EBL introduces new SME loan products
Monday, 26 April 2010
Eastern Bank Ltd (EBL) has introduced two new SME loan products termed as 'EBL Uddom' and 'EBL Invoice Factoring' to help the expansion of the small and medium enterprises (SME) of the country.
The new products were formally launched by EBL Managing Director and CEO Ali Reza Iftekhar at a press conference at a city hotel Sunday, said a press release.
Addressing newsmen, Ali Reza Iftekhar said, "EBL has always been playing a pioneering role in development of SME sector in the country."
Under the 'EBL Uddom', SME businessmen can avail term loans up to Tk 5.0 million against term deposits. Moreover, overdraft facilities are also allowed in the new product.
On the other hand, SME clients will be provided loans against their bills under the 'EBL Invoice Factoring'. The SME businessmen often suffer from working capital crisis due to delay in obtaining payments against their bills, after supplying products or services. This new product will enable them to get cash support to keep their business running smoothly. Highest limit of the loan will be Tk 50 million.
The new products were formally launched by EBL Managing Director and CEO Ali Reza Iftekhar at a press conference at a city hotel Sunday, said a press release.
Addressing newsmen, Ali Reza Iftekhar said, "EBL has always been playing a pioneering role in development of SME sector in the country."
Under the 'EBL Uddom', SME businessmen can avail term loans up to Tk 5.0 million against term deposits. Moreover, overdraft facilities are also allowed in the new product.
On the other hand, SME clients will be provided loans against their bills under the 'EBL Invoice Factoring'. The SME businessmen often suffer from working capital crisis due to delay in obtaining payments against their bills, after supplying products or services. This new product will enable them to get cash support to keep their business running smoothly. Highest limit of the loan will be Tk 50 million.