Prime Bank achieves loan disbursement target

Prime Bank has achieved 100% loan disbursement target under the Government's Stimulus Package for Cottage, Micro, Small, Medium Enterprises (CMSME) ahead of Bangladesh Bank set deadline of December 31, 2020.

A press release has been issued in this regard on Tuesday (December 29).

The bank is making proactive efforts to help micro, small and medium businesses hit hard by the coronavirus (Covid-19) pandemic secure much-needed funding. The financing with subsidized interest rate will greatly assist the businesses to overcome the losses due to the pandemic.

Prime Bank has disbursed BDT 250 crore to 2,388 CMSME customers, a target stipulated by Bangladesh Bank, according to the release.

This easy term credit helps the CMSMEs make a strong comeback after the onslaught of the unprecedented disruption to business due to the pandemic.  

Prime Bank has always been committed to CMSME sector, which is the lifeblood of the economy and vital to employment creation and invigorating the country’s growth engine. The bank’s wide network of MSME Banking and speedy loan processing help the bank to meet the target well before the deadline set by the central bank.

Mentionable here that Prime Bank is the first bank in Bangladesh to introduce collateral free loan to the small and medium companies in ICT and ITES business under an MSME ICT Alliance with major trade associations of the promising sector.