Enabling Women-Led Businesses Across Rural Indonesia: Abler Nordic invests in Esta Dana Ventura
Abler Nordic has provided a USD 5 million senior loan to Esta Dana Ventura (EDV), a non-deposit taking financial institution in Indonesia
Founded in 2015, EDV focuses on empowering small-scale entrepreneurs in rural areas, with a client base of 90% women.
This investment from Abler Nordic’s Fund IV will support EDV’s efforts to expand access to financial services in one of the world’s most geographically dispersed countries and contribute to the equitable distribution of Indonesia's economic growth.
Despite the recent progress in Indonesia’s financial inclusion, with account ownership rising from 20 percent in 2011 to 52 percent in 2021, nearly half the population remains unbanked (Global Findex 2021). This gap is even more pronounced in rural areas, where small-scale entrepreneurs, especially women, struggle to access affordable working capital for their micro and small businesses. The country’s vast geography, made up of over 17,000 islands, adds to the difficulty of delivering financial services to these communities.
EDV is addressing these challenges by including regions underserved by traditional financial services. With a network of 218 branches across five regions, EDV has expanded its reach to over 300,000 customers, 90% of whom are women, and 90% whom live in rural areas. EDV offers two types of loans: traditional microfinance group loans, which provide collateral-free working capital to women-owned businesses, and MSME loans for both women and men. Typical small businesses EDV customers run include food stalls, small kiosks, and small-scale services or production.
In addition to its financial products, EDV runs a program that trains women to make and sell bags, providing them with a source of income while managing their household responsibilities.
Over the past five years, EDV’s gross loan portfolio has quadrupled, from USD 20 million to nearly USD 80 million, despite the challenges posed by the COVID-19 pandemic. The company has also doubled its number of branches from 100 in 2018 to over 200 in 2022, furthering its outreach and minimizing risk by dedicating branches to specific loan types. EDV’s commitment to women is also evident in its workforce, where 66% of its 2.500 employees are women.
Abler Nordic’s investment will enable EDV to further expand its MSME portfolio and introduce new products, such as sanitation-related loans. Beyond financial backing, Abler Nordic will also support EDV in strengthening its digitalization strategies, and ESG and social performance strategies, including obtaining a Social Rating.
“EDV has built a strong foundation in providing loans to women entrepreneurs in Indonesia, and their growth, even during challenging times, highlights the need for financial services for these underserved communities. We’re proud to support EDV in expanding their reach and empowering more women with the capital they need to grow their businesses and improve their livelihoods.” LONE SØNDERGAARD, Investment Director, Abler Nordic
“With the support of Abler Nordic, we are poised to expand our operations and strengthen the financial services we provide to women entrepreneurs throughout Indonesia. Together, we aim to achieve meaningful progress in advancing financial inclusion and empowering women to realize their business ambitions.” RONY HARIANTO, CEO, Esta Dana Ventura
This partnership reflects Abler Nordic’s broader commitment to investing in sustainable financial institutions that enable low-income households to create a better future.
