SME Foundation will disburse an additional Tk 450 crore in loans to small and medium enterprises (SMEs) under the government-announced stimulus package and its own fund. Entrepreneurs can borrow between Tk 1 lakh and Tk 50 lakh at a 6% interest rate, repayable over 48 monthly installments in four years. The foundation signed an agreement with 23 banks and financial institutions for the loan distribution on June 11.
SME Foundation Managing Director Salahuddin Mahmood detailed the loan disbursement policy for the ‘Revolving Fund’ at the signing ceremony. The foundation aims to promote collateral-free loans, allocating 30% of the total loan amount to women entrepreneurs and 10% to SME cluster entrepreneurs. Previously, the foundation distributed Tk300 crore to 3,108 micro and small ventures under the government’s Covid recovery schemes.
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