KSP Rakyat Mandiri savings and loan cooperative was founded by Mr. Eko Suprayitno, its managing director.
The small businesses need money to repair equipment and maintain their stocks-in-trade. They were forced to take expensive loans from ‘Big Boss’ – a local unlicensed moneylender who also used his influence to buy the local fishing catch at very low prices. Commercial credit was not a viable option as the simple hardworking community was unable to meet conventional credit criteria nor understand what was for them a complex loan process.
Rakyat Mandiri grew rapidly to become one of the most successful cooperatives in the District. It now boasts 1 head office in Banyuwoto and 3 branch offices in Puncel, Tayu and Purworejo, with total membership of 3,596 members.
In 9 months of partnership with 5 funding tranches, Rakyat Mandiri track record with Nusa Makmur has been a consistent nil NPL with always on-time repayments , which reflects the commitment of the management and members of this cooperative.
Rakyat Mandiri has been in partnership with Nusa Makmur since 25 October 2016, together funding up to 139 small-scale fishery businesses.