Learn about the various important requirements for applying for a Mandiri KUR loan, from citizenship status to business eligibility that must be met for the application to be approved.
Mandiri KUR Loan is one of the financing solutions provided by Bank Mandiri for micro, small and medium enterprises (MSMEs) in Indonesia. This program is designed to support business growth by providing loans with low interest rates and flexible tenors.
Although the loan application process is relatively easy, there are several requirements that must be met to ensure that the loan applied for can be approved by the bank. Here are 10 requirements you need to know if you plan to apply for a Mandiri KUR loan.
1. Status of Indonesian Citizen (WNI)
The first requirement you must meet is citizenship. Mandiri KUR is only intended for Indonesian citizens (WNI). So, if you are not an Indonesian citizen, you cannot apply for this loan.
This decision was taken because KUR Mandiri was designed to help domestic business actors. Therefore, make sure your citizenship status is correct before continuing with your loan application.
2. Minimum Age 21 Years
To apply for a Mandiri KUR loan, you must be at least 21 years old. This requirement aims to ensure that the borrower is mature enough and has the ability to manage the loan wisely.
However, if you are married, you can still apply for a loan even though you are not yet 21 years old, as long as your partner can also support this application. This provides flexibility for those who are younger but already have a family.
3. Have a business that has been running for at least 6 months
Mandiri KUR tends to be given to business actors who have had a business running for at least 6 months. This is intended to ensure that the entrepreneur has sufficient experience in running a business and has a good track record.
In this way, the bank’s risk in providing loans can be further minimized. Make sure your business has been running smoothly for at least 6 months before applying for a loan.
4. Valid Business Documents
Legal and valid business documents are one of the main requirements for applying for Mandiri KUR. You must prepare documents that can show that your business is registered and legally valid.
The documents required include a Trade Business License (SIUP), Company Registration Certificate (TDP), or other documents relevant to your type of business. Bank Mandiri will verify these documents to ensure that your business is legally accountable.
5. Business Not Included in a Certain Category
Mandiri KUR is only given to businesses operating in certain legitimate sectors and not violating the law. Bank Mandiri does not provide loans for businesses engaged in prohibited fields, such as gambling, prostitution, or drugs.
Make sure that your business is not included in the prohibited categories, because if not, your loan application will not be approved.
6. Have a Mandiri Bank Account
To expedite the KUR Mandiri loan application process, you are required to have an account at Bank Mandiri. This account will be used to carry out the loan disbursement process if your application is approved.
If you do not have an account, you can open a Bank Mandiri account at the nearest branch. This also makes it easier to manage your loan in the future, because all loan-related transactions will be made through this account.
7. Not currently registered on the blacklist
Make sure you are not blacklisted or blacklisted by other financial institutions before applying for a loan. Bank Mandiri will check your credit history through the credit information system.
If you have bad credit or other financial problems, you should resolve them first before applying for a Mandiri KUR loan. If you are already blacklisted, your loan application will most likely be rejected.
8. Business Feasibility and Guarantees (If Required)
Although KUR Mandiri is often given without collateral, in some cases, Bank Mandiri may ask for additional collateral, especially if you are applying for a large loan or your business is considered high risk.
Make sure your business has good feasibility and has the potential to grow. Having a mature business plan and explaining your business prospects will increase your chances of getting a loan.
9. Loan Amount and Purpose of Use
KUR Mandiri offers loans with varying amounts, starting from IDR 5 million to IDR 500 million, depending on the type and purpose of the loan you are applying for.
Before applying for a loan, make sure you have a clear plan regarding the amount of loan needed and how you plan to use the funds.
Bank Mandiri will verify whether the use of the funds is in accordance with applicable provisions. Don’t forget to explain in detail the purpose of using the funds so that the loan application process is smoother.
10. Easy Application Process
One of the advantages of KUR Mandiri is the ease of the application process. Now, you can apply for a KUR Mandiri loan online through the Mandiri Online application or come directly to the nearest Bank Mandiri branch.
The online system makes it easy for you to apply for a loan without having to come to the bank, just a few clicks. After the application is received, the Bank Mandiri team will verify all the data you submitted. If approved, you only need to wait for the disbursement process.
Mandiri KUR Loans are an excellent choice for micro, small, and medium business owners who need funds to develop their business.
With various benefits, such as low interest rates and an easy application process, Mandiri KUR and KUR BRI can be the right solution for entrepreneurs in Indonesia. However, make sure you meet all the requirements mentioned above so that your loan application runs smoothly.
Starting from citizenship status, age, valid business documents, to business eligibility and collateral. By meeting these requirements, you will have a great chance of getting a Mandiri KUR loan and helping your business grow further.
