SME Foundation MD for reducing banker-entrepreneur gap

Managing Director of the SME Foundation Dr Md Mofizur Rahman on Wednesday suggested for reducing the banker-entrepreneurship gap to ensure smooth distribution of loans from the government stimulus packages for the small and medium entrepreneurs to offset the shock of Covid-19.

Mofizur made the remarks while addressing a SME entrepreneur-banker loan matchmaking function held in Rangpur organised by the SME Foundation.

He also opined that the entrepreneurs need to submit necessary documents to the banks for getting loans under the government stimulus packages.

Moderated by deputy managing director of the SME Foundation Sumon Chandra Saha, Bangladesh Bank general manager Mohammad Jamal Uddin and RAKUB general manager Md Babar Ali also spoke, among others, on the occasion.

Md Mofizur underscored the need for creating more awareness among the entrepreneurs and bankers about the concerned policies of the SME Foundation for distributing loans under the stimulus package.

He informed although the rate of female entrepreneurs receiving loans under the Taka 20,000 crore stimulus package for CMSME sector has so far reached six percent, but the rate of female entrepreneurs receiving loans under the stimulus package distributed by the SME Foundation reached more than 30
percent.

In order to distribute Taka 200 crore for the small and medium entrepreneurs in the current fiscal year under the second stimulus package to offset the shock of the Covid-19 pandemic, the SME Foundation has already inked agreements with 19 banks and financial institutions.

An entrepreneur will be able to take maximum Taka 50 lakh and minimum Taka one lakh as loan with an interest rate of four percent. Besides, the entrepreneurs will be able to receive collateral free loans up to Tk25 lakh.