Medan, Indonesia — As part of its ongoing efforts to accelerate financial inclusion and broaden safe, accessible financing for micro, small, and medium-sized enterprises (MSMEs), PT Jaminan Kredit Indonesia (Jamkrindo) has guaranteed loans for 66,778 KUR (People’s Business Credit) borrowers in North Sumatra between January and June 2025. The figure represents a 10 percent increase compared to the same period in 2024, underscoring the company’s expanding role in Indonesia’s inclusive financing ecosystem.
Alexandry, Jamkrindo’s Regional Head for Medan, noted that the guaranteed loans helped create or sustain employment for 647,999 individuals. The total value of the guarantees issued in the province reached IDR 4.16 trillion in the first half of 2025—half of Jamkrindo’s full-year target of IDR 8.3 trillion for the region.
“Jamkrindo’s guarantees enable MSMEs to access credit they might not otherwise secure through traditional channels. The KUR program, backed by the government, is central to that goal,” Alexandry said during a media briefing in Medan on Thursday, July 24. “We play a strategic role within this ecosystem by facilitating financing for entrepreneurs at the grassroots.”
For Joni Ketaren, a 55-year-old rattan craftsman and business owner in Medan, the support from Jamkrindo has been life-changing. Joni received two rounds of KUR loans of IDR 50 million each, without the need for collateral. “The bank representatives told me I didn’t need to put up any collateral because Jamkrindo was backing the loan,” he recalled. “That was a huge help for me—and likely for many others like me.”
Joni’s business, Sibayak Rotan, was founded by his parents and has grown steadily since receiving the financing. The increased capital has enabled him to expand production and workforce. “Back when my parents were running it, we had only two workers. Now I employ six, and during peak seasons—like ahead of Eid, Lunar New Year, or year-end holidays—I hire up to ten,” Joni added.
Beyond KUR guarantees, Jamkrindo also supports MSMEs in the services sector through Surety Bond and Counter Bank Guarantee products. One such beneficiary is PT Putra Karya Maduma, a local electricity contractor.
“In procurement, project owners often require guarantees—bid, performance, and maintenance bonds,” explained Steve Excel Korua, the company’s Chief Operating Officer. “When a Bank Guarantee is required, Jamkrindo helps us by providing the guarantee. This minimizes the cash collateral we must set aside with the bank, freeing up funds for working capital.”
Nationally, Jamkrindo guaranteed loans for 2.79 million MSMEs during the first half of 2025. According to Krisna Johan, Jamkrindo’s Corporate Secretary, the company’s guarantee services remain vital to expanding access to credit and nurturing the backbone of Indonesia’s economy.
“Through our guarantees, we absorbed 7.78 million jobs across the country,” Johan said. “It reinforces the central role that MSMEs play in job creation and economic development.”
About Jamkrindo
PT Jaminan Kredit Indonesia (Jamkrindo) is a credit guarantee company under the Indonesia Financial Group (IFG) holding. It offers a broad range of guarantee products, including both government programs and non-program guarantees. For program-based guarantees, Jamkrindo provides KUR guarantees. Its non-program offerings include general credit guarantees, microcredit guarantees, bank guarantees, construction and procurement guarantees, goods distribution guarantees, as well as surety bonds, customs bonds, supply chain financing (invoice financing), and other credit guarantees.
Corporate Secretary
PT Jaminan Kredit Indonesia (Jamkrindo)
Krisna Johan
Email: [email protected]
Press Release
PT Jaminan Kredit Indonesia (Jamkrindo)
Thursday, July 24, 2025