UNS — Research Group (RG) Banking and Finance Study Program D3 Finance and Banking Vocational School (SV) Universitas Sebelas Maret (UNS) Surakarta supported by the Institute for Research and Community Service (LPPM) UNS organized Community Service Research Group Grant (PKM HRG) with the theme “Literasi Lembaga Keuangan Bagi UMKM di Kampung Wisata Baluwarti Kota Surakarta” (Financial Institution Literacy for MSMEs in the Baluwarti Tourism Village, Surakarta). The activity which was attended by 30 Baluwarti MSME participants was held at Ndalem Gito Puspitan, Gambulan RT 04/RW 02 Baluwarti, Surakarta, Tuesday (13/6/2023).
By presenting two speakers, namely Susana Dwi Kusumaningrum as the Head of Consumer Education and Protection Subdivision of Solo Financial Services Authority (OJK) and the Credit Analyst Section of Bank Jateng, Surakarta Coordinating Branch Office (KCK).
The service program for MSMEs in Baluwarti is chaired by Endang Martini S.Pd., M.Sc., along with lecturers and students of the D3 Finance and Banking Study Program, SV UNS. Endang Martini conveyed that this dedication aims to make MSME participants literate, both in understanding and knowledge about financial institutions that are official and recognized by the OJK and related to business capital, namely bank credit.
“The rise of illegal online loans has moved us to educate about bank credit so that we can improve business and prosperity for business actors, in this case MSMEs in Baluwarti. MSMEs must get the right education so they can choose a trusted financial institution that is recognized by financial institutions in Indonesia, the OJK,” she said.
The PKM HRG Team of the D3 Finance and Banking Study Program SV UNS hopes that by holding this financial institution literacy program, MSMEs can be free from illegal online loans and be educated in the financial sector.
Susana Dwi Kusumaningrum from OJK explained the importance of education and awareness in financial management, especially those related to trusted and recognized financial institutions supervised by OJK.
“Currently there are many financial institutions that offer convenience in obtaining financial loans. This should be a warning for anyone so that unwanted things don’t happen. One of them is because there are financial institutions that are illegal and financial crimes are rampant in the digital era,” Susana said.
Susana added that there are things that must be done when applying for an online loan. “There are things to watch out for when applying for an online loan. They are checking the legality of online loans, fees charged, complete online loan identity, borrowing for productive needs, being thorough and understanding the terms and conditions, borrowing according to ability, checking access that can be accessed by online loans, and don’t dig holes to close holes, which means don’t make online loans to cover other loans,” she continued.
The OJK provided advice related to the question of how to get capitalization without complicated requirements, that is, you can apply to the OJK and then you will be given easy and cheap financing. However the plafond is not too large or just under IDR five million. Surely we have to apply the careful precautionary principle.
The second session was provided by the Credit Analyst Section of Bank Jateng KCK Surakarta, who explained the things that MSMEs need to do before accessing capital. There are calculating needs based on business plans, getting to know various types of access to capital, calculating assets and company value for negotiation, discussing details of agreements with potential investors, and evaluating the cost of capital.
Debtors who have borrowed from financial institutions and have bad credit installment report cards will find it difficult to get more capital. It is due to the fact that they have been assessed as debtors who do not have good faith. MSMEs can apply for Microenterprise Credit (KUR) according to their willingness and use it for business capital with one of the conditions, namely a minimum age of 21 years old and a maximum age of repayment of 65 years old.
For online businesses, they can apply for a loan if there is business stock. Meanwhile the financial reports can be seen from the financial transactions that occur in the online shop. MSMEs can make repayments on their loans after they have money, namely by applying for seasonal credit. This credit is usually repaid within six months of the loan. For KUR there is no penalty if repayment is made earlier than the credit agreement.
This activity was running actively and conducively as seen from the enthusiasm of the MSMEs in the Baluwarti Tourism Village who were able to attend and provide a number of questions to the presenters related to financial literacy for their business capital. Humas UNS