The Financial Express

SMEs incentive application open

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Small and medium enterprises (SMEs) can apply for loans under the government’s incentive package to offset the coronavirus losses from Sunday.

A virtual press briefing revealed on Saturday that enterprises can apply for loans through Brac Bank, Mutual Trust Bank, Premier Bank, Basic Bank, and IDLC Finance.

Later, they can gradually apply for loans through the remaining banks and financial institutions that have signed an agreement with the SME Foundation.

Md Mafizur Rahman, managing director of SME Foundation, said that despite the target of distributing at least 25 per cent of the loans allocated for women entrepreneurs under the incentive package, the foundation hopes that they will be able to disburse more than 50 per cent.

He added that the goal of the foundation is to ensure that more women entrepreneurs will get loans at any cost.

The fund comes from the SME Foundation, he said last week adding that they will provide Tk100 crore in the current fiscal year and another Tk 20 million in the next fiscal year 2021-22.

The SME Foundation, in consultation with partner banks and financial institutions, will appoint focal officers in one or more branches that are convenient for entrepreneurs.

Entrepreneurs will contact the focal officer, who will coordinate with the SME Foundation, the bank’s head office and branches and entrepreneurs, reports BSS.



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