The government will provide loans to small and medium enterprises (SMEs) under the second phase of incentives to accelerate the economic recovery and improve the living standards of the marginalized people.
According to the SME Foundation, the government has allocated a total of Tk 3,000 crore for small and medium enterprises in the second phase of the incentive package, of which Tk 300 crore was given to the SME Foundation.
Out of this Tk 300 crore, the SME Foundation will provide Tk 100 crore in the current fiscal year. The remaining Tk 200 crore will have to be spent in FY 2021-22, a press release of the SME Foundation said on Tuesday.
Entrepreneurs in small and medium enterprises will get loans ranging from Tk 1 lakh to a maximum of Tk 75 lakh to offset the loss of corona.
The interest rate on this loan will be 4 percent. Small entrepreneurs will be able to repay this loan in 24 installments in two years.
To this end, the SME Foundation has already undertaken loan disbursements through agreements with 11 banks and non-bank financial institutions.
Banks and financial institutions are: BRAC Bank, Premier Bank, Mutual Trust Bank, Bank Asia, Southeast Bank, Dhaka Bank, Dutch-Bangla Bank, Prime Bank, Basic Bank, IDLC Finance and LankaBangla Finance.
This loan will be available to small entrepreneurs who are involved in various activities with training from SME Foundation.
It is known that this number is about 40 thousand. Entrepreneurs do not have to come to Dhaka for loans.
They can withdraw loan money from the concerned bank in their own district. No collateral will be required to take this loan.
The loan will be recommended by the SME Foundation. The SME Foundation will have to complete the distribution of Tk 100 crore by June.
It is learnt that out of Tk 100 crore, 30 percent should be distributed among women entrepreneurs. All banks have been given this instruction.
According to the policy of the Ministry of Finance, these loans will be given to marginal entrepreneurs, women entrepreneurs, new entrepreneurs and rural entrepreneurs.
The SME Foundation has assured that in the first phase of the incentive package announced by the government, the harassment and sufferings of the traders who have to go to the banks to get loans will not happen this time.
