BRAC Bank Limited and lifestyle e-commerce platform, Bagdoom.com, on Wednesday introduced the country’s first even SME loan product for the e-commerce entrepreneurs, said a news release.
The product styled ‘BRAC Bank – Bagdoom Merchant Financing Platform: eMPOWER’, an SME loan programme to financially empower the merchants of Bagdoom.com and assist in their business expansion, was launched at a press conference at the BRAC Bank Head Office in Dhaka.
Under the agreement between BRAC Bank and Bagdoom, the merchants exclusively associated with Bagdoom.com can avail loan facilities with the minimum of collaterals and lowest of interest rates from BRAC Bank.
Managing director and CEO of BRAC Bank, Selim RF Hussain, executive chairman of eGeneration Group and Bagdoom.com Shameem Ahsan, CEO of Bagdoom.com Mirajul Huq, head of SME banking division of BRAC Bank Syed Abdul Momen were present at the event along with the high officials of both the organisations.
Upon launching of the programme, Shameem said, ‘The biggest obstacle for entrepreneurs in the ICT and e-commerce sectors is the lack of investment. BRAC Bank and Bagdoom.com have launched this platform to solve the problem. The financing platform will facilitate thousands of new e-commerce entrepreneurs and enterprises entering the market and creation of new jobs.’
Selim said, ‘We are very pleased we are being able to offer SME loan facility to the merchants and sellers of Bagdoom.com. With this loan facility, the entrepreneurs will be able to further expand their businesses. We will work together with Bagdoom.com to promote the country’s e-commerce sector.’
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