SME Loan in only 7 days for online entrepreneurs launched
Shakti Foundation, one of the largest microfinance institutions in the country, and Delivery Tiger, a leading logistics platform, have collaborated to launch the ‘e-Loan’ product for online entrepreneurs. The ‘e-Loan’ product enables online small and medium (SME) retailers to get loans of up to Tk 5 lakhs within 5 to 7 working days of application. The entire process from loan origination to disbursement and repayment is completely digitized. This allows small and medium entrepreneurs quick access to finance; moreover, the service charge of this loan is also relatively low compared to MFI standards. Small and medium entrepreneurs, who currently can't apply for SME loans from banks due to trade licensesdocument-related or other document related issues can also easily apply for this e-Loan.
Shakti Foundation and Delivery Tiger hope that this product will help meet the demand for working capital of online SMEs.
An agreement regarding e-Loan was signed on 28th February 2022 at the Head Office of Shakti Foundation in Mirpur, Dhaka. Mr. Imran Ahmed, Deputy Executive Director of Shakti Foundation, and Mr. A.K.M Fahim Mashroor, Chief Executive Officer of Delivery Tiger, were present on the occasion.