SINAUO: Penyedia Pinjaman Dana Pendidikan Nonformal Berbasis Teknologi Informasi

Skills and competencies are some of the most crucial aspect to drive the country’s economic growth. McKinsey & Co predicted that by 2030, the digital economy will generate an estimated number of 9% new job opportunities that have never been there before. According to that information, Indonesia would need 113 million skilled work force by then. At the current rate, Indonesia would need approximately 3.8 million new skilled workforce every year for the next 15 years. There are a few options so that both employees and non-employees could be recognized as skilled workforce; they could take trainings, courses, or certifications from certain institutions. The problem is, not all employees are able to afford an average cost of IDR 18 million when the average earnings of regular employees is only IDR 7.8 million, let alone those who have yet gotten themselves some earnings. Moreover, most of these trainings or certifications require consumers to pay up front. When trainings are not given by companies, the only way to afford trainings is by borrowing money. People can borrow money from various sources such as friends, families or banks. Vast advancements in technology made it possible for consumers to obtain education loan or personal loan. With the help of financial technology, particularly peer to peer lending, consumers can obtain loans with a simpler procedure than using the services provided by banks through online platforms available via website and mobile applications. Financial technology also made it possible for unbankable consumers to get loan. So far, even with the help of financial technology companies, Indonesia still needs approximately 1.2 million skilled workers. Therefore, the market potential of this business is huge. Sinauo is a peer to peer lending company focusing on nonformal education by providing borrowers with an access to short term education loan and an instrument of investment for lenders through online platforms provided via website. With an estimated number of 50,000 lenders, Sinauo will be able to provide up to approximately IDR 248 billion worth of funding, where our potential is still bigger than that. Thus, this business helps filling the gap between the supply and demand on current condition while also helping Indonesia acquire the skilled workforce needed for years to come.