Peranan Pinjaman Modal yang Diberikan oleh Bank Umum pada Perkembangan Usaha Mikro Kecil dan Menengah di Indonesia Selama Pandemi Covid-19

Abstract

Beginning in 2020 until now, all countries are experiencing the COVID-19 pandemic, which has made the economy enter a crisis phase, and Indonesia is no exception. At the start of the pandemic, the Indonesian economy experienced its lowest phase since the 1998 monetary crisis. All economic sectors experienced an extraordinary impact from the pandemic, including the micro, small, and medium enterprises sector. Seeing that the auxiliary sector during the 1998 financial crisis was declining, the government issued a policy of providing low-interest loan capital for micro, small, and medium enterprises. This policy yielded results with an increase in business actors in the micro, small, and medium sectors. Seeing these developments, this research wants to see how the role of capital loans and loan interest can develop micro, small, and medium enterprises every month from 2020 to July 2022. Using the autoregressive distributed lag (ARDL) method, this study finds that both in the short term and in the long term, providing capital will increase the number of micro small and medium enterprises. Conversely, interest rates actually have a negative effect because of the imposition of returns by business actors.