Prime Bank has formed a strategic partnership with TVS Auto Bangladesh to extend collateral free SME loan to its dealers across the country.
The retailers of TVS Motorbike will be able to avail up to Tk1 crore collateral free OD (overdraft) facility under exclusive MSME product titled "Prime Goti", said a press release.
Commenting on the new partnership, Prime Bank's Managing Director and CEO Hassan O Rashid said: "Prime Bank is committed to provide easy access to credit to MSMEs with innovative and tailor-made banking solutions. This financing facility will help the dealers expand motorcycle business across the country."
The partnership will enable easy access to finance for the TVS motorcycle dealers who need credit facilities to meet working capital and to expand their business; and will be a big boost to the country's booming motorcycle industry as the dealers can expand their business with the unsecured loan, the press release added.