Small business loan in just seven days for online entrepreneurs

| Update:
Mar 02, 2022 12:52:30 p.m.

The microfinance institution Shakti Foundation, in collaboration with Delivery Tiger, a logistics platform, launched the “e-Loan” product for online entrepreneurs.

The “e-loan” enables small and medium e-tailers to obtain loans of up to Tk 500,000 within five to seven working days of application, according to a press release received on Wednesday.

The entire process, from loan issuance to disbursement and repayment, is fully digitized, the statement said, adding that it ensures quick access to finance. In addition, the service fees for this loan are also relatively low by MFI standards.

Entrepreneurs, who currently cannot apply for SME loans from banks due to business license or other document issues, can also easily apply for this e-loan.

Shakti Foundation and Delivery Tiger hope this product will help meet the demand for working capital for online SMEs, read the release.

An agreement regarding the electronic loan was signed on February 28 at the Shakti Foundation headquarters in Dhaka. Imran Ahmed, Deputy Executive Director of the Shakti Foundation, and AKM Fahim Mashroor, Managing Director of Delivery Tiger, were present for the occasion.

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