documents, you can apply for a KUR loan at BRI to fund your business or prepare for work abroad.
Bank Mandiri People’s Business Credit Requirements
Bank Mandiri also offers various types of KUR, such as Micro KUR, Retail KUR, and TKI Placement KUR, each with a different ceiling.
KUR Mikro offers loans of up to IDR 25 million, KUR Ritel offers a ceiling of up to IDR 200 million, and KUR Penempatan TKI provides a ceiling of up to IDR 25 million.
In addition, Mandiri also has a KUR program for business groups in the form of clusters with a ceiling of up to IDR 500 million. The interest rate for KUR Mandiri is 6% per year excluding subsidies.
The following are some of the requirements for applying for KUR at Bank Mandiri:
- Micro KUR and Retail KUR: Debtors must be at least 21 years old or married. Debtors must not have other ongoing credits, such as mortgages, vehicle loans, or credit cards. However, if the debtor has previous credit that has been paid off, they can attach a certificate of settlement. Debtors must also have run a viable and productive business for at least six months.
- KUR TKI Placement: The age requirement for this type is 21 years old, with a minimum work agreement of two years. For those aged 18 years old, a letter of permission from a parent or guardian is required.
Documents that must be included in the Mandiri KUR application are:
- KTP and KK
- Business licenses and other documents stating the legality of the business (SIUP, SITU, TDP)
- For Indonesian migrant workers, passports, visas and work agreements with service users or PPTKIS
By fulfilling these requirements, you can apply for a KUR loan at Bank Mandiri, either for working capital, investment, or TKI placement.
People’s Business Credit (KUR) Loans are one of the financing solutions that are very beneficial for micro, small, and medium business actors in Indonesia.
Each bank that offers the KUR program, such as BNI, BRI, and Mandiri, has different terms and conditions.
However, in general the main requirements include Indonesian citizenship, a business that has been running for at least six months, and complete business legality documents.
Each type of KUR also has different ceilings and interest rates, as well as document requirements that must be prepared according to the type of credit applied for.
Therefore, make sure you understand the requirements of each bank before applying for a KUR loan so that the process can run smoothly.
With KUR, you can get financing to develop your business or prepare for work abroad with relatively light interest and easier terms compared to regular credit.
