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VOL. 10, ISSUE 1 (2024)
Financial services institution literacy online loans in the community village Cawang East Jakarta
Authors
Lenny Panggabean, Yusuf Rombe M Allo, Thomas Zen, Otniel Edwina Priscilla Yusuf
Abstract
The existence of online loans has become a polemic due to the low
financial literacy of the Indonesian people. This certainly risks making online
loan debtors trapped in a debt trap so heavy that they are unable to pay their
installments. Improving the literacy of online loan financial service
institutions so that, 1) People are wiser in using online loans, 2) The
community understands and chooses online loan providers that are legitimate and
legal and have been registered with the Financial Services Authority (OJK)
Regulation. This activity will be carried out in collaboration with Cawang
Village, East Jakarta. And carried out on Saturday, August 11, 2023 at 09.00 -
16.00 WIB offline with 80 participants who live around Cawang Village, East
Jakarta, with a background as Small Medium and Micro Eenterprises (UMKM)
actors. The method used to solve these problems is to use several methods,
namely: a) Lecture Method: The lecture method is used to convey the basic
theories and concepts that the community must know about online loans. So that
people understand about online loans. b) Demonstration Method; This method is
carried out as a training stage in this Comunity Service activity. With
demonstrations and real practices from resource persons, the Cawang community as
participants can actually observe and understand the problems they face. In the
utilization of online loan funds, most partners use it as additional business
capital, namely 42 people or (52.50%), for school fees 23 people (28.75), for
consumptive purposes 10 people (12.50%) and who use loans as much as 5 people.
funds to pay debts. In the process of returning the loan facility to their
startup company, some partners experienced obstacles / difficulties and some
partners also did not experience any difficulties at all in the repayment
process. In general, partners are familiar with and use online loans for
various needs, but do not understand the repayment period scheme, interest
calculation and the purpose of online loans. There needs to be continuous education
about online loans so that people do not get caught up in the problems of
online loans themselves.
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Pages:68-74
How to cite this article:
Lenny Panggabean, Yusuf Rombe M Allo, Thomas Zen, Otniel Edwina Priscilla Yusuf "Financial services institution literacy online loans in the community village Cawang East Jakarta". International Journal of Commerce and Management Research, Vol 10, Issue 1, 2024, Pages 68-74
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