Technology has become the dominant force in the modern world. Technological advances have simplified our lives as well as made our lives more productive and more interconnected. As a result, we are increasingly depending on technological inventions, so engagement in technology now becomes the demand of time. The lack of capital, however, prevents competent students from pursuing new innovations or doing technology-related businesses after they finish their education. Financial inadequacy is the main obstacle for emerging new entrepreneurs especially in the tech-related sector. A new loan product (Term Loan) has been introduced by Bank Asia Limited to provide finance to those who are interested in new technological ideas named “Start-up Term Loan”.

Key Features of Start-up Term Loan by Bank Asia Limited:

1. This loan product is specially designed for those who are in need of working capital finance,
2. Advance payment for new business premises,
3. Business expansion and
4. Purchase of fixed assets.

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Who are eligible for Start-up Term Loan

1. Must be involved in completely technology-based new and creative initiatives.
2. Required technical education and/or skills.
3. Full-time engagement in the initiative/endeavor.
4. Personal guarantors are acceptable to the Bank and society.
5. Eligible entities: Sole Proprietorship Firms, Partnership Firms, and Private limited Companies.

Required documents to be submitted:

1. Certificate of successful completion of entrepreneurship training from any institution(s) accredited by Bangladesh Bank/competent authority.
2. Valid NID.
3. Valid Trade License.
4. Utility bills copy.
5. Passport size photographs.
6. Land related documents for secured loan.
7. Relevant pre-requisites as desired by the bank from time to time.

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Loan Limit allowed in Start-up Term Loan of Bank Asia Limited:

1. Unsecured Term Loan: BDT 0.50 lac to 20.00 lac
2. Secured Term Loan: Above BDT 20.00 lac to 1.00 crore

Rate of Interest:

To facilitate the engagement of people in the field of technology Bank Asia Limited allows Start-up Term Loan at a minimal rate of interest @4% p.a.

For further details, you can go to your nearest Bank Asia Limited branches or you can call 24/7 to 16205, Tel: +88-09617-001100 (Office Hours Only)

Bank Asia Limited, Corporate Offices

1. Bank Asia Tower,
   32 & 34, Kazi Nazrul Islam Avenue,
   Karwan Bazar, Dhaka
2. Rangs Tower,
   68 Purana Paltan, DhakaWeb : www.bankasia-bd.com, https://mybank.bankasia-bd.com
   E-mail : [email protected]