| Concepts |
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Small
Enterprise |
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Small Enterprise refers to
those enterprises: - |
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where goods are produced, recycled, repaired or traded
in traditional way; |
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where total bank investment is limited to Tk.250,000;
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where 10 or less workers are engaged on wages or
commission basis; |
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Medium
Enterprise |
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Medium Enterprise refers to
those enterprises:- |
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Where goods are produced, recycled, repaired or
traded applying some capital machinery; |
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Where 20 or less people are engaged on wages or
commission basis; |
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Where total bank investment does not exceed Tk.75, 00,000. |
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The net fixed assets (excluding land and buildings) of
borrowers may not exceed Tk. equivalent of US $250,000. |
Target Group |
Initially, Small &
Medium Size Entrepreneurs located within the accessible area of our branches will be the
target area under this program. The Entrepreneurs should have an existing profitable
business or a viable business plan. |
Eligibility for Credit Facilities
|
| The following criteria have to be
met by the applicant to qualify for a loan from Prime Bank Limited under its SME Credit
Scheme: |
| 01. |
The
entrepreneurs must be literate i.e. capable of reading & writing. |
| 02. |
The
entrepreneurs should be skilled in managing his / her business and has experience of
successfully managing the business for at least 02(two) years. |
| 03. |
The
age of the entrepreneurs must range between 25 years to 50 years. |
| 04. |
If
the applicant is an individual, he must be a national or permanent resident of Bangladesh.
If the Borrower is a company/firm or other business entity it must be registered in
Bangladesh and majority shares owned by Bangladeshi’s. |
| 05. |
The
applicant must be 100% privately owned, controlled and operated; |
| 06. |
The
applicant’s principal place
of business must be in Bangladesh; |
| 07. |
If
acceptable collateral security cannot be provided, the borrower should arrange for 02(two)
guarantors acceptable to the Bank. The type of guarantors depends on size of the loan and
business. In accepting a person as guarantor his social standing, income and asset shall
be considered. Any default loanee or unreliable person shall not be accepted as guarantor.
However, guarantor will be determined on a case to case basis. |
| 08. |
The
project shall be financially viable and socially desirable. |
| 09. |
The
Sponsor/applicant shall have reputation in the society. |
| 10. |
There
should be some innovation / creativity in the project. |
| 11. |
Proper
utilization and timely repayment of previous loan will be considered as proven track
record of the applicant for renewal & enhancement of credit facility. |
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