FROM being called вЂworse than loan sharks,’ to more basic reviews stating that it’s extremely difficult to obtain that loan through the web web web site, UangTeman is surviving, as well as, apparently thriving.
Talking recently to Digital Information Asia (DNA) in Jakarta, its cofounder and ceo Aidil Zulkifli (pic above) admits as a free promotional tool that he struggled with the bad publicity at first, but managed to use it.
“We are actually nine months old, operating fast and doing pretty much. As being a startup, you must never be scared of bad press; you merely should find out how exactly to manage it,” he claims.
UangTeman, or вЂFriend’s Money’ in English, began operations in 2015, and has been growing 20% to 25% month-on- month since, according to Aidil april.
The monetary services technology (fintech) startup dispenses pay day loans to individuals in need of assistance: tiny, short-term loans to greatly help borrowers survive because of their day-to-day needs until their next paycheque.
Borrowers usually takes around a optimum of Rp2 million (US$148.60) and at the least Rp1 million (US$74.20) the very first time, but they are charged a 1% rate of interest each day for the following 18 to 25 times.
Even though many start to see the 1% day-to-day rate of interest as excessively, Aidil contends that this is actually the only fee that customers need certainly to deal with – there are no management or processing charges.
He keeps the attention price is “relatively okay” compared aided by the danger the startup faces every day. Continue reading “Let me make it clear about tiny loans to tide you over till payday”