Package Name: Alo – Women Entrepreneur Finance

Description:

City Bank brings “Alo”, financing proposition for women entrepreneurs. Alo (আলো) is a Women-only financing proposition for cottage, micro and small businesses operating in trading, manufacturing and services business. Budding, grassroots women entrepreneurs involved in groceries, boutique, Jamdani, Nakshikatha, beauty and salon, agriculture, agro-processing, food, e-commerce, leather, handloom, specialized textiles etc. can apply; for the purpose of business expansion, working capital requirement and fixed asset purchase.

TARGET SEGMENTS:

1. Grassroots, budding women entrepreneurs: Cottage and micro businesses which did not have access to finance from banks/are availing facilities from NGO, MFIs etc.
2. Established women entrepreneurs: Small enterprises involved in trading, manufacturing and services with established business experience

Loan amount ranging from

• 1 – 5 lac for grassroots & MFI, cottage and micro entrepreneurs
• 3 – 100 lac unsecured loan for established small business entrepreneurs
• 10 – 250 lac secured loan for established small business entrepreneurs

Loan tenure ranging from

• 12-36 months for term loans for grassroots/MFI, cottage and micro entrepreneurs
• 12-60 months for term loans for established small businesses
• 3-11 months for Single Installment Loans12 months for Overdraft (to be reviewed annually)
• 12 months for Overdraft (to be reviewed annually)

Feature:

• 1 year of continuous business operation
• BDT 1-5 lac unsecured loan for grassroots/MFI, cottage and micro entrepreneurs
• Up to BDT 1 crore unsecured loan for established small businesses
• Up to BDT 2.5 crore secured loan for established small businesses
• Up to 36 month tenure for grassroots/MFI, cottage and micro entrepreneurs
• Up to 60 months tenure for established small businesses
• For Cottage & Micro segment, only BDT 25,000 minimum net income to qualify

 

Other benefits

• Processing Fee: Nil
• Customers may also qualify for refinancing facility (subject to availability and fulfilling eligibility criteria of Bangladesh Bank)

Interest Rate: Interest Rate: 9%

Eligibility:

• Age of Owner: minimum 21 and maximum 65 years
• Net Income: minimum BDT 25,000 for category A and BDT 50,000 for Category B
• One (1) year of continuous business operation
• Valid trade license
• Legal form of business: Sole proprietorship, partnership, limited company
• Registered Mortgage of property for secured loans

Enquiry:

Enquiry Detail