PermataBank’s Support for Indonesian Fashion Industry

Fashion industry may be the second largest contributor to Indonesia’s creative economy sector. Yet, despite its rapid growth, the industry still encounters many challenges to grow and expand both their domestic and international markets.

The difficulties were disclosed in a press conference held by PermataBank on Tuesday, 4 November 2014. Located in media center Jakarta Fashion Week (JFW) 2015, Senayan City, Jakarta, it was mentioned that, in addition to market access, raw materials and capital are the hugest obstacles for Indonesian fashion entrepreneurs. “When we assisted a team of Indonesian designers to hold a fashion show abroad, we found out that they were not ready to accept orders. So, it is not just about funding. Designers also need to upgrade their knowledge of financial management, including readiness to enter the industry,” explained Baslir Djamal, a member of JFW 2015 Executive Board.

 

No wonder if JFW has always worked closely with banking industry to address these challenges. This time, the main sponsor of JFW 2015 is PermataBank. “Indonesia’s creative industry has a huge potential to improve the country’s economy. Unfortunately, our entrepreneurs are not familiar with banks. They feel that borrowing money from a bank is complicated, (it has) so many requirements. However, entrepreneurship needs capital, and the safest capital comes from banks,” said Aditya from PermataBank.

 

As a support for fashion industry, PermataBank presented PermataKTA Bisnis, a special loan for small and medium enterprises, be it individual customers, partnerships, or limited liability companies. The loan may be used as capital financing or investment without any collateral, which is usually quite burdensome for entrepreneurs. Any small and medium entrepreneurs who already have their business running for a minimum of three years with a minimum turnover of Rp. 90 million per month can apply for the loan. The amount of the loan ranges from Rp. 100 million to Rp. 1.5 billion, and the funds may be liquid within five days. The loan term is up to three years,

“We saw a gap, the obstacles when entrepreneurs want to borrow capital from banks. Hopefully, PermataKTA Bisnis will be the solution for fashion entrepreneurs, so that they can be more creative without having to be worried about funds,” mentioned Aditya. (Andiasti Ajani/