Bank BRI partners with Investree to offer loans to entrepreneurs

It has earmarked more than $143m for digital lending via the platform.

Bank Rakyat Indonesia (Bank BRI) has teamed up with P2P lending marketplace Investree to provide working capital loans for entrepreneurs in the creative industry, an announcement revealed.

The bank has earmarked more than $143m (IDR 2t) for digital lending via Investree, a large portion of which will be allocated for the creative sector.

To date, Bank BRI has dispersed more than $14.3m (IDR 200b) in loans on Investree..

The collaboration will reportedly generate a form of invoice financing where BRI lends working capital to startups and MSMEs that have formalized business-to-business relationships with other local companies. Then, the borrower’s accounts receivable (such as open and or overdue invoices) will be the basis of each loan.