DBBL to offer collateral-free loan to SMEs
Sunday, 11 May 2008
Mahmuda Shaolin
Dutch-Bangla Bank Limited (DBBL), a growing private commercial bank, is going to offer Small and Medium Entrepreneurs (SMEs) collateral-free loan by the end of this month to help them expand their businesses.
The bank will start SME services in all its branches to provide loan to the entrepreneurs.
"The facility will provide the SME entrepreneurs an easy access to business loan without any collateral," said Md. Kamruzzaman, vice president and head of Retail and SME Division of DBBL Sunday.
"The bank will launch 'DBBL Smart Cash Credit (DBBLSCC)' scheme' and 'DBBL Smart Term Loan' (DBBLSTL) scheme," he said.
Under the DBBLSCC scheme, there will be a credit facility up to a minimum of Tk 0.1 million and maximum Tk 5.0 million with an interest rate (floating) of 14 to 17 per cent. Any SME entrepreneur, who has been running businesses for at least two years will be eligible to apply for the loan.
Under the DBBLSTL scheme, there will be a loan facility of up to Tk 0.1 million to Tk 5.0 million with an interest rate (floating) of 14 to 17 per cent. Any SME entrepreneur having experience in business for at least two years will qualify for the loan. The loan will be repayable in six months to 60 months and can be repaid in monthly or quarterly installments, he informed.
The SME loans are offered to diversify small and medium ventures such as in trading, manufacturing, service, agriculture, non- farm activities, agro-based industries etc with a valid trade licence, other legal papers and in operation for at least two years.
"The collateral-free SME Loan facility aims to provide the SME entrepreneurs easy access to business loan in rural and urban areas," Mr. Kamruzzaman said.
He expressed the hope that DBBL would open 15 more branches and 400 ATM booths in the country this year. The Bank has now 49 branches and 25 ATM booths all over the country.
Dutch-Bangla Bank Limited (DBBL), a growing private commercial bank, is going to offer Small and Medium Entrepreneurs (SMEs) collateral-free loan by the end of this month to help them expand their businesses.
The bank will start SME services in all its branches to provide loan to the entrepreneurs.
"The facility will provide the SME entrepreneurs an easy access to business loan without any collateral," said Md. Kamruzzaman, vice president and head of Retail and SME Division of DBBL Sunday.
"The bank will launch 'DBBL Smart Cash Credit (DBBLSCC)' scheme' and 'DBBL Smart Term Loan' (DBBLSTL) scheme," he said.
Under the DBBLSCC scheme, there will be a credit facility up to a minimum of Tk 0.1 million and maximum Tk 5.0 million with an interest rate (floating) of 14 to 17 per cent. Any SME entrepreneur, who has been running businesses for at least two years will be eligible to apply for the loan.
Under the DBBLSTL scheme, there will be a loan facility of up to Tk 0.1 million to Tk 5.0 million with an interest rate (floating) of 14 to 17 per cent. Any SME entrepreneur having experience in business for at least two years will qualify for the loan. The loan will be repayable in six months to 60 months and can be repaid in monthly or quarterly installments, he informed.
The SME loans are offered to diversify small and medium ventures such as in trading, manufacturing, service, agriculture, non- farm activities, agro-based industries etc with a valid trade licence, other legal papers and in operation for at least two years.
"The collateral-free SME Loan facility aims to provide the SME entrepreneurs easy access to business loan in rural and urban areas," Mr. Kamruzzaman said.
He expressed the hope that DBBL would open 15 more branches and 400 ATM booths in the country this year. The Bank has now 49 branches and 25 ATM booths all over the country.