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Product Info

National Economic Recovery Capital Loan Insurance (KMK PEN)

Pemulihan Ekonomi Nasional (PEN) or National Economic Recovery is a program to relieve the impact of COVID-19 on the economy. Other than health crisis management, the government also runs PEN Program as a response to the decrease in people’s activity that affect the economy, especially in informal and MSMEs sectors.  

 

PEN is a government’s program that is regulated under the Government Regulation No.23 of 2020 regarding the Implementation of National Economic Recovery Program to support the state’s financial policy for the coronavirus disease 2019 pandemic management and the Decree of the Finance Minister No.71 of 2020 regarding the Government’s Insurance through the Government’s Insurance Bodies that hae been appointed for the PEN program. 

To support the Insurance Program, the Government has appointed PT. Askrindo to carry out the Government’s Insurance under the National Economic Recovery Program scheme in accordance with the Decree of the Finance Minister No.305/KMK.08/2020 dated June 26, 2020.

Obligee

The Obligee is banking institution that meets the following criteria:

  • General bank
  • Has good reputation
  • Categorized as Healthy Bank with composite 1 or 2 rating based on the Bank Health Rating Assessment by the Financial Services Authority (OJK).

Benefits of KMK PEN

Benefits of KMK PEN

Fixed payment

Provides payment insurance for KMK PEN Channeling Financial Institutions in case of default

Payment access

Expands Debtor’s access to funding sources

Reduce The Risk

Reduces risks faced by the KMK PEN Channeling Financial Institution by lending loans to KMK PEN Debtors

Helps Business Development

Helps productive business development for MSMEs during the COVID-19 pandemic time

KMK PEN Product Feature

KMK PEN Product Features

1
1

Capital Loans


Guarantees working capital loans to MSMEs for new submissions or additional working capital in the context of re-structuration with a maximum total loan ceiling of Rp. 10 billion

2
2

80% Coverage


Maximum coverage is 80% of the remaining principal + interest arrears or a maximum of the loan ceiling value

3
3

Closure policy


Closure policy can be done by means of CAC and CBC with coverage of 80%

4
4

Loan Period


The maximum term of the KMK PEN program loan is 3 years

5
5

Loss Limit


Receives loss limit support from the government if the CLAIM exceeds 90% (ninety percent) of the accumulated insurance fee received by the INSURER

Benefits of KMK PEN

Benefits of KMK PEN

Fixed payment

Provides payment insurance for KMK PEN Channeling Financial Institutions in case of default

Payment access

Expands Debtor’s access to funding sources

Reduce The Risk

Reduces risks faced by the KMK PEN Channeling Financial Institution by lending loans to KMK PEN Debtors

Helps Business Development

Helps productive business development for MSMEs during the COVID-19 pandemic time