City Alo
Alo Entrepreneur Finance
City Bank brings “Alo”, financing proposition for women entrepreneurs. Alo is a Women-only financing proposition for cottage, micro and small businesses operating in trading, manufacturing and services business. Budding, grassroots women entrepreneurs involved in groceries, boutique, Jamdani, Nakshikatha, beauty and salon, agriculture, agro-processing, food, e-commerce, leather, handloom, specialized textiles etc. can apply; for the purpose of business expansion, working capital requirement and fixed asset purchase.
City Alo
Alo Entrepreneur Finance
Available for small-sized businesses operating in trading, manufacturing, services, non-farm activity, agriculture and agro-based industries, City Alo Entrepreneur Finance Small Loan offers flexibility and convenience to women entrepreneurs to help you grow your business.
Alo Entrepreneur Finance
Features
Grassroots, budding women entrepreneurs
Cottage and micro businesses which did not have access to finance from banks/are availing facilities from NGO, MFIs etc.
Established women entrepreneurs
Small enterprises involved in trading, manufacturing and services with established business experience
Secured Loan
For established small businesses needed for business expansion, working capital requirement and fixed asset purchase.
Overview
- 1 year of continuous business operation
- BDT 1-5 lac unsecured loan for grassroots/MFI, cottage and micro entrepreneurs
- Up to BDT 1.5 crore unsecured loan for established small businesses
- Up to BDT 3.5 crore secured loan for established small businesses
- Up to 36 month tenure for grassroots/MFI, cottage and micro entrepreneurs
- Up to 60 months tenure for established small businesses
- For Cottage & Micro segment, only BDT 25,000 minimum net income to qualify
- 1 – 5 lac for grassroots & MFI, cottage and micro entrepreneurs
- 0.03 - 1.5 crore unsecured loan for established small business entrepreneurs
- 0.1 – 3.5 crore secured loan for established small business entrepreneurs
- 12-36 months for term loans for grassroots/MFI, cottage and micro entrepreneurs
- 12-60 months for term loans for established small businesses
- 3-11 months for Single Installment Loans
- 12 months for Overdraft (to be reviewed annually)
- Age of Owner: minimum 21 and maximum 65 years
- Net Income: minimum BDT 25,000 for category A and BDT 50,000 for Category B
- One (1) year of continuous business operation
- Valid trade license
- Legal form of business: Sole proprietorship, partnership, limited company
- Registered Mortgage of property for secured loans
- Refinancing Interest Rate:5% (As per Bangladesh Bank Circular)
- Loan Application Fee: Nil
- Processing Fee: 0.5%
Are you interested in opening an account?
Please feel free to visit us at your nearest City Bank branch or call our 24/7 dedicated customer service center.