PEN Program Guarantee refers to a guarantee provided in accordance with Government Regulations concerning the Implementation of the National Economic Recovery Program (PEN), aimed at supporting the State Financial Policy for handling the Coronavirus Disease 2019 (Covid-19) pandemic and/or addressing threats to the national economy and/or the stability of the financial system, as well as safeguarding the national economy.
LEGAL BASIS
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Government Regulation of the Republic of Indonesia No. 43 of 2020 on the Implementation of the NATIONAL ECONOMIC RECOVERY PROGRAM GUARANTEE to Support the State Financial Policy in Handling the Coronavirus Disease 2019 (COVID-19) Pandemic
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Minister of Finance Regulation (PMK) No. 71/PMK.08/2020 on Procedures for Government Guarantees through Appointed Guarantee Institutions for the Implementation of the NATIONAL ECONOMIC RECOVERY PROGRAM GUARANTEE
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Decree of the Minister of Finance (KMK) No. 304/KMK.08/2020 on the Assignment to PT Jaminan Kredit Indonesia (PT Jamkrindo) to Implement Government Guarantees under the National Economic Recovery Program
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Cooperation Agreement No. PRJ-253/PR/2020 – 08/PKS/NON-OP/VII/2020 dated July 6, 2020, between the Ministry of Finance of the Republic of Indonesia and PT Jamkrindo
Eligible Debtors for Guarantee
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Borrowers whose businesses have been impacted by Covid-19
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Categorized as micro, small, and medium enterprises (MSMEs)
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Operated as individuals or legal business entities
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Must have a performing loan status (Classification 1 or 2) as of February 29, 2020, and at the time of credit application
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Not listed in the national blacklist (DHN)
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Possess a valid National Identity Number (NIK)
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Have a Tax Identification Number (NPWP) for loan amounts exceeding IDR 50 million
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Own valid business legality documents
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Fulfill the loan requirements of the Guarantee Recipient
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Operate a permanent business location within the territory of the Republic of Indonesia