# Kredit Usaha Rakyat (KUR)

## Kredit Usaha Rakyat

## People's Business Loans

People's Business Loans (KUR) are provided by banks to MSMEs that are feasible but not yet bankable. KUR is aimed at expanding and enhancing the Bank's services to productive MSMEs, improving the competitiveness of MSMEs, spurring economic growth, expanding employment, and reducing poverty.

Bank Mandiri People's Business Credit (KUR) offers 3 types of loans:

1. Micro KUR, with a loan limit up to Rp 25 million per borrower and a maximum tenor of 2 years.
2. KUR Retail, with a loan limit of more than Rp 25 million up to a maximum of Rp 200 million per borrower, and a maximum tenor of 3 years for working capital loans and 5 years for investment loans.
3. 3. KUR Migrant Worker, with a loan limit of Rp 25 million per borrower and a tenor that is tailored to the duration of the employment contract or a maximum of 12 months.

### Features & Benefits:

- Quick and easy loan process
- Easy terms
- Limit of up to Rp. 500 Million
- Security in the form of the object financed
- 9% effective annual interest rate
- No additional security is required for KUR Mikro and KUR Migrant Worker, while for KUR Retail, fixed assets may be pledged as additional security, in accordance with the relevant requirements.
- Maximum loan tenor of up to 15 years, may exceed pension age
- Life insurance

### Application Requirements :

- Applicant must be at least 21 years of age or married (as evidenced by Electronic Identity Card (E-KTP) or Birth Certificate / Acknowledgement of Birth or Family Registration Card (KK) or Marriage Certificate issued by the competent authority. Maximum age of 60 at time of repayment of loan.
- In accordance with IDI-Bank Indonesia, the Applicant/Borrower currently does not have an outstanding loan or the Applicant/Borrower has an outstanding loan (such as a home or motor vehicle loan or credit card) that categorized as “performing,” and does not appear on the National Black List for bad checks or giros.
- In the event that the applicant/borrower has a debit balance on a productive loan and / or a loan program other than KUR but has repaid it, a Certificate of Discharge and current account statement for the previous month from the relevant bank is required.
- Not on the National Black List for bad checks or giros.

### KUR Migrant Worker

- Applicant must be at least 21 years of age or married (as evidenced by Electronic Identity Card (E-KTP) or Birth Certificate / Acknowledgement of Birth or Family Registration Card (KK) or Marriage Certificate issued by the competent authority. The minimum age threshold may be reduced to 18 provided that consent to work overseas is provided by spouse/parent/guardian.
- In accordance with IDI-Bank Indonesia, the Applicant/Borrower currently does not have a loan or the Applicant/Borrower has a loan that is categorized as “performing” and does not appear on the National Black List for bad checks or giros.
- Has an employment contract in the case of migrant worker placed by PPTKIS, Government or TKI who works on an individual basis.

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