SMEs to get loan of Tk1-30 lakh

Small and Medium Enterprises (SMEs) preferably those run by women will get a loan of minimum Tk1 lakh to a maximum Tk30 lakh at 4 per cent interest rate.

The entrepreneurs will have to repay the loan in a maximum of three years or 30 monthly installments, including 6 months of grace period.

The SME Foundation announced Tk400 crore as the fresh stimulus scheme for entrepreneurs to overcome the Covid-19-induced strain, accelerate economic recovery and improve the quality of life in rural communities.

The foundation signed an agreement with 15 banks and 3 financial institutions at Pan Pacific Sonargaonin in the capital on Wednesday to distribute the loans, said a press release.

The foundation will provide the loan from its own fund and a ‘revolving fund’ comprising loan repayments of Tk300 crore already disbursed by SME Foundation under the government’s stimulus packages advised by the Finance Division, it said.

Women entrepreneurs across the country, fresh enterprises that haven’t received any loan from banks and financial institutions, people with disability, third gender and marginal entrepreneurs as well as prioritized SME sub-sector, cluster and entrepreneurs under value-chain will get preference to lend from this scheme under the policy guideline, it said.

Its General Manager Nazeem Hassan Satter delineates the policy in detail under the ‘revolving fund’ for loan disbursement at the signing ceremony.

Minister of Industries Nurul Majid Mahmud Humayun was present as the Chief Guest at the ceremony.

The bank’s chief was also present at the programme chaired by its Chairperson Md Masudur Rahman.