SME Foundation to lend Tk450cr to small, medium ventures
Of the total loan amount, 30% will be distributed among women entrepreneurs and 10% among SME cluster entrepreneurs
Small and Medium Enterprises (SME) Foundation will disburse an additional Tk450 crore in loans among small and medium enterprises under the government-announced stimulus package and its own fund.
The entrepreneurs will be able to get a minimum of Tk1 lakh to a maximum of Tk50 lakh at 6% interest and repay in 48 monthly installments in four years.
The foundation signed an agreement with 23 banks and financial institutions for loan disbursements at a city hotel on Tuesday (11 June).
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At the signing ceremony, SME Foundation Managing Director (additional duties) Salahuddin Mahmood explained the details of the loan disbursement policy for the incentive package 'Revolving Fund' implemented by the foundation.
The foundation said it will encourage the banks and financial institutions to disburse this collateral-free loan.
Of the total loan amount, 30% will be distributed among women entrepreneurs and 10% among SME cluster entrepreneurs.
Earlier, the foundation distributed Tk300 crore to 3,108 micro and small ventures under the government's Covid recovery schemes.
