SME Term Loan
Product feature:
SME Loan is a loan facility for small and medium enterprises (defined as per Bangladesh Bank Prudential Regulations) involved in trading, manufacturing, service, agro-processing machinery and vehicles, and many other acceptable sectors spread all over Bangladesh marketed through the SME Department of AFPLC. The program offers term loans for fixed asset purchase including machinery, working capital finance, and factoring (supplier finance). We offer different types of SME loan which is given below:
Facility Type: Short to Medium
Term Finance Purpose: Short to Medium-Term Loan for working capital finance, to purchase inventory and finance receivables. Factoring (Supplier Finance), Distributor Finance etc.
Loan Limit: As per requirements of client.
Loan Tenor: Minimum allowable tenor for this facility is six months and maximum preferable is sixty months.
Repayment: Equated Monthly Installment, Structured Payments or at maturity.
Age: 24 to 60 years at the time of application. In case of a private limited company, this age limit can be relaxed for the Directors other than Chairman and Managing Director up to 70 years.
Experience: Must have minimum 2 to 3 years’ experience in the same line of business as an entrepreneur.
Interest Rate: Regular Loan - 11%, Refinance Scheme - 7%
Necessary Documents for SME Loan
- Application for loan
- Trade License (last 3 years))
- TIN Certificate
- CIB Undertaking and inquiry form
- Business Picture
- Attested Photo of the Client & Client’s Wife
- NID, Update Trade License. ETIN, Tax return clip of Client (three years)
- NID, Update Trade License. ETIN, Tax return clip of Guarantors
- Utility Bill Copy
- Existing equipment List with the price if have.
- Receivable List
- Payable List
- Supplier List
- Quotation price for equipment purchase
- Existing Client list with mobile no if you provide equipment/service.
- Yearly Sales (Month Wise)
- Bank Statement (last one years)/ photocopy of Sanction letter (existing loan)
- Loan Outstanding Position (From Respective Bank)
- Sales Register/Memo
- Rental Deed
- In case of Limited Company, the following documents/papers have been obtained:
- Copy of Certificate of Incorporation.
- Copy of Memorandum and Article of Association.
- Board Resolution in support of loan/lease application.
- Up to date Form X & XII
- Companies latest Audited Financial Report.