Pay Attention to This Before Applying for a Productive Loan!

For fish farming business people, capital is the main issue that is often the main concern. Not a few are indebted to middlemen because of difficulties in obtaining access to financing from banks, resulting in increased operational costs and lower net profit. 

There are two characteristics of productive debt (loans) that cultivators should pay attention to. The loan can increase income in the future and can increase the value of wealth in the future. However, these two characteristics must be considered carefully so that they do not become a problem in the future.

To increase the financial literacy of farmers, eFishery and Lifepal discussed the issue of accounts payable and borrowing for fish farming business needs at the Instagram Live eFishery x Lifepal event last week. 

At the event, Diajeng Reisa Manik, Financing & Risk Manager of eFisheryMall spoke with Aulia Akbar, CFP®, Financial Educator from Lifepal, around smart funding for cultivators in Indonesia, especially about how to take debt with good calculations to ensure positive business development.

Let's review what factors are important for Friends of Cultivators to pay attention to before applying for a productive loan!

1. Debt installments per month a maximum of 35% of total income
2. The maximum amount of debt is 50% of the total asset value
3. Apply for a loan when you already have an emergency fund
4. Protect your family financially before going into debt

Through the eFisheryFund service, eFishery connects farmers directly with financial institutions so that farmers can enjoy the Kabayan service (Kasih Pay Nanti), which is a term financing facility that provides access to financing for Friends of Fish Farmers.

eFishery Kabayan helping Friends of Cultivator obtain fisheries production facilities from eFishery, such as eFisheryFeeder and feed from eFisheryFeed, with a flexible tenor system of up to 6 months. In addition, this financing facility is also equipped with: personal accident insurance and crop failure insurance in the event of a disaster so that cultivators can cultivate safely and quietly.

eFishery has also built eFisheryPoint facilities throughout Indonesia to make it easier for farmers to obtain various information about aquaculture technology and also participate in other educational activities, one of which is a seminar on increasing financial literacy. Watch the replay of the eFishery x Lifepal discussion in a click here! Don't hesitate to contact us & ask questions eFishery Kabayan, yes!