Dhaka, Bangladesh (BBN) – Standard Chartered Bank has recently launched collateral free business instalment loan.
The first loan was sanctioned to AS Knitting Limited; a knit manufacturer operating since 2002. In the launching ceremony the bank announced its collateral free Business Instalment Loan of upto BDT 10 million for Small and Medium Enterprises (SME).
“We remain committed to the development of Small & Medium Enterprises in Bangladesh by continuously addressing their changing financial needs” explains Hassan O Rashid, General Manager SME Banking, Standard Chartered. He also shared that, “in last eight years in SME Banking, we have brought in many innovations especially for Small Business segment.
The Business Instalment Loan from Standard Chartered Bank is offered from BDT 1.0 million to BDT 10 million without any cash or property collateral depending on applicant’s annual sales turnover and nature of business.
“The loan offering was exactly what my company needed for its expansion” said Mahbub Iqbal, Managing Director of AS Knitting Limited, adding that “the fact that no cash or property security is required to avail this loan is its main feature”.
BBN/SSR/AD-19Sept12-11:50 am (BST)
