Have you ever heard of “14 2015 BPKM”? If you haven’t, don’t worry, you’re not alone. However, if you’re a business owner or an entrepreneur in Indonesia, it’s important that you understand what this term means and how it can impact your business. In this article, we will cover everything you need to know about 14 2015 BPKM, from its definition to its implications for your business.
What is 14 2015 BPKM?
14 2015 BPKM is short for Keputusan Menteri Keuangan Nomor 14/PMK.05/2015 (Minister of Finance Decree No. 14/PMK.05/2015). This decree was issued by the Ministry of Finance in Indonesia on February 2, 2015.
The key objective of this decree is to improve the competitiveness of small and medium-sized enterprises (SMEs) in Indonesia. The Ministry of Finance recognizes that SMEs play a crucial role in the Indonesian economy, and therefore, it is important to provide them with the necessary support to grow and compete effectively.
What are the Implications of 14 2015 BPKM?
One of the main implications of 14 2015 BPKM is that it provides SMEs in Indonesia with access to financing at lower interest rates. This is achieved through a government-sponsored program called the “Kredit Usaha Rakyat” (KUR) or People’s Business Credit program.
Under the KUR program, eligible SMEs can obtain financing at a maximum interest rate of 9% per year. This is significantly lower than the prevailing market rates, which can be as high as 20% or more. The KUR program also provides other benefits, such as longer repayment periods and simplified application procedures.
In addition to the KUR program, 14 2015 BPKM also includes other measures to support SMEs. For example, it requires banks and other financial institutions to allocate a certain percentage of their loan portfolios to SMEs. This helps to ensure that SMEs have access to financing, even if they don’t qualify for the KUR program.
Who is Eligible for the KUR Program?
To be eligible for the KUR program, SMEs in Indonesia must meet certain criteria. These criteria include:
- Being a legal entity, either in the form of a sole proprietorship, partnership, or limited liability company (PT);
- Having a maximum annual turnover of IDR 50 billion (approximately USD 3.5 million);
- Having a maximum total assets of IDR 500 billion (approximately USD 35 million);
- Being engaged in productive economic activities, such as manufacturing, agriculture, fisheries, or services; and
- Having a good credit history and financial record.
If an SME meets these criteria, it can apply for financing under the KUR program through participating banks and financial institutions.
How to Apply for the KUR Program?
The application process for the KUR program is relatively simple and straightforward. SMEs can apply for financing by submitting a loan application and supporting documents to a participating bank or financial institution.
The supporting documents that may be required include:
- Identification documents of the borrower and guarantor;
- Business registration documents;
- Financial statements and tax returns of the business;
- Collateral documents (if any); and
- Other documents as required by the bank or financial institution.
Once the application is received, the bank or financial institution will evaluate the SME’s creditworthiness and financial viability. If the application is approved, the financing will be disbursed to the SME’s account.
Conclusion
14 2015 BPKM is an important policy initiative by the Indonesian government to support the growth and competitiveness of SMEs in the country. The KUR program, in particular, provides SMEs with access to financing at lower interest rates, which can help them to expand their businesses and create more jobs.
If you’re an SME owner in Indonesia, it’s important to understand the implications of 14 2015 BPKM and how you can leverage the KUR program to grow your business. By taking advantage of this program, you can access affordable financing and take your business to the next level.
