BSCIC to disburse Tk 500m loans to corona-hit CMSMEs

Staff Correspondent

6 April, 2021 12:00 AM printer

Bangladesh Small Cottage Industries Corporation (BSCIC) will disburse Tk 500 million loans to cottage, micro, small and medium enterprises (CMSMEs) affected by corona crisis to help them overcome from the crisis.

A CMSME entrepreneur will be able to take Tk 10 lakh to highest Tk 20 lakh without any collateral.

BSCIC has received the money as special grants from the stimulus packages of the ministry of finance stipulated for CMSME entrepreneurs.

Of the loan package, 10 percent will be set aside for women entrepreneurs, says a BSCIC release.

BSCIC Chairman Md Mostaque Hassan has instructed their regional and district offices to disburse the loans by June 30, The highest interest rate for these loans will be 4 percent.  The loans will have six-month grace period and are repayable in two years in 18 equal installments.

BSCIC chairman said: “Tk 500 million has been received out of Tk1,000 stimulus package. The received money has a binding for distribution by June 30.”

Letters have been sent to BSCIC’s regional and district offices in this regard and at the same time they have been given target of ensuring cent percent loan disbursement, he added.