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| Small Business Investment Scheme |
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| Target groups |
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Small Businessmen like Wholesaler, Retailer, Small Manufacturer/Producer and Trader etc. |
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Self-Employed Person like Doctors/Engineers/Professionals etc. |
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Small & Cottage Industries. |
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Other existing & new small business, micro & small industries and commerce. |
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| Mode of Investment |
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Hire Purchase under Shirkatul Meelk (HPSM) |
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Lease/Ijara |
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Bai-Muajjal-Commercial-TR |
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Bai-Muajjal (Term) |
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| Ceiling of Investment |
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The amount of investment shall be Tk 50,000/- to Tk 5,00,000/- (Taka fifty thousand to Taka five lac). |
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Maximum ceiling of the investment will be Tk 3,00,000/- (Taka three lac) only for any region other than Dhaka & Chittagong Metropoliton Area. However, investment may be extended beyond the ceiling at the discretion of the Management. |
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Bank investment-Client equity ratio where applicable shall be 60:40. |
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| Tenure of Investment |
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In case of HPSM, Lease and Bai-Muajjal (Term): |
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Maximum tenure will be 3 years i.e. 36 months (a period of 3 months may be allowed as grace period to the deserving client) |
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In case of Bai-Muajjal- Commercial-TR : |
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Maximum tenure will be 1 year i.e. 12 months and renewable on satisfactory performance. |
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| Rate of Profit/Rent |
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Rate of profit/rent is 15.00% p.a. |
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| Fees |
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Application Fee of Tk 100/- (non refundable); |
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Processing Fee of Tk 500/- (non refundable); |
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| Supervision Charge |
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Supervision charge will be @ 2.00% per annum. |
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| Risk Fund |
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Risk fund will be @ 1.00% per annum. |
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| Security |
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General Security for each case: |
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- Hypothecation of Stock/Equipments;
- The stock/equipments should be duly and properly insured to cover the risks of probable hazards;
- 01 (one) post dated master cheque in favor of SJIBPLC covering the investment;
- Post dated cheque against each installment/deal;
- Trust Receipt(s) duly executed by the Client along with delivery order(s) for each deal (in case of BMTR).
- Personal guarantee of the client, spouse and adult son(s) & daughter(s), if any of the client
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Specific Security for the investment not exceeding Tk 2,00,000/-: |
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- Personal guarantee from two persons having good financial means & standing and acceptable to the Bank;
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Specific Security for the investment exceeding Tk 2,00,000/-: |
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- Registered mortgage of immovable property owned by the client(s) or by a third party acceptable to the bank having:
- Forced sale value of double the amount of investment under the Bai-Muajjal-Commercial-TR facility;
- In case of HPSM, Lease and Bai-Muajjal (Term) investment, forced sale value of collateral security should not be less than 1.50 times of the Bank’s investment.
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| Any other security to be deemed necessary for supporting the proposed facility to be approved on priority basis. |
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