Standard Islami Bank MOUSHUMI RIN (SEASONAL INVESTMENT)
"Standard Islami Bank Moushumi Rin" is an SME Investment facility with/without collateral to create additional opportunities during different festivals and seasonal events (i.e. Eids, Pujas, Christmas, Bengali and English New Year, etc.) for SME businesses to organize special business arrangements to increase sales turnover and profit.
Key Features
- To meet the cash requirement as short-term financing on occasional events for special business arrangements to increase sales turnover and profit.
- Facility Type: Short-Term Investment.
- Investment Ceiling: Tk. 2.00 Lac to Tk. 20.00 Lac.
- Investment Tenure: Maximum 06 months (no grace period is allowed).
- Nil margin LC facility.
- Nominal Profit Rate.
Eligibility
- Age: At least 21 years.
- Any entrepreneur having the 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 whose Net Worth must not be less than the proposed Investment amount/Investment limit.
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.
- Lien of cash collateral (FDR) and other encashable financial instruments (if any).