Soft loan making a difference to Jessore businesswomen

Availability of loans at a single-digit interest rate has come as a big relief for the entrepreneurs of Nakshi Kantha (embroidered quilt) industry in Jessore, thus giving a boost to the handicraft sector, thus helping many people to come out of poverty.
A good number of women are becoming economically solvent and establishing themselves as entrepreneurs following their easy accesse to credit support at lower rate.
The Small & Medium Enterprise (SME) Foundation through the Trust Bank Limited is providing the loan to women entrepreneurs at 9.0 per cent rate of interest.
Manager of the Jessre Cantonment Branch of the bank Jakir Hossain told the FE they have already distributed about Tk 20 million loan among 154 women entrepreneurs at only 9 per cent interest.
"We're distributing the loan under the product 'Trust Sukannaya' which is a joint collaboration of Trust Bank and SME foundation specially designed for an individual women entrepreneur or group of women entrepreneurs," he said.
Mr Hossain said they provide loan to an individual woman from Tk 0.1 to 1.0 million and it started from early 2013.
Women entrepreneurs are now very happy as the loan is helping them to be relaxed about the capital for their business. The expansion of the business has happened in recent times and more women are showing their interest to be engaged with business, according to entrepreneurs.
Tanuja Rahman Maya, an iconic female entrepreneur of Jessore, said besides her own returns, she has employed thousands of people, specially women.
"I am trying my best to create more jobs for the widows, helpless women and female students who need help to survive," she said.
Ms Maya, who started her journey by making fatuas and punjabis in 1996 to attain some financial solvency, has built her fortune in the last one and a half decades. She now employed thousands to run operations and the owner of her own brand 'Rong Handicraft'.
Her total capital is now about Tk 30 million and took about Tk 7.7 million loan from Trust Bank.
She has got many prizes including 'Best Woman Entrepreneur of the Year' by SME foundation and National Productivity and Quality Excellence Award by the Ministry of Industries.
Ms Maya said the loan is helping them much in many ways-low interest rate and proper monitoring from both the bank and SME Foundation.
She said Nakshi Kantha has received fame both at home and abroad in recent times. Her products are being exported to Japan, USA, Canada and some Middle Eastern countries.
Another womer entreprenure Binu Ara Begum said she started her business with about Tk 375 in 1999. Now, her capital rose to Tk 3.0 million and took Tk 0.5 million loan from Trust Bank. She has about 18 permanent workers and has about 2,000 outsource workers.
Ms Binu Ara said she sells about Tk 0.5 million products every month and earns about 20 per cent profit from total sale.
Sahana Sultana, owner of Sraban Handicraft & Ambroidary House, said she is involved in the stitching business for about 18 years. However, her business has expanded rapidly in recent years.
She took about Tk 0.3 million from Trust Bank. About 22 workers are earning their bread from her production house.
"The low interest rate helps us to gain more profit than in the past," she said.
Ms Sultana said she produces around 50 Nakshi Kantha and 400 bed sheets every month. Her products go abroad after meeting demands of local buyers.  
Deputy General Manager (DGM) of SME foundation SM Nurul Alam said the foundation is providing loan to entrepreneurs aiming to encourage the SMEs. Like Trust Bank, they are working with some other organisations.  
He said they provided the Trust Bank's Jessore Branch about Tk 20 million so far after assessing the need of the entrepreneurs and are ready to provide more if it is needed.
Mr Alam said Jessore Nakshi Kantha is one of the SME clusters where the SME foundation works to develop the industry.