PT.Jaminan Kredit

What PT.Jaminan Kredit does

PT Jaminan Kredit Indonesia (Persero), operating under the brand Jamkrindo, is the largest credit guarantee company in Indonesia and a state-owned enterprise (BUMN) within the Indonesia Financial Group (IFG) holding structure under PT Bahana Pembinaan Usaha Indonesia (BPUI). Founded in 1970 as Lembaga Jaminan Kredit Koperasi (LJKK) and transformed into a limited liability company (Persero) in February 2020, the company provides credit guarantees to micro, small, and medium enterprises (UMKM) and cooperatives that lack sufficient collateral to access formal banking financing. Its guarantee portfolio reached Rp229.07 trillion in 2025, supporting 5.4 million MSMEs, with Rp139.6 trillion in guarantees as of June 2026 covering 2+ million business actors and contributing to approximately 5.9 million job placements.

The company organizes its offerings into program guarantees (Kredit Usaha Rakyat / KUR and the National Economic Recovery / PEN program) and non-program guarantees spanning productive financing (ATMR, Mikro, ARRUM), counter bank guarantees and suretyship (Custom Bond, Surety Bond, KBG), and consumptive loan guarantees (KPR, KTA, Multiguna). Digital service delivery is anchored by J-Fusion, a B2B host-to-host integration platform enabling real-time covering, claims, and subrogation processing with partner financial institutions on a 24/7 basis. The company also operates the umkmlayak.co.id UMKM rating service for creditworthiness assessment.

Revenue is generated through transaction-based guarantee premiums on credit guarantees, regulated fees on government program guarantees (KUR, PEN), and fees on surety bonds and custom bonds for construction and procurement contracts. Distribution is executed through a nationwide network of 9 regional offices (Kanwil) with subordinate branches, complemented by digital integration with major Indonesian banks including Bank Mandiri, BRI, BNI, BTPN, Maybank Indonesia, Sinarmas, and OCBC NISP, as well as direct enterprise sales for surety bond products. The company holds a wholly-owned Sharia subsidiary, PT Penjaminan Jamkrindo Syariah (Jamsyar), and operates under the corporate governance standards reflected in its 92.83 ASEAN CG Scorecard rating and SNI ISO 37001:2016 anti-bribery certification.

Name

PT.Jaminan Kredit

Legal name

PT Jaminan Kredit Indonesia (Persero)

Website

https://jamkrindo.co.id

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Jaminan Kredit Indonesia (Jamkrindo) is Indonesia's largest state-owned credit guarantee company, providing guarantee products to micro, small, and medium enterprises and cooperatives to enable access to formal banking financing across KUR, PEN, productive financing, surety bonds, and consumptive loan categories.

Ownership category

akta.pro rank

Product category

Credit Guarantee Services

NAICS

Sales Financing (52222)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SME Lending Platforms & Embedded SME Credit (FSAKAGAJ)

akta.pro secondary industry

SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI)

Keywords

• Credit guarantee services
• MSME financing guarantees
• Surety bond issuance
• KUR guarantee program
• Bank guarantee products

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Credit Guarantee Fees: Jamkrindo generates revenue through guarantee premiums charged on credit guarantees provided to MSMEs and cooperatives. Fees are based on the coverage amount and risk profile of the guaranteed loans.
2. Government Program Guarantee Fees (KUR): Revenue from guaranteeing government-supported credit programs including Kredit Usaha Rakyat (KUR) and National Economic Recovery Program (PEN). These program guarantees are conducted under government mandate and regulations.
3. Surety Bond and Custom Bond Fees: Revenue from issuing surety bonds and custom bonds for construction projects, procurement contracts, and government requirements. Fees are charged based on bond value and contract duration.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

PT Jaminan Kredit Indonesia (Jamkrindo) is Indonesia's largest state-owned credit guarantee company, providing credit guarantee products for micro, small, and medium enterprises (MSMEs) and cooperatives. It offers program guarantees (KUR, PEN), productive financing guarantees, surety and custom bonds, and consumer loan guarantees, distributed through partner banks and a digital B2B platform.

Product overview

PT Jaminan Kredit Indonesia (Jamkrindo) operates as a state-owned credit guarantee company and the largest guarantor in Indonesia, offering a comprehensive portfolio of guarantee products organized into program guarantees and non-program guarantees. The core program guarantees include Kredit Usaha Rakyat (KUR) and the National Economic Recovery Program (PEN), while non-program guarantees encompass productive financing solutions (ATMR, ARRUM, Mikro, Business Banking), KBG and Suretyship products (Custom Bond, Surety Bond, Payment Bond), and consumptive loan guarantees (KPR, KTA, FLPP, Multiguna). Digital service delivery is handled through J-FUSION, a B2B host-to-host and web application platform enabling real-time partner transactions, and additional services such as UMKM credit rating.

Differentiator

Problem solved

Functional benefit

Products and services

• Kredit Usaha Rakyat (KUR) Government-backed credit guarantee program providing working capital and investment loan guarantees to productive and feasible micro, small, and medium enterprises (UMKMK) that are not yet bankable, with credit limits up to Rp 500,000,000.
• Program Pemulihan Ekonomi Nasional (PEN) Government guarantee program implemented through credit guarantee mechanisms to support national economic recovery following the COVID-19 pandemic and address threats to national economic and financial stability.
• Productive Non-Program Guarantees (ATMR, Mikro, ARRUM, Konstruksi, etc.) Non-program guarantee offerings for productive financing including ATMR, ATMR Capped Risk, Keagenan Kargo, KKPE, Konstruksi, Konstruksi Co-Guarantee, ARRUM, Mikro, Mikro BAV, Mikro Co-Guarantee, Mekaar Plus, Distribusi Barang, Pembiayaan Invoice, Subsidi Resi Gudang, Super Mikro, Atas Kekurangan Agunan, Business Banking, Penjaminan BPR, and Umum.
• KBG and Suretyship Guarantees (Custom Bond, Surety Bond, KBG, Payment Bond) Bank guarantee and surety bond products including Custom Bond for customs and excise obligations, KBG (Kontra Bank Garansi), KBG Co-Guarantee, Payment Bond, Surety Bond, and Surety Bond Co-Guarantee for construction and procurement contracts.
• Consumer Loan Guarantees (KPR, KTA, Multiguna, FLPP, OTO) Consumptive loan guarantee products including FLPP (subsidized housing), OTO (consumer loan), KPR (housing loan), Multiguna (multi-purpose), Multiguna KKLK, KSM Mandiri, KTA (unsecured personal loan), Briguna BRI, KPR MNC, Amanah Mikro, and Mikro Multiguna.
• J-FUSION Digital B2B Platform Digital B2B connection platform enabling real-time host-to-host and web application integration for partners to perform covering, claims, and subrogation transactions with 24/7 availability.
• Pemeringkatan UMKM (MSME Rating Service) MSME creditworthiness assessment and rating service provided through umkmlayak.co.id for evaluating micro, small, and medium enterprise credit profiles.

Quantifiable outcome

• Rp229.07 trillion in guarantee volume, supporting 5.4 million MSMEs across Indonesia
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered minor, core and major.

• Pemkab Ogan Ilir (Ogan Ilir Regency Government)minorGTM or Marketing Partner · 12 May 2026Memorandum of understanding signed for surety bond services. The regency government will utilize Jamkrindo's surety bond services for government projects and procurement.
• Pemkab Klungkung (Klungkung Regency Government)minorGTM or Marketing Partner · 5 May 2026MoU signed for surety bond services with Klungkung Regency Government in Bali for construction and infrastructure projects.
• PT Jasindo (Jasa Raharja)minorStrategic or Co-development Partner · 1 January 2026Go Live Cross-Selling ceremony conducted in 2026 for partnership in cross-selling guarantee products between the two state-owned enterprises.
• PT Penjaminan Jamkrindo Syariah (Jamsyar)coreStrategic or Co-development PartnerSharia-compliant guarantee subsidiary of PT Jamkrindo providing Islamic finance guarantee products. The subsidiary has its own Sharia Supervisory Board and operates under integrated governance framework with the parent company.
• Bank MandiricoreChannel Partner/ Reseller/ DistributorState-owned bank operating as KUR (People's Business Credit) distributor and partner in credit guarantee services. Bank Mandiri channels credit to MSMEs which are guaranteed by Jamkrindo.
• Bank BRI (Bank Rakyat Indonesia)coreChannel Partner/ Reseller/ DistributorMajor KUR distributing bank providing credit to micro and small enterprises with Jamkrindo guarantees. BRI is one of the largest MSME lenders in Indonesia.
• Bank BNI (Bank Negara Indonesia)coreChannel Partner/ Reseller/ DistributorState-owned bank participating as KUR distributor and partner in credit guarantee scheme for MSMEs.
• BTPN (Bank Tabungan Pensiun Nasional)majorChannel Partner/ Reseller/ DistributorBank serving micro and small enterprises as KUR distributor with Jamkrindo guarantee coverage.
• Bank Maybank IndonesiamajorChannel Partner/ Reseller/ DistributorCommercial bank participating in KUR distribution network with Jamkrindo guarantee services.

Scale indicators7 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• International Finance Corporation (IFC): IFC is the World Bank Group's private sector development finance arm, providing loan guarantees, trade finance guarantees, and MSME financing support in emerging markets. As a global institution operating in similar guarantee and MSME finance categories, IFC represents a broader incumbent peer for international development finance benchmarking.
• PT Sarana Multi Infrastruktur (SMI): PT SMI is an Indonesian state-owned infrastructure financing company under the Ministry of Finance, supporting infrastructure projects through direct financing, loan guarantees, and project advisory. While focused on infrastructure rather than MSME credit, SMI operates a similar government-backed financial intermediary model and is part of Indonesia's broader SOE financial ecosystem.
• PT Indonesia Eximbank: PT Indonesia Eximbank is a state-owned special financial institution providing trade financing, guarantees, and insurance for Indonesian exports and imports. As a fellow Indonesian SOE in the financial services sector with government guarantee functions, it provides a useful benchmark for SOE governance and operational models in Indonesia.

Direct peers

• PT Asuransi Kredit Indonesia (Askrindo): PT Askrindo is Indonesia's other major state-owned credit insurance and guarantee company, operating under similar SOE and OJK supervision. It is the most direct competitor in Indonesia's credit guarantee market, offering overlapping KUR guarantee products and surety bonds through partner banks, making it the closest functional peer for benchmarking market share and product positioning.
• Korea Credit Guarantee Fund (KODIT): Korea Credit Guarantee Fund is a quasi-governmental credit guarantee institution providing SME credit guarantees in South Korea, structurally similar to Jamkrindo. As one of the most developed credit guarantee institutions globally, KODIT serves as a comparable international peer for operational scale and product sophistication benchmarking.
• Credit Guarantee and Investment Facility (CGIF): CGIF is an ASEAN-level credit guarantee and investment facility established by ASEAN members and the Asian Development Bank to support bond issuance in ASEAN markets. While broader in geographic scope, CGIF operates a similar credit guarantee model and represents an institutional peer for benchmarking guarantee structuring and risk management practices across the region.
• Japan Credit Guarantee Association (CGA): Japan Credit Guarantee Association is a government-affiliated credit guarantee corporation supporting SME financing across Japan through 52 regional credit guarantee associations. The structure and product portfolio closely parallel Jamkrindo's role in supporting MSME access to bank financing through credit guarantees.
• PT Jamkrida Jakarta (Penjaminan Kredit Daerah Jakarta): PT Jamkrida Jakarta is a regional credit guarantee company serving Jakarta Province, directly competing with Jamkrindo in non-program guarantee products for Jakarta-based MSMEs and cooperatives. The regional Jamkrida network represents Jamkrindo's primary competitive threat in geographic markets outside its core KUR mandate.

Others

• PT Bahana Pembinaan Usaha Indonesia (BPUI) / Indonesia Financial Group: Indonesia Financial Group (IFG), operating through PT BPUI, is the parent holding company of Jamkrindo and other Indonesian SOE insurance/guarantee companies. As the holding entity, IFG provides strategic coordination and is a related party rather than a competitor, but represents a key ecosystem participant in the broader Indonesian financial guarantee landscape.

Emerging players

• Asian Guarantee Investment Fund for Poor (AGIF): AGIF is a guarantee facility established by IFAD to support microfinance institutions serving poor rural populations. While operating at a different scale and target segment, AGIF represents an emerging institutional player in the MSME credit guarantee space with similar development finance objectives.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/pt_jamkrindo

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT.Jaminan Kredit