Standard Islami Bank BABBOSHA SHACHAL (WORKING CAPITAL FINANCE)
The Investment facility in terms of Working Capital to meet cash requirements to ensure smooth day-to-day business operations for Small and Medium Enterprises (SMEs) involved in Manufacturing/Trading/Services.
Key Features
- Any justifiable working capital need for small and medium enterprise customers.
- Facility Type: Continuous Investment, LC (Sight/DP) and LTR.
- Investment Ceiling:
- Tk. 2.00 Lac to Tk. 50.00 Lac for cottage/micro/small enterprise customers.
- Tk. 2.00 Lac to Tk. 300.00 Lac for medium enterprise customers.
- Investment Tenure:
- Continuous Investment for a maximum of 12 months.
- LC (Sight/DP)/LTR for prescribed tenure.
- Nil margin LC facility.
- Nominal Profit Rate.
Eligibility
- Age: At least 21 years.
- Any entrepreneur having experience of successfully managing the business for at least two years may apply for the Investment.
Required Documents
- Valid trade license.
- Special license/permission (if applicable) for business operation.
- Notarized partnership deed/registered by Sub-Register Officer (in case of partnership).
- Memorandum and Articles of Association in case of Limited Company.
- Passport/National Voter ID/Ward Commissioner/UP Chairman certificate of the Proprietor/Partner/Directors.
- Photo of the Proprietor/Partners and Guarantors.
- Statement of all active bank Investments (if any).
- Last 12 months' bank statement of transactional account.
Security Arrangement
Primary Security
- Hypothecation of machineries, equipment, vehicles, and inventories.
- Personal guarantee of Proprietor/Partner/Directors and their spouse.
- 02 (two) 3rd-party Guarantors acceptable to the Bank and whose Net Worth must not be less than the proposed Investment amount/Investment limit.
- Lien of cash collateral (FDR) and other encashable financial instruments.
Collateral
Not compulsory for credit facility up to Tk. 5.00 Lac.
- Registered mortgage of property/ownership of the space/possession right purchased in Bank's name.