"The pandemic, which has begun to subside this year, has highly increased the selling power of MSMEs, as well as the purchasing power of consumers. Sales channels are also increasing and are not only centered on the online realm as in the last two years. Restock.id is ready to facilitate borrowers who are ready to expand, to grow and develop," explained M. Audi Vialdo, Restock.id chief risk officer.

"Bank Ganesha's channeling scheme through fintech [financial technology] lending is expected to help its expansion of reaching MSMEs across Indonesia, especially with Restock.id’s unique industry focus, namely the creative industry and digital-based fashion retail," said Octavian, the head of Bank Ganesha’s consumer and fintech channel division.

The collaboration between Restock.id and Bank Ganesha aims to advance the financing sector for the MSME segment by distributing business financing in the form of inventory financing with credit facilities of up to Rp 25 billion (US$2.33 million). The signing of this collaboration was carried out at Bank Ganesha's head office at Wisma Hayam Wuruk in Jakarta and was attended by Tiar Nabilla Karbala (CEO of Restock.id), Audi, Setiawan Kumala (director of Bank Ganesha) and Octavian.

Restock.id is also starting to collaborate with other banks and other institutional lenders.

"The collaboration with Bank Ganesha is expected to help MSMEs during the pandemic. This collaboration is expected to further assist Restock.id in increasing the credibility of MSMEs in Indonesia," Audi said.

Since its establishment in 2019, Restock.id's P2P lending platform has been providing funding solutions for MSMEs, starting from financing the production of goods (inventory financing in which products, assets or business inventory are used as collateral to get financing.

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