Fintech P2P Lending in Increasing People's Purchasing Power in South Sulawesi Province
Keywords:
fintech P2P lending, increasing, South SulawesiAbstract
This qualitative descriptive study will determine the contribution of fintech P2P lending in creating purchasing power for people in South Sulawesi Province. Data was collected from websites integrated with fintech P2P lending and then analyzed using Non-Numerical Unstructured Data Indexing Searching and Theorizing software. The results of the study show that the presence of online loans has a positive contribution to economic growth in South Sulawesi. The average monthly funding distribution for P2P lending reached IDR 19.04 trillion over the last seven months throughout 2023. In July 2023, industry funding was IDR 20.38 trillion, and IDR 7.26 trillion, equivalent to 35.65 percent, was distributed to the productive sector, including MSMEs. The number of outstanding loans from the South Sulawesi community or the amount of online loans has increased from year to year. fintech peer-to-peer lending (fintech P2PL) in South Sulawesi Province recorded positive performance. This can be seen from the increase in outstanding loans which grew by 30.17 percent. The outstanding loan amount of the South Sulawesi community as of February 2024 reached IDR 1.29 trillion from 355,948 loans. Meanwhile, in February 2023, the outstanding loan amount of the South Sulawesi community was IDR 988 billion from 405,694 loans.
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