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SMALL & MEDIUM ENTERPRISES (SME)

Overview:

SME was launched for overall financial growth and proverty redemption to give facilities among small and medium entrepreneur to develop.
According to SME development policy -2016 of Ministry of Industry, the following sectors are selected for targeted development:

1. Software Development.
2. Agro-processing/Agri-business/plantation agriculture/tissue culture.
3. Leather Goods.
4. Health services and Diagnostics.
5. Readymade garments industry.
6. Light engineering industry.
7. Jute and jute proccessing industry.
8. Others various kind of industry are also included.


Term:

1. Short term loan (up to 12 months).
2. Medium term loan of 5 years duration including six months grace period. Total amount with interest to be refunded in seven installments.
3. Loans are renewable given satisfactory dealing.


Interest Rate:

9%


Loan Process Fee:

0.5% but not more than 2,00,000/-



Deed Process Fee:

0.5% but not more than 1,00,000/-


Security Type:

For SME credit above TK. 50,000 collateral security should be taken covering the loan amount.


Loan Limit:

1. Cottage Industry: productive- 15 Lac
2. Micro Indrustry: productive- 1 Crore, Service- 25 Lac, Business- 50 Lac
3. Small Industry: productive- 20 Crore, Service- 5 Crore, Business- 5 Crore
4. Medium Industry: productive- 75 Crore, Service- 50 Crore
Cash Credit: Maximum 100% of current capital or 75% of total inventory and receivables.


Eligibility:

1. Entrepreneurs must be Bangladesh citizen.
2.Age must be above 18 years.
3. The entrepreneur should have related professional experience, good managerial ability, adequate capital, financial solvency, good repayment behavior, technical & marketing related knowledge, training.
4. The entrepreneur should have capability of utilization and repayment of loan.
5. Must have acceptable CIB report from Bangladesh Bank.
6. Defaulters of any bank or financial institution are not considered under this lending program.


Documentation:


Details Information:

Contact nearest branch.


N.B. : Rate of interest is variable time to time by the Bank Interest Rate Principles.