• Submit Story
  • Gallery
  • Members
  • Browse by Category
  • Videos
  • Top Rated Articles
  • News RSS Feeds
  • BB launches Tk 100cr fund for cottage, micro, small entrepreneurs
    BB launches Tk 100cr fund for cottage, micro, small entrepreneurs Frontier
    Frontier on Friday, June 27, 2014
    reviews [0]
    Business [607]
    Fresh entrepreneurs in country's cottage, micro and small sector will now have easy access to soft loan for their businesses, thanks to Bangladesh Bank for launching a new refinancing fund for the sector.

    Bangladesh Bank (BB) has launched the Tk 100 crore "refinancing fund for new entrepreneurs in Cottage, Micro and Small sector", said a BB circular issued today.

    Women entrepreneurs, innovative and creative entrepreneurs, ICT sector, import alternative initiatives, export-oriented initiatives and educated related initiatives of entrepreneurs educated with technical education will get priority for loans from this fund.

    Banks and non-bank financial institutions (NBFIs) will get the fund to provide loans to new entrepreneurs of cottage, micro and small sector. They will have to sign participation agreements with the SME and Special Programmes Department of the central bank if they are interested to introduce the new refinance facility in their banks.

    Funding support under the refinance scheme will be available for working capital, mid-term and long-term investment and the tenure will be one year, three years and five years.

    The interest will be 10 per cent (bank rate +5%) and banks and financial institutions which will have agreement with the central bank for disbursement of loans will give borrowers minimum 3 months and maximum 6 months grace period.

    According to the central bank, an individual entrepreneur will get maximum Tk 10 lakh loan without any collateral and any entrepreneurs will get Tk 25 lakh with collateral.

    Fresh entrepreneurs who are trained under different government and non- government entrepreneurship development programmes, including SME Foundation, Department of Youth Development, Bangladesh Women Chamber of Commerce and Industry, Dhaka Chamber of Commerce and Industry will be eligible for the loan from this fund.
                               
      Comments
    » Not yet reviewed by any member. You can be the first one to write a review.
    » You must be logged in to post a comment.
    Sponsor

    D S E










    View Office : The Daily Frontier in a larger map
    Related Articles
    Aimed at continuing its poverty alleviation drive through development of small scale industries, the cabinet today approved a proposal for establishment of a new foundation.... A training workshop for new entrepreneurs who have submitted their business ideas to DCCI’s initiative for grooming up 2,000 new entrepreneurs will begin at the DCCI on March.... Bangladesh Bank (BB) governor Atiur Rahman on Thursday said they are going to issue an order to fix the loan refinancing for some small women entrepreneurs below Tk 50,000..... People with damage in the small blood vessels of the retina and kidneys are at increased risk to develop the most common type of abnormal heart rhythm, a new study has warned..... Teenagers who are troublemakers may go on to become successful entrepreneurs, if a new study is to be believed. Many successful entrepreneurs exhibited aggressive behavior....
    Adsense II [728 x 90]