Third gender entrepreneurs too will get stimulus loans
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Saturday
August 20, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
SATURDAY, AUGUST 20, 2022
Third gender entrepreneurs too will get stimulus loans

Economy

​​​​​​​TBS Report
27 April, 2021, 06:35 pm
Last modified: 27 April, 2021, 08:45 pm

Related News

  • SME Foundation assists 51 SMEs and 267 entrepreneurs to improve productivity
  • Corporate tax cuts to help boost emerging sectors: Entrepreneurs
  • Tax rebate for employers of physically challenged or third gender people to amend
  • Palli Sanchay Bank honors entrepreneurs
  • BB recognises Krishi Bank for target disbursement of agri-loans

Third gender entrepreneurs too will get stimulus loans

At the consumer level, the loan amount will be from a minimum of Tk1 lakh to a maximum of Tk75 lakh

​​​​​​​TBS Report
27 April, 2021, 06:35 pm
Last modified: 27 April, 2021, 08:45 pm
File Photo: Mumit M/TBS
File Photo: Mumit M/TBS

Physically challenged and third gender entrepreneurs – along with general small and medium businesses – will also receive loans from the second stimulus package announced by the government to avert the impacts of coronavirus.

The interest rate on this loan will be 4%. At the consumer level, the loan amount will be from a minimum of Tk1 lakh to a maximum of Tk75 lakh. The loan has to be repaid in a maximum of 24 equal monthly instalments on the basis of banker-customer relationship.

The Small and Medium Enterprise (SME) Foundation will disburse Tk300 crore of loans from the second phase stimulus package. To this end, the institution has entered into agreements with 11 banks and non-bank financial institutions, the SME Foundation said in a press release on Tuesday.

Last January, the government announced a stimulus package of Tk2,700 crore to improve the living standards of the cottage, micro, small and medium enterprise (CMSME) sector, and rural areas. Of this, Tk1,500 crore has been allocated for the CMSME sector.

Out of the Tk1,500 crore, the SME Foundation will distribute Tk300 crore – Tk100 crore this year and the remaining Tk200 crore by June next year. Of the total loan, 25-30% will be distributed among women entrepreneurs.

Those who received loans under the first phase incentive will not get loans from this package. Entrepreneurs from priority SME sub-sectors and clusters, women entrepreneurs, new entrepreneurs who have not received bank loans, entrepreneurs from backward areas and physically challenged and third gender entrepreneurs will get loans.

In general, loans will be disbursed in favour of single and joint ventures. But, group-based loans can be disbursed in favour of a maximum of five entrepreneurs on the basis of banker-customer relationship and consensus in order to bring marginal small, especially women-entrepreneurs under the loan facility.

The SME Foundation has also started the process of signing agreements with Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank and several other public and private banks and financial institutions to bring the entrepreneurs of remote areas under the loans.

Loans will be available at 11 financial institutions: Brac Bank, Premier Bank, Mutual Trust Bank, Bank Asia, Southeast Bank, Dhaka Bank, Dutch-Bangla Bank, Prime Bank, Basic Bank, IDLC, and LankaBangla Finance.

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

Entrepreneurs will contact the focal officers who coordinate with the SME Foundation, banks' head offices and branches and entrepreneurs.

Bangladesh / Top News

Third Gender / entrepreneurs / stimulus loans

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Stories beneath the trade data
    Stories beneath the trade data
  • India also will be ashamed of FM Momen’s statement: Quader
    India also will be ashamed of FM Momen’s statement: Quader
  • Logo of BNP
    BNP slams Momen for 'asking India to keep PM Hasina's govt in power'

MOST VIEWED

  • Photo: Collected
    Bangladesh is not in a crisis situation: IMF
  • Dollar price drops by Tk8 in kerb market
    Dollar price drops by Tk8 in kerb market
  • Banks limited to profit highest Tk1 per dollar
    Banks limited to profit highest Tk1 per dollar
  • The Bangladesh Trade and Tariff Commission. Photo: Collected
    Higher tariffs on 330 products proposed to reduce imports
  • Bangladesh may get annual fixed quota for food imports from India
    Bangladesh may get annual fixed quota for food imports from India
  • Photo: Salahuddin Ahmed/TBS
    Central bank using lower dollar value to show high GDP per capita income

Related News

  • SME Foundation assists 51 SMEs and 267 entrepreneurs to improve productivity
  • Corporate tax cuts to help boost emerging sectors: Entrepreneurs
  • Tax rebate for employers of physically challenged or third gender people to amend
  • Palli Sanchay Bank honors entrepreneurs
  • BB recognises Krishi Bank for target disbursement of agri-loans

Features

Illustration: TBS

China-Bangladesh currency clearance agreement can increase trade by 'an unimaginable scale': Li Jiming, Ambassador of China

18h | Interviews
Postcrossing (which connects people through its website) is a system built for postcard enthusiasts, where anyone can sign up and create an account for free. Photo: Noor A Alam

Postcrossers: Reviving a lost art with strangers and postcards

17h | Panorama
We will be facing massive, recurring challenges in the coming years no matter what. Photo: Reuters

Holes in the recession story

1d | Panorama
Illustration: Bloomberg

What nonmonogamy can teach moonlighters and job jugglers

1d | Pursuit

More Videos from TBS

Amazing folding smartphone

Amazing folding smartphone

9h | Videos
How Russia gets advantage for geographical location?

How Russia gets advantage for geographical location?

11h | Videos
Is textbooks enough for students?

Is textbooks enough for students?

11h | Videos
134-year-old traditional sandwich of New York

134-year-old traditional sandwich of New York

16h | Videos

Most Read

1
From left Afzal Karim, Murshedul Kabir and Mohammad Jahangir
Banking

Sonali, Agrani and Rupali banks get new MDs

2
Russia now offers Bangladesh finished oil
Energy

Russia now offers Bangladesh finished oil

3
Photo: TBS
Bangladesh

5 crushed to death as BRT girder falls on car in Uttara

4
Photo: Collected
Economy

Bangladesh is not in a crisis situation: IMF

5
Migrant workers. Photo: UNB
Migration

Can Bangladesh benefit from Canada’s 10 lakh job vacancies?

6
Eight more banks make unusual gains from forex dealings
Banking

Eight more banks make unusual gains from forex dealings

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]