USAID & Nikel Academy Boost Women-Owned SMEs in Indonesia

The United States, through USAID and Nikel Academy, has created a ground-breaking program to support women-owned small and medium-sized companies (SMEs) in Indonesia. The Financial Inclusion of Women-Led Small and Medium Enterprises (FINCLUSION for W-SMEs) initiative is a $1.2 million project with an ambitious objective of raising $50 million in financing for women-owned SMEs.

Despite women accounting for over half of all Indonesian SME owners, obtaining financial backing for their enterprises remains a significant barrier. Many banks lack focused initiatives for the SME sector, aggravating the challenges encountered by women-led businesses. FINCLUSION aims to solve these difficulties by assisting women-led SMEs in accessing critical information on financial products, networking opportunities, business training, and digital resources.

Erin Nicholson, USAID Indonesia's Acting Mission Director, underscored the organization's commitment to promoting gender equality and women's economic development. The project will not only boost women-owned enterprises, but will also assist local partner banks in providing digital loan origination services.

Nikel Academy, founded by PT Impact Credit Solutions, will play an important role in this collaboration. The partnership includes the creation of public and commercial platforms for financial and digital training, with a focus on chosen female SME owners recommended by their banks for further training and loan offers.

Reinier Musters, President and Director of PT Impact loans Solutions, expressed confidence about allowing women-led SMEs to obtain loans and looks forward to working with local partners to realize this potential. The alliance intends to promote inclusive economic growth and invest in women's economic empowerment, taking a critical step toward creating a more equal and successful business environment in Indonesia.