Grovvit (Lending platform to free micro enterprise from loan sharks)
Explain your project in details:
The large number of SMEs in Indonesia, which reached 55.5 million, became an easy target for loan sharks to lend money to them. With a large interest rate but does not require the collateral made SMEs lured to borrow to the loan sharks. With this system, there are many villagers in Indonesia who have debt to the moneylenders from generation to generation. Grovvit offers a special Peer to Peer Lending system to help SMEs grow their business by connecting them with investors. We use a group lending system where in one group we will provide training to grow their business and invite them to help each other in the same lending group. In addition, the lending system that we use also uses a clear contract according to the Islamic Shari'a to support the investment needs of the largest market in Indonesia which 85% of the population is Muslim.
Impact of your enterprise on sustainable development
Grovvit provides assistance to SME in Indonesia, especially to micro SME that have number 55 million people in Indonesia. Grovvit provides assistance to funding from individual Investors through peer to peer lending system and provide guidance to SME to make their business better. Indicators success of our goals are: -Number of investments channeled in our peer to peer lending system -The number of SME assisted in lending -Number of SME built into our group lending system and can growth their business
Sustainability and future plans
Grovvit is a peer to peer lending syariah that focuses on helping micro SMEs in Indonesia out of bondage to moneylenders. We provide assistance through a funding and lending group system to SMEs so that their business becomes better and feasible to be invested by Investors. Just like other peer to peer lending systems, we will take the money through a profit cut from the return on investment that has been successful. Since we are using the sharia system, we as a service provider will also participate in discussions with lenders and borrowers about our benchmark of service prices. We will only accept services if the investment is successful and gain profit, if the investment loss then we will not get management fee. In addition, we will also charge fees in the registration of group lending. This fee as a membership fee to the registered SMEs and will be actively guided by us. In this case, if you really need help in marketing and selling goods from SMEs, we will also help but only as a dealer. But being a distributor is not the core of our business at the moment, but we can focus on it when our business starts to grow. To reach micro SMEs, we do have to educate many things on this peer to peer lending technology issue. But with a group lending system, we will look for volunteers who can foster and help SMEs input their data online, to be visible to transparent in business management to lending investors. On the other hand, our investors will be educated through peer to peer lending, especially the security issues we offer. From the results of research, the population of Indonesia is less than 1% already invested through peer to peer lending. Through Grovvit, we will further educate about this and offer
Your profile as an entrepreneur
Hafiz was born in Padang, 25 February 1996. He is active in social activities, art, and entrepreneurship. Born from merchant family, Hafiz had been raised with entrepreneurial thinking from an early age. His parents have taught how the value of something can be enhanced by a diligent and enterprising effort. Hafiz is currently studying at Bandung Institute of Technology, majoring in Mechanical Engineering. In addition to academic activities, Hafiz is also active in student-centered and active in units of entrepreneurial activities in the campus of ITB. Currently Hafiz is mandate to establish an entrepreneurship activity with an institution in ITB. Hafiz himself actively participate in activities that have things of art, social, and leadership. While still in high school Hafiz once represented West Sumatra in FLS2N competition National level poetry branch. Hafiz has also been an Indonesian delegation to exchange students to Japan in the Jenesys program. In addition, Hafiz was also selected as one of the youth selected in the training of Young Economic Leadership Program held by Bank Indonesia. Recently, Hafiz was crowned as the ambassador of Community Empowerment in Raising Inclusivity and Trust of Bandung held by Habibie Center.