The COVID-19 pandemic has brought an unprecedented challenge for micro, small, and medium enterprises (MSMEs) globally, including in Indonesia. In response to the pandemic, the Government of Indonesia launched a program to provide working capital assistance for micro-entrepreneurs categorized as poor and who are vulnerable to being affected by the COVID-19 pandemic. Many MSMEs in Indonesia are also on the brink of failure during the COVID-19 pandemic as revenue significantly decreased due to a significant drop in demand (Badan Pusat Statistik, 2020).