Transformation of WhatsApp-Based Non-Formal Lending: A Social Capital Perspective in the Sukorejo Village Community

Dia Auliatur Rohmah; Riski Febri Eka Pradani

doi:10.63922/ijebir.v5i05.5744

Dia Auliatur Rohmah Department of Economics, Faculty of Social Sciences and Humanities Nurul Jadid University
Riski Febri Eka Pradani Department of Economics, Faculty of Social Sciences and Humanities Nurul Jadid University

DOI: https://doi.org/10.63922/ijebir.v5i05.5744

Keywords: non-formal lending, WhatsApp, social capital, financial literacy, farmers

Abstract

Limited access to formal financial institutions in rural communities has contributed to the emergence of non-formal lending practices, which have recently undergone a digital transformation through the use of WhatsApp. This study aims to examine the transformation of WhatsApp-based non-formal lending mechanisms and their implications for the sustainability of community businesses in Sukorejo Village. A qualitative descriptive approach was employed, with data collected through observations, in-depth interviews, and documentation. The findings reveal that non-formal lending practices have evolved from conventional face-to-face transactions into digital-based systems that are faster, more flexible, and more efficient. This transformation is primarily driven by the ease of access, rapid loan disbursement, urgent economic needs, and limited financial literacy among community members. In addition, the practice is strongly supported by social capital, particularly trust, social cohesion, and interpersonal networks. Although WhatsApp-based non-formal lending improves short-term access to business capital, it also poses long-term risks, including high interest rates and increasing dependence on debt. These findings suggest that the digital transformation of non-formal lending has not yet significantly enhanced the long-term welfare of the Sukorejo Village community.

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