Proceedings of the Second International Conference on Public Policy, Social Computing and Development (ICOPOSDEV 2021)

Peer to Peer Lending Policy Patterns for MSMEs During the Covid-19 Pandemic

Authors
Debora1, deboratambun1983@gmail.com, Ningrum Sirait2, Tan Kamello3, Mahmul Siregar4
1Phd Student in Law Universitas Sumatera Utara, Indonesia
2Supervisor, Universitas Sumatera Utara, Indonesia, Indonesia
3Supervisor, Universitas Sumatera Utara, Indonesia, Indonesia
4Supervisor, Universitas Sumatera Utara, Indonesia, Indonesia
Corresponding Author
Available Online 15 February 2022.
DOI
10.2991/assehr.k.220204.009How to use a DOI?
Keywords
Covid-19 Pandemic; Fintech Peer to Peer Lending; MSMEs; Restructuring
Abstract

When human movement is restristiced due to the covid-19 pandemic, many businesses are thinking about how to survive and recover. This condition is an opportunity for the digital finance industry, including fintech, which offers a simpler method method, especially in the loan process. Digital financing such as fintech peer to peer lending (P2PL) has turned into online moneylenders, due to the absence of legal protection for debtors, especially MSMEs in the current difficult times. P2PL requires government support such as that obtained by banks, for example credit relaxation. This research applied with juridicial normative methodology. It uses secondary data which consists primary legal material, specifically the OJK regulations on Covid-19 prevention and related literature, analyzed descriptively analytically. The research indicates that OJK issued POJK Number 58/POJK.05/2020 This policy was issued as an effort to optimize the performance of non-bank financial services institutions, maintain financial system stability and support economic growth during the Covid-19 pandemic. Additional subjects for microfinance institutions and information technology-based lending and borrowing service providers (fintech lending). Second, the type of restructuring added in the POJK. Third, the validity period of the POJK is until April 17, 2022. In response to the POJK, fintech companies review loans and provide relief from not making payments up to a maximum of 3 months, as well as reducing the number of installments or extending the installment period for a maximum of 24 months for the industry. affected by COVID-19.

Copyright
© 2022 The Authors. Published by Atlantis Press SARL.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the Second International Conference on Public Policy, Social Computing and Development (ICOPOSDEV 2021)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
15 February 2022
ISBN
978-94-6239-536-7
ISSN
2352-5398
DOI
10.2991/assehr.k.220204.009How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press SARL.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Debora
AU  - Ningrum Sirait
AU  - Tan Kamello
AU  - Mahmul Siregar
PY  - 2022
DA  - 2022/02/15
TI  - Peer to Peer Lending Policy Patterns for MSMEs During the Covid-19 Pandemic
BT  - Proceedings of the Second International Conference on Public Policy, Social Computing and Development (ICOPOSDEV 2021)
PB  - Atlantis Press
SP  - 51
EP  - 56
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220204.009
DO  - 10.2991/assehr.k.220204.009
ID  - 2022
ER  -