| Summary: | Kredit Usaha Mikro dan Kecil (KUMK) is productive credit channeled by
financial institution to micro and small enterprises. KUMK is the implementation
of government programs. The mechanism of the program is that the government
provides the funds as a loan to a designated financial institution and afterward the
financial institution will use the fund to provide loans for micro and small
enterprises. In practice, the KUMK distribution not optimized. It is show with on
average only 59% of financial institutions capable of delivering KUMK
appropriate targeted by the government, while the remaining 41% cannot afford.
In order to encourage increased distribution of KUMK, the government should
have knowledge of the factors that may affect the KUMK distribution, in specially
factors controlled by government. Therefore, in this study will be tested factor
from government policy. These factors are interest rate, the penalty of KUMK
distribution, credit capacity and non-performing loan of KUMK.
The analysis model of the significance test used in this research is the
ordinary least square. Based on purposive sampling method, the data used in this
research is the data sample of 23 financial institutions from the total 32 financial
institutions designated by the government for disbursing the KUMK funds. Period
of observation is February 2005 until December 2010.
This research concludes that simultaneous the interest rates of KUMK, the
distribution of penalty, the allocation of program funds and the non-performing
loan ratio of KUMK effect significantly the amount of the disbursed KUMK, but
partially only SBI the interest rates of KUMK that has significant influence,
whereas other variables show no significant results. Government can use the
interest rates of KUMK as the instrument to affect the distribution of KUMK
effectively. In order to effectiveness the penalty of KUMK distribution, the
government can evaluate the tariff in determining the amount of penalty and,
implementation of the reduction of program funds to financial institutions which
provided penalty for two consecutive quarters. The use of monthly adjusted data
of quarterly data for the variable distribution penalty variable is a limitation in this
study
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