Learn the complete requirements for applying for a KUR loan at BNI, BRI, and Mandiri, and find out the documents needed to start or develop a business.

People’s Business Credit (KUR) is a financing facility provided by the government through several banks in Indonesia to support the development of micro, small, and medium enterprises (MSMEs). This program aims to help business actors who need capital with lower interest rates and easier terms compared to regular commercial credit.

Although the goals are the same, each bank that organizes the KUR program has different terms and conditions. Therefore, before applying for a KUR loan, it is important to understand the terms and conditions set by the bank you choose.

Here is a complete guide to the KUR loan requirements at three major banks in Indonesia, namely Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI), and Bank Mandiri.

BNI People’s Business Credit Requirements

Bank Negara Indonesia (BNI) offers KUR facilities with a ceiling that can reach IDR 500 million. The KUR program at BNI is divided into two types, namely KUR Working Capital and KUR Investment.

For KUR Working Capital, the maximum repayment period is three years, while for KUR Investment, the repayment period can reach five years. The interest rate charged for KUR loans at BNI is 6% per year, which includes government subsidies.

The following are several requirements that must be met by prospective debtors to apply for KUR at BNI:

• Indonesian citizens (WNI) with a business that has been running for at least six months.
• The business being run does not have any loans from other banks, be it consumer credit or credit from other government programs.
• age 21 years or married.

Required documents:

• Membership Card (KTA) and Family Card (KK)
• Marriage certificate (for those who are married)
• Business legality documents (SIUP, SITU, TDP, and others)
• NPWP (if applying for a loan above IDR 50 million)
• Proof of land ownership and PBB (for loans above IDR 50 million)

By fulfilling these requirements, you can apply for a KUR loan at BNI and get financing to develop your business.

Requirements for People’s Business Credit from Bank Rakyat Indonesia (BRI)

Bank Rakyat Indonesia (BRI) offers three types of KUR, namely Micro KUR, Small KUR, and TKI (Indonesian Migrant Workers) KUR.

Each type of KUR has a different ceiling. For Micro KUR, the maximum loan ceiling is IDR 50 million, while Small KUR has a ceiling of up to IDR 500 million.

TKI KUR is intended for prospective TKI working abroad, with a loan ceiling of up to IDR 25 million. The interest rate applied at BRI for the KUR program is 6% per year excluding subsidies, and there are no additional administration fees.

Requirements for applying for KUR at BRI include:

• Micro KUR: Prospective debtors must have a productive business that has been running for at least six months and must not have loans from other banks, except for consumer credit.
• Small KUR: Debtors who apply for Small KUR must have run a business that has been running for at least six months and have a Micro and Small Business License (SIUMK) or other business license.
• TKI KUR: For this type, prospective debtors must complete documents such as KTP, KK, passport, visa, and work agreement with service users abroad.

Documents required for KUR application at BRI include:

• KTP and KK
• Business license (SIUMK for Micro and Small KUR)
• Passport and visa (for TKI KUR)
• Employment agreement documents for prospective Indonesian migrant workers

By fulfilling these requirements, you can apply for a KUR loan at BRI to develop your business or prepare for work abroad.

Bank Mandiri People’s Business Credit Requirements

Bank Mandiri offers various types of KUR that can help MSMEs. The types of KUR provided by Bank Mandiri are Micro KUR, Retail KUR, and TKI Placement KUR.

Micro KUR offers a ceiling of up to IDR 25 million, Retail KUR has a ceiling of up to IDR 200 million, and TKI Placement KUR has a ceiling of up to IDR 25 million.

Bank Mandiri also provides special KUR for business groups with a ceiling of up to IDR 500 million. For interest rates, Bank Mandiri offers 6% per year, excluding subsidies.

The requirements for applying for KUR at Bank Mandiri are as follows:

• Micro KUR and Retail KUR: Debtors must be at least 21 years old or married, and have no other ongoing credit. Debtors must also run a productive and viable business for at least six months.
• TKI Placement KUR: The minimum age requirement for this type of KUR is 21 years. If the prospective TKI is 18 years old, they must attach a letter of permission from their parents or guardians. In addition, prospective TKI must also have a minimum work agreement of two years with the service user placed by PPTKIS or the government.

Documents that need to be prepared when applying for KUR Mandiri:

• KTP and KK
• Business permits and business legality documents (SIUP, SITU, TDP)
• Passport and visa (for Indonesian migrant workers)
• Employment agreement for prospective Indonesian migrant workers

By fulfilling these requirements, you can apply for a KUR loan at Bank Mandiri for business needs or TKI placement.

People’s Business Credit (KUR) is one of the best financing solutions for MSMEs in Indonesia who want to develop their businesses.

Both Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI), and Bank Mandiri, offer various types of KUR with different ceilings, ranging from small loans for micro businesses to large loans for business investment.

Each bank has different requirements, but in general, the main requirements include Indonesian citizenship, a business that has been running for at least six months, and complete business legality documents.

In addition, it is also important to ensure that you do not have other ongoing credits, as this can affect the eligibility of your KUR application.

With low interest and easy requirements, KUR is the right choice to finance a business or prepare Indonesian workers who will work abroad.

So, make sure you carefully check the terms and conditions at each bank before applying for a KUR loan, so that your application process runs smoothly and successfully.