Any business purpose loan for Small and Medium sized business, owned by women entrepreneurs.
Eligibility
Woman entrepreneurs having two years experience in the same line of business.
Monthly cash flow to support proposed loan installment.
Nature of the Loan
Term Loan
Loan Size
Minimum Tk. 50,000/-(Fifty Thousand)
Maximum Tk. 3.00 lac
Repayment
Monthly Repayment facility.
Security
No Collateral security
Loan Period
Maximum 18 (Eighteen) months for loan amount of Tk. 50,000/-
Maximum 24 (Twenty four) months for loan upto Tk.1.00 lac.
Maximum 36 (Thirty six) months for loan upto Tk.3.00 lac.
Interest Rate
15.00% p.a. with quarterly rest or as revised from time to time.
Loan Processing Fees
Tk.500/- to be realized.
Service Charge
0.25% on Loan amount, Max: Tk.500/-
Penal Interest
Additional 3% on the overdue/ excess over limit amount, if any.
Required document/condition
1 (One) copy passport size photograph of borrower/ Partners as well as guarantor(s).
Copy of National Identity Card.
Copy of valid Trade License.
Declaration of Net Worth of the borrower.
Duly signed and crossed post dated cheques in favour of Bank branch for each instalment and one undated cheque for full loan value including full interest supported by memorandum of deposit of cheques.
Financial statement.
Up to date clean CIB report.
NOC from Directorate of Environment, where required.
Shortest possible processing & least formalities
SME Banking
The growth of Small and Medium Enterprises (SMEs) in terms of size and number has multiple effect on the national economy, specifically on employment, GDP growth, and poverty alleviation in Bangladesh. IFIC Bank is also a partner of SME sector development of the country.
