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NRBC Bank to provide loans to SMEs at 6pc

Published : Thursday, 20 June, 2024 at 12:00 AM  Count : 168

NRBC Bank to provide loans to SMEs at 6pc

NRBC Bank to provide loans to SMEs at 6pc

NRBC Bank will provide loans to small and medium-sized enterprises (SMEs) at an interest rate of just 6 per cent.
Entrepreneurs can avail loans ranging from Tk. 1 lakh to 25 Lakh under easy terms. However, for purchasing capital machinery for industry, loans up to a maximum of Tk 50 Lakh can be taken.

These loans will be distributed from the Revolving Fund of the SME Foundation under stimulus package announced by Prime Minister Sheikh Hasina to overcome the damages caused by corona virus pandemic.

To facilitate this, NRBC Bank signed an agreement with the SME Foundation at a hotel in the capital recently, says a press release.

Managing Director (Current Charge) of NRBC Bank, Md. Rabiul Islam, and the Chairperson of the SME Foundation, Prof. Dr. Md. Masudur Rahman, signed the agreement on behalf of their respective organizations. The event was attended by Senior Secretary of the Ministry of Industries, Zakia Sultana; Secretary of the Financial Institutions Division Md. Abdur Rahman Khan, FCMA; Managing Director (additional charge) of SME Foundation, Salahuddin Mahmud; and Head of CRMD-2 (SME) of NRBC Bank, Muhammad Hajjaj- Bin- Mahfooz, among others.

NRBC Bank will provide loans in various sectors and sub-sectors of the SME industry, including value chains, information technology sectors, and production of exportable and import-substitute products.

Priority will be given to new entrepreneurs, women entrepreneurs, the third gender, residents of backward regions, and trained youths from various associations and institutions.

The loan tenure will be a maximum of four years, and up to Tk.10 Lac will be distributed without any collateral. This loan will be distributed through all branches and sub-branches of NRBC Bank.

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