Shakti Foundation, Delivery Tiger launch ‘e-Loan’ for SMEs

The microfinance institution ‘Shakti Foundation’ and logistics platform ‘Delivery Tiger’ have jointly launched the ‘e-Loan’ product for online startups.

To this end, the two companies signed an agreement in Dhaka on Monday, according to a statement.

Under the ‘e-Loan’ product, the online small and medium enterprises (SMEs) will get loans up to Tk 5 lakh within five to seven working days from the date of applications. The entire loan disbursement and repayment processes will be fully digitized which will allow SMEs quick access to finance.

The service charge of this loan will be relatively low compared to the fees charged by the microfinance institutions, said the statement.

The small entrepreneurs who usually can’t apply for SME loans from banks due to insufficient documents can easily apply for this e-Loan.