Prime Bank provides collateral-free loans to Ajkerdeal’s merchants

Prime Bank and Ajkerdeal have joined hands to facilitate micro, small and medium enterprise (MSME) financing to e-commerce merchants without any collateral, said a press release on Wednesday.

As per an alliance formed recently, the merchants of online marketplace Ajkerdeal, will avail easy access to MSME loan from Prime Bank. It will be a big boost for the country's promising e-commerce sector as eligible merchants can now enjoy collateral free loan up to Tk50 lakh and other tailor-made financial solutions.

The merchants can also avail a wide range of deposit products and free internet banking – ALTITUDE - for conducting broad range of e-transactions. They will need two-year business experience and recommendation letter from Ajkerdeal.

The MSME entrepreneurs can apply for loan from the comfort of their office or home as Prime Bank has assigned dedicated relationship manager for exclusive service to the merchants of Ajkerdeal.

Under the arrangement, the merchants will also get working capital (CC, OD and Demand Loan), Term Loans for fixed asset purchase and capital expenditures, international trade solutions, bank guarantee, work order etc.

"The alliance between Prime Bank and Ajkerdeal is aimed at encouraging MSME businesses to conduct business through digital platform. Prime Bank and Ajkerdeal will work together to cater to banking needs of MSME businesses and facilitate their financial upliftment," said Prime Bank Managing Director Rahel Ahmed.