Let me make it clear about tiny loans to

Let me make it clear about tiny loans to
FROM being called ‘worse than loan sharks,’ to more basic reviews stating that it really is nearly impossible to have a loan through the web site, UangTeman is surviving, as well as, seemingly thriving.
Talking recently to Digital Information Asia (DNA) in Jakarta, its cofounder and ceo Aidil Zulkifli (pic above) admits as a free promotional tool that he struggled with the bad publicity at first, but managed to use it.
“We are actually nine months old, operating fast and doing pretty much. Being a startup, you must never be afraid of bad press; you simply should find out how exactly to handle it,” he claims.
UangTeman, or ‘Friend’s cash’ in English, began operations in April 2015, and it has been growing 20% to 25per cent month-on- thirty days since, based on Aidil.
The monetary solutions technology (fintech) startup dispenses pay day loans to individuals in need of assistance: tiny, short-term loans to greatly help borrowers endure due to their daily requirements until their next paycheque.
Borrowers usually takes around no more than Rp2 million (US$148.60) and at the least Rp1 million (US$74.20) the first-time, but are charged a 1% interest a day for the next 18 to 25 times.
Even though many start to see the 1% day-to-day rate of interest as an excessive amount of, Aidil contends that here is the only fee that clients have to deal with – there are no management or processing costs.
He keeps the attention price is “relatively okay” compared utilizing the danger the faces that are startup day.
“We aren’t a bank; we don’t gather money from individuals. […]