Empowering Small Businesses and Female Entrepreneurs

Non-Banking Financial Institutions (NBFIs) like IDLC, IPDC, and SFIL are often overlooked despite their crucial role in supporting individuals and businesses in the financial sector. These institutions provide essential loans and programs, particularly benefiting Small and Medium-Sized Entrepreneurs (SMEs) and women entrepreneurs, fueling growth and aspirations within communities.

IDLC, for example, offers SME Term Loans without requiring collateral, disbursing a significant amount in SME loans in 2023. They also provide non-financial services like training programs to help SME owners develop essential skills for building sustainable businesses. Additionally, IDLC actively participates in entrepreneur-banker matchmaking programs to promote financial inclusivity, especially in rural areas.

IPDC, on the other hand, offers affordable loan products like Long Term and Short Term Finance Loans to support SME enterprises. They recently launched IPDC Express and IPDC Goti to disburse loans to CMSMEs, benefiting a large number of SME customers. IPDC also focuses on empowering women entrepreneurs through specialized products and initiatives like IPDC Joyee, providing low-interest loans and comprehensive business support services.

SFIL Finance, committed to fostering economic growth, offers tailored loan products like Term Loans and Revolving Short Term Loans to address specific needs of SMEs. Their Women Entrepreneurship Loan is designed to support visionary businesswomen with flexible financing options.

Overall, NBFIs play a crucial role in providing financial support to SMEs, but there is a need to create specialized schemes tailored to different business sizes to ensure effective financial inclusion. Experts emphasize the importance of Bangladesh Bank’s role in emphasizing loans to SMEs and implementing specific schemes to cater to diverse businesses and promote financial inclusivity.