KONTAN.CO.ID - JAKARTA. PT Buana Finance received a term installment loan facility from PT Bank Danamon Indonesia in the amount of IDR 500 billion with a 48-month tenor and an overdraft credit facility of IDR 15 billion with a maximum tenor of 12 months.

"We hereby inform you that on May 31, 2023 Buana Finance has signed a credit facility agreement with Bank Danamon," said Corporate Secretary Buana Finance Ahmad Khaetami as quoted from the IDX's information disclosure, Monday (5/6).

Ahmad Khaetami said that the loan facility will be used for the company's working capital needs, namely the provision of consumer finance loans and financial leases. The term loan facility is secured by the company's receivables.

Ahmad emphasized that the loan had a positive impact on the company's operational activities, financial condition or business continuity.

Previously, Buana Finance also received a credit facility from PT Bank DKI of IDR 125 billion with a tenor of 36 months.

Ahmad said the loan facility will be used for the company's working capital needs, namely the provision of consumer finance loans.