Gaspol Today: Online Loans Are Not the Solution, Mothers Have Their Own Ways

JAKARTA, KOMPAS.com - The rise in online loan users in Indonesia presents a significant concern.

This issue has become more pressing following the Financial Services Authority's (OJK) report that outstanding loans, or unpaid debts, reached Rp 105.14 trillion in June 2026.

Problems arise when individuals utilize illegal online loans that lack legal backing.

This type of borrowing can lead to various issues, including non-transparent interest rates, misuse of personal data, and unlawful collection practices.

Ridzki Wibowo, a researcher at the Institute for Development of Economics and Finance (INDEF), noted that the proliferation of online loans is largely due to their easy access.

He also pointed out the impulsivity that leads people to borrow money without considering the repayment burden.

“Initially, the limit given is small. However, as borrowers demonstrate a good repayment history, the limits increase. There eventually comes a point where the limits exceed what the borrower can handle, leading to significant defaults,” Ridzki explained during the Gaspol program on Kompas.com's YouTube channel, which aired on Monday (19/10/2026).

Ridzki highlighted more secure lending options available to the public, particularly for those classified as economically disadvantaged.

He revealed that the government has a loan program available through the state-owned enterprise, PT Permodalan Nasional Madani (PNM) (Persero).

Unlike online loans, PNM not only provides financing but also offers empowerment and support to its borrowers, primarily homemakers.

“Online loans tend to focus more on consumer lending, with over 80 percent allocated for consumption. In contrast, PNM targets disadvantaged homemakers, with loans aimed at supporting productive activities. There is also guidance integrated into PNM's lending model,” he said.

Meanwhile, Kindaris, the President Director of PT PNM Persero, clarified that PNM's role extends beyond just providing credit.

He emphasized PNM's strong focus on empowerment.

Kindaris discussed the PNM program known as Mekaar, which supports families' economic well-being through homemakers.

To qualify for loans, these women must form groups of at least ten.