collateral

Women entrepreneurs to get collateral-free loan: BB

MNA Business Desk: Bangladesh Bank has directed banks to provide Tk25 lakh loan to a woman entrepreneur without any collateral.

Bangladesh Bank delivered a circular on Sunday to ease the procedure of the SME loans to the women and new entrepreneurs.

Bangladesh Bank data showed that the local banks and financial institutions are going to disburse Tk23,500 crore loans to create new entrepreneurs to encourage sustainable development.

New women entrepreneurs are going to get Tk1,657 crore as SME loans this year as the women entrepreneurs have to face various unnecessary queries while taking loan from the banks. Besides, there are allegations that they do not get sufficient bank loan.

However, Bangladesh Bank has made it compulsory for banks and financial institutions to disburse SME and agricultural credit at low interest rates.

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