Bank Raya offers instant bailout funds for faster small loan disbursements
Borrowers can access up to US$1,700 in loans.
Bank Raya is now offering instant bailout funds to its BRILink agents nationwide.
The new service allows BRILink agents to instantly access up to US$1,700 (Rp25m) and offer borrowers multiple repayment periods of five, 15, and 30 days.
Previously, BRILink agents could only access a small amount of capital for issuing loans, with a waiting period of up to two weeks for approval.
The instant fund disbursement service is part of Bank Raya’s goal to increase its small loan disbursementse via BRILink agents to $526m (Rp7.7t) by end-2022, Bank Raya CEO Kaspar Situmorang stated in the press announcement.
“There are now around 600,000 BRILink agents nationwide. But to be eligible for this particular Pinang Paylater bailout loan facility, agents will need to have what we call ‘Champion’ or ‘Skipper’ levels of seniority. So for now, this is approximately 50,000 agents,” Situmorang said.