BRAC Bank offers credit to women entrepreneurs
Sunday, 4 May 2008
Mahmuda Shaolin
BRAC Bank Limited, a leading private commercial bank, is going to offer credit facilities to women entrepreneurs nationwide through its 'Woman Entrepreneur's Cell (WEC)' shortly to help expand their business.
The bank will start the small and medium enterprise (SME) service in all its branches to help women entrepreneurs flourish in their businesses.
"This 'women only' small and medium enterprise loan facility will provide the women entrepreneurs an easy access to business loan without the requirement of any collateral, said Abedur Rahman Sikder, vice president and head of marketing and corporate affairs of BRAC Bank Saturday.
Only the women entrepreneurs, who have been running business enterprises for at least two years, will be able to apply for this loan. Under the scheme, there will be a credit facility of up to Tk 0.3 million with an interest rate of 17.8 per cent, which is 1.0 per cent less than Bank's regular 18.8 per cent, he said.
The loan will be repayable in 18 months to 36 months and can be repaid in monthly installments, he added.
BRAC Bank has already provided loans worth Tk 700 million to 2000 women in all kind of ventures, said Mr. Sikder adding that the size of the SME loan amount is between Tk 0.3 million and Tk 1.3 million for all urban women entrepreneurs in vicinity BRAC Bank branches in Dhaka, Chittagong, Narayangonj, Sylhet and Feni.
It has started operating Women Entrepreneur Cell for the development of women since 2006, he said.
The SME business loan is offered for the expansion of small and medium sized trading, manufacturing, service, agriculture, non- farm activities, agro-based industries etc with a valid trade licence and in operation for at least one to five years.
"The collateral free SME Loan facility aims to provide the women entrepreneurs easy access to business loan in all urban areas," Mr. Sikder affirmed.
Under the WEC, BRAC also provides all kinds of advisory and counseling services for women entrepreneurs in the Bank's premises and it also offers training to SME entrepreneurs with the help of Dhaka Chamber of Commerce and Industry (DCCI), he also said.
He expressed the hope that BRAC Bank would open 20 more branches, including 15 in rural areas and five in cities this year. The Bank has now 36 branches all over the country.
BRAC Bank Limited, a leading private commercial bank, is going to offer credit facilities to women entrepreneurs nationwide through its 'Woman Entrepreneur's Cell (WEC)' shortly to help expand their business.
The bank will start the small and medium enterprise (SME) service in all its branches to help women entrepreneurs flourish in their businesses.
"This 'women only' small and medium enterprise loan facility will provide the women entrepreneurs an easy access to business loan without the requirement of any collateral, said Abedur Rahman Sikder, vice president and head of marketing and corporate affairs of BRAC Bank Saturday.
Only the women entrepreneurs, who have been running business enterprises for at least two years, will be able to apply for this loan. Under the scheme, there will be a credit facility of up to Tk 0.3 million with an interest rate of 17.8 per cent, which is 1.0 per cent less than Bank's regular 18.8 per cent, he said.
The loan will be repayable in 18 months to 36 months and can be repaid in monthly installments, he added.
BRAC Bank has already provided loans worth Tk 700 million to 2000 women in all kind of ventures, said Mr. Sikder adding that the size of the SME loan amount is between Tk 0.3 million and Tk 1.3 million for all urban women entrepreneurs in vicinity BRAC Bank branches in Dhaka, Chittagong, Narayangonj, Sylhet and Feni.
It has started operating Women Entrepreneur Cell for the development of women since 2006, he said.
The SME business loan is offered for the expansion of small and medium sized trading, manufacturing, service, agriculture, non- farm activities, agro-based industries etc with a valid trade licence and in operation for at least one to five years.
"The collateral free SME Loan facility aims to provide the women entrepreneurs easy access to business loan in all urban areas," Mr. Sikder affirmed.
Under the WEC, BRAC also provides all kinds of advisory and counseling services for women entrepreneurs in the Bank's premises and it also offers training to SME entrepreneurs with the help of Dhaka Chamber of Commerce and Industry (DCCI), he also said.
He expressed the hope that BRAC Bank would open 20 more branches, including 15 in rural areas and five in cities this year. The Bank has now 36 branches all over the country.