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I hope this is the case. We'll find out from the next PR. He said they had non equity lending sources. These banks are tripping over themselves to partner up, whether its directly or through their venture capital arms. They see their deposits decreasing day after day.
Using KFUND as a principal for loans.
There will be what you see now, the p2p. Where Indonesians can fund loans for other Indonesians.
Then what comes next is a partnership with a bank. Where KFUND acts as the facilitator for the bank to lend money.
See the banks realize they dropped the ball a long time ago. Who actually wants to leave the office, and go the markets, the farms, the rural areas and take the time to finance these people? Well, that's whats been happening, and now the banks see the money theyre losing that's going into the pockets of the lenders. So what better than to partner with the people who are taking all your business, or the business you were to lazy to chase.
KFUND, just like all the other p2p's which have partnered up with banks doesn't care who funds the loans, the fees still apply for facilitating the loan. Plus you gain access to the banks existing customer base.
Modalku partnered with Bank Sinarmas
Akulaku partnered with PT Bank Yudha Bhakti Tbk
Koinworks partnered with a subsidiary of Bank Mandiri
Amartha partnered with Bank Mandiri, as well as Perum Jamkrindo
Mekar partnered with Amar Bank
Etc., Etc.
Fees:
8. Are there any fees charged to get this service?
Yes, you as borrower or lenders will be charged the fee of our services, this fee is only paid one time in advance, before disbursement of loans. The cost is in accordance with the current provisions of the KFUND. In general, the cost of services charged to lenders is much smaller than that charged to borrowers of service fees charged to borrowers). This is because the risks incurred by lenders.
Company gets it money upfront. Along with any penalties for being late. They also facilitate life insurance and borrower insurance which is included in the administration fee paid upfront.
Limiting defaults, very smart. Keeping their TBK90 as high as possible. Will make a difference to lenders.
7. What is the borrowers credit score?
Credit score is a technology built by KFUND to select prospective borrowers. For prospective borrowers that we recommend for you to fund, we will categorize in the two categories of grade A1 (low risk) and Grade A2 (higher risk of Grade A1). We apply the yield according to the risk level where the returns received by the investor (lenders) also influenced the credit score of the borrower (borrower) financed. Accordingly, in line with the above risk level then the yield received by lenders for prospective borrowers with a Grade A2 category will also be greater than the prospective borrower category A1
This is a manifestation of our information disclosure to help investors in determining investment options with the level of risk and return to match the preferences of each Investor.
You have to be Indonesian citizen to fund loans. Theyre trying to help the country in both directions, with loans and making interest. This is actually in the law i believe. They allow foreign investors in the company itself, up to 80% ownership, but as far as using the app to fund loans, i dont think you can.
5. What are the General Conditions of Funding?
Indonesian citizen and has a KTP
Minimum age of 21 years, or 18 years for those who are married
Have Savings Accounts at BUMN, BUMD and National Private Banks
Sahala MP Siahaan
Chief Executive Business
Sahala Siahaan experts in Micro Credit and Micro & SME, as evidenced by his experience of more than 12 years in the micro field, from Account Officer, Area Manager, to his careers in Bank Mandiri headquarter.
Before joining KFUND, Sahala Siahaan worked in Bank BRI, Bank NISP, and Bank Mandiri. Sahala Siahaan, who has achieved bachelor degree in Padjajaran University and Master degree in University of Indonesia majoring in Management became one of the best trainers in Micro Credit field, and rank 1st nationally in Management Training Activities and Semi-Military Level Senior Manager in Bank Mandiri.
Nothing but the best!
Even the tatang_kami (about us) is designed great. Click on their pictures to get their bio's.
By far the best looking and functioning p2p site. Ive looked at them all. They did it right.
1.Toggle between languages
2. In depth faq page
3. Loan counter on first page, not buried
4. Coin program for kids
5. They have the tkb90 in the correct spot
6. Ojk and afpi logos in correct spot
7. Available loans shown
They need to fix the English links for loan and borrower, indo works. See this on alot of them, easy fix.
Great site.
The way the regulation (POJK No.77 / POJK.01 / 2016
Sumber: Prosedur Perizinan Penyelenggara Peer to Peer Lending di Indonesia) is written, there is no mention of the 30 day window. But what is on the application is a part where you need to stipulate what day the servers start being used for p2p lending. If they (KFUND)set a date, or if there was a maximum allowed date by the OJK, and your servers weren't operational, my guess is that it refers back to the regulation above. It looks like you get a written warning, then fines, then restrictions, then permit gets revoked.
They'll have it working. Check http://kfund.id around 9:00 PM EST tomorrow night.
Lol. Its already back up. Prepping for launch. Hope you bought in.
The odds are pretty good. They got their p2p registration done. App soon to be out. Company doesn't require much capital to run. Not going to be burning cash like 2019 with consulting costs for the p2p business. They'll be ok. You should put some money into buying some shares.
He shouldn't waste any time, walk straight over to the guy from Kejora Ventures, and ask him for money. They were the ones who got Investree off the ground. If they have $20 mil for a drone start-up, they must be overflowing with funding.
Global Ventures Summit 2020
Guess who's a key speaker?
Maybe with all that money flying around, some will land in KPAYs pockets.
https://www.gvsummit.co/
You're still worried about the one note left for the end of this month? Maybe you haven't been around here long enough.
You act like you're saying something ground breaking. No shit. This company had to write notes? When did that start?
How will they survive with a brand new source of major revenue? This isn't selling prepaid mobile cards anymore. Wake up.
I'm not worried
If you go back and look the p2p (KFUND) was available back on 10-3-2018 in the AppStore on the KPAY app.
Version 3.0.0
3.0.0
Oct 3, 2018
- Penambahan Fitur P2P, Pinjam Kredit Usaha Tanpa Agunan dari KFUND untuk Agen KPAY
- Penambahan Menu Redeem Voucher
"-Addition of P2P features, borrow uncollateral business credits from KFUND for KPAY agents
-Redeem Voucher Menu added"
There was also an update for users of the KPAY app available on 12-24-19 with p2p (KFUND) in it as well.
New in kinerja.kinerjapay 5.0.3
PerformancePay v5.0.3 rev 285:
- Adding P2P Features, Borrowing Unsecured Business Credit from KFUND, for KPAY Agents
- Adding a Redeem Voucher Menu
Let them finish perfecting it.
Stealth buying lots of 4,999
All those toxic notes? If you could read a 10Q, you would see that we only have 2 to deal with in January.
The issue dates were 7-8-19 (convertible at 181 days), and 7-31-19 (convertible at 180 days)
Nice try though.
Almost 17 mil in volume the last 2 days. I don't think you have to be a rocket scientist to see something is going on, and I don't think it's people piling in for a reverse-split.
The p2p is happening. I don't know how else as an investor you can get involved in what is going on over there, short of being a venture capitalist. KPAY used to trade above a $1.00 on pidily-shit revenue. So if you think you can suffer through looking at the next 10K, and they start showing revenue again for Q1 2020, how does the PR read when revenue goes from $480,000 to say $800,000 or even a million?
I could think of worse things to take a shot on.
F.O.M.O. is setting in
111,000 shares and were in the $.04's
The volume high was over 13 mil last year, don't think we quite make that today, but it's been a big day non the less
People are starting to realize whats going on here
Don't think I've seen an estimate, or if they can accurately provide one, on the amount for illegal p2p disbursed. I'll try to find out.
I know the number of illegals shut down was over 1,800 I believe.
The OJK just issued another ruling on Wednesday that says P2P lenders can not be headquartered in 2 areas, Central Park and Pluit, both in Jakarta. These are the 2 areas they believe that have a problem with illegal P2P companies. They don't want legal companies to be associated with those 2 areas. Basically, they are going to quarantine whats left of the illegal companies, continue the raids, until they get the message.
Easy.
2018 disbursed $1,635,145,600
2019 through November $5,378,806,400
Add in December were over $6 billion
About a 3.75x multiple
2020 projection $15-20 billion
2021 projection over $30 billion
As these companies keep up with the push for financial inclusion, and moving into more and more rural areas, and more and more millennials looking for a way to make some interest money that they cant get through a bank account. P2P has been accepted now. Were about 3 years in of legal P2P, its not going anywhere, and its not going to shrink. I can't wait until the AFPI gets its report back to the OJK and we end up with a finite number of licenses. Were in the game.
We're officially AFPI members!
https://www.afpi.or.id/listfintech/page/9
#89 (alphabetical)
They actually pulled the link for the KFUND website off their Google page. They have to be getting close, or their sick of us repeatedly checking it.
9pm EST tonight is when they open on Friday.
$143 mil partnership for Investree.
Announced today. They will partner up with Bank BRI to hand out $143 mil in loans to creative entreprenuers.
Imagine the fees generated by that.
https://e27.co/bank-bri-investree-partnership-earmarks-us143m-to-promote-creative-entrepreneurs-in-indonesia-20200108/
$5,378,806,400
That is the total p2p loans disbursed through the end of November 2019. Still dont have full December totals yet.
To put in perspective how much p2p is growing in Indonesia, the whole year 2018 total disbursed was $1,635,145,600.
https://keuangan.kontan.co.id/news/sepanjang-2019-p2p-lending-gandengtangan-salurkan-pinjaman-rp-14-miliar
2019 GandengTangen
https://keuangan.kontan.co.id/news/sepanjang-2019-p2p-lending-gandengtangan-salurkan-pinjaman-rp-14-miliar
Got registered in February. Did just over $1 mil.
Targeting $9.3 mil disbursed in 2020
2019 Akseleran
https://jateng.tribunnews.com/2020/01/08/akseleran-catat-penyaluran-pinjaman-usaha-di-jawa-tengah-capai-rp-36-miliar
Top 5 provinces totaled $48 million for just business loans.
2019 numbers starting to come out.
Article from today: http://www.neraca.co.id/article/126618/amartha-catatkan-penyaluran-pendanaan-rp18-triliun-dengan-npl-08
Amartha almost $130 million in loans disbursed.
Wow, so now all of a sudden the mm's don't have shares to sell?
Guess they want it back in the $.02's
You post on the RemSleep board, a company issuing notes, and has a $3 million dollar loss so far this year.
Is that the type of winner your talking about?
Awful flooding in and around Jakarta. 60 dead, and 35,000 out of their homes.
Wish these people the best in getting their lives back together. The blackouts probably explain some things.
(Another)Pretty good for launching today.
Danon, another of the companies that got registered with KFUND on the 20th, #146, launched their site today. App not in Play Store yet, strictly through site.
$3,657.21 to 11 borrowers
I could live with that.
https://www.danon.id/
You're frankly shocked? There were 20 companies that got registered on the 20th. You want to guess how many have a site up and running? How about apps in the Play Store? You want me to do the work for you, or are you just here to criticize everything about KFUND?
Is this good?
Puhui Lending (PT Lufax) got registered the same day as KFUND. As a matter of fact, they are #158, KFUND is #157.
So since 12-20-19, or assuming they got the app up and running shortly after, they have disbused already $327,449 in loans to 13,060 borrowers.
I'll wait for you to tell me all the "funding" they have.
https://www.puhuilending.id/index.html
Yeah sounds real good, considering the OJK banned virtual currencies last year.
That's what I'm seeing too. I'm betting on Monday launch.
Anyone else expecting a PR after close?
I am.
Something like this" We are pleased to announce the KFUND app will launch Monday morning. We will be going forward with the 100:1 reverse split as soon as legally possible."
By a quick look through the 10Q at the notes I believe would still be active, I see at least 8 that will have a $15,000 penalty for going below the $.01 mark. As well as a few with increased discounts. So whats another $90,000?
Say hello to $1.90 a share.
Also to all the wonderful people saying "they've never seen a company survive a reverse split in their 110 years of investing". Do you have the internet? Try using it.
Priceline
Citigroup
Biglari Holdings
Lending Club
Frontier Communications
Xerox
Staffing 360 Solutions
Harte Hanks
AIG
Motorola
E Trade
Organovo Holdings
Inovio Pharmaceuticals
Anavex Life Sciences
Blue Apron
Pier One Imports
Let me know if you need more
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anokiyoshi_
"Something exciting is coming. Can't wait to do many things in 2020. Grateful for 2019. I'm a victorious people, son of the Highest!"
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From the lastest pic, top left.