Bisnis.com, JAKARTA - Players in the financing industry (multi/leasing) in April 2020 or at the beginning of the Covid-19 pandemic still touched 183 companies. A year later, 171 companies remained, now shrinking to 167 surviving companies. The Financial Services Authority (OJK) had revealed that basically some of these financing industry players had difficulties before the pandemic hit. Especially, for those who have not been able to meet the minimum capital requirement below Rp100 billion. The rest are those who have difficulty finding suitable business partners, have decreased loan quality, neglected governance factors, or plan to discontinue their business long before Covid-19 enters the country, or do not meet a minimum equity to paid-up capital ratio of 50 percent. Head of the OJK IKNB 1A Supervision Department, Dewi Astuti, explained that most finance companies (PP) that are not strong enough to comply with the provisions usually prefer to resign and change their business. "The process of fulfilling the capital of the financing industry players continues, and now some have their licenses revoked, some are returning their permits. The main considerations are usually to resign, no longer as a PP, change business strategy or line of business, so as not to be subject to sanctions," he said. , Wednesday (4/8/2021). OJK continues to appeal to PPs who are still having difficulty complying with the provisions, especially those who are independent and not subsidiaries of large corporations, to immediately prepare steps. Starting from looking for strategic partners in the target segment, corporate actions such as mergers, or starting to look for new investors. Based on the official OJK website since the beginning of the year until this news was written, at least there have been multi-finance companies that have stopped due to their license being revoked, namely PT Dian Mandiri Multifinance, PT Daya Sembada Finance, PT Panen Arta Indonesia Multifinance, PT Intensif Multifinance, PT Sadira Finance, and PT Wannamas. Multifinance. The companies that returned the multi-finance license to switch to other businesses, namely PT Mirasurya Multi Finance, PT Bringin Srikandi Finance, PT Swadharma Nusantara Financing, and PT Bringin Indotama Sejahtera Finance. Relief Not only from independent multi-finance companies, the Astra Credit Companies (ACC) group of finance companies also changed the business line of one of its multi-finance companies, namely PT Staco Estika Sedaya Finance (SESF) to PT Cipta Sedaya Digital Indonesia (CSDI), which will then operate in services and information technology development. Meanwhile, companies that are still OJK frozen because they do not meet certain regulatory standards or business health, include PT Bhumindo Sentosa Abadi Finance, PT Otomas Multifinance, and PT Trevi Pelita Multifinance. Most recently, PT Intan Baruprana Finance Tbk. (IBFN) obtained a third warning letter or SP3 from the OJK as the minimum value of the equity to paid-in capital ratio of at least 50 percent has not been fulfilled, on July 28, 2021.