Lots of Bad Credit, Acceleration in Stop Property Sector Loans

News, 08/01/2020

Lots of Bad Credit, Acceleration in Stop Property Sector Loans

PT Akseleran Inclusive Finance Indonesia (Akseleran) confirmed that it had stopped lending in the property sector since September 2019.

"So as a clarification, we stopped it (loans) in the property sector," said CEO & Co-Founder of Acceleration Ivan Nikolas Tambunan, Jakarta, Wednesday (1/15/2020).

The termination of the loan distribution was due to a late payment or non-performing loan by the property developer.

However, Ivan was unable to mention who the property developers were involved in and how much the non-performing loan was intended.

"Wow, sorry I can't disclose it," said Ivan.

Ivan himself admitted the sale of the property sector such as housing is very difficult. As a result, the property developer cash flow is affected so that defaulted loans.
Previously, Akseleran had also funded loans for subsidized houses, but it did not work well. "We used to finance subsidized housing developers, but the sales were not good," Ivan said. Until now, Ivan has not been able to ascertain when he will return loans in the property sector. "Don't know yet, for the time being, we stop," Ivan concluded concisely.

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