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Indonesian HR startup Gadjian partners with KoinWorks to provide loans for Eid bonuses

Written by Ursula Florene Published on   2 mins read

The program Koin Gaji THR 2020 aims to help business owners that have been hit by the pandemic.

The month of Ramadan is usually a happy moment for Indonesian workers as they receive their mandatory Eid bonuses (THR). However, this year is different.

Due to the coronavirus outbreak, many businesses are struggling to generate revenue and stay afloat. A lot of companies are cutting salaries and are even firing employees to reduce costs. Many fear that they won’t get any extra money this year.

The Indonesian human resources startup Gadjian has teamed up with peer-to-peer lending firm KoinWorks to launch a program called Koin Gaji THR 2020. It aims to help business owners that are hit by the pandemic, so they can still pay out the bonus.

“We hope the Koin Gaji THR program is an option for business owners to alleviate the complicated wage problem in this crisis,” said Gadjian’s CEO Afia R. Fitriati in a statement.

Even though many businesses are badly hit, Indonesia’s Ministry of Labour doesn’t allow companies to suspend the mandatory bonuses. However, the ministry permits postponement or payment in instalments.

The program is open for businesses in all sectors with a minimum of five employees. Companies have to prove that they have cashflow problems, such as pending payments from clients.

Gadjian is responsible for the initial screening and promotion, while KoinWorks helps applicants to get the loan they need with “reasonable loan interest”, said Afia. Once approved, the bonus will be transferred to the employee’s bank account within three days. Applicants don’t have to join Gadjian’s platform to apply for the loan.

Afia added that the loan interest is around 2% with a 3 to 6-month repayment period.


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