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What are the consequences for borrowers if the loan is declared NPL?

Diterbitkan:

Every loan application in KoinWorks had been through a really strict qualification process just like OJK suggested to us.

We have an obligation to do the strict process and report the borrower performance to OJK and Bank Indonesia.

If borrowers fail to pay the loan, it will significantly reduce its reputation which is logged in the Bank Indonesia database.

This will greatly reduce the chance of the business to get funded in the future in every financial institution.