The entrepreneurs having business operations for over one and a half years are eligible to apply for the EBL Uddyog loan valuing from Tk 6 lakh to Tk 50 lakh.

Entrepreneurs will be able to repay the loan in equal monthly instalments within maximum five years, and they will not need to provide any type of mortgage of land or property to avail of the loan.

As security, an entrepreneur will need to deposit 50 percent of the loan amount as fixed deposit with a competitive interest rate, the release adds.

Any interested entrepreneur can apply for the loan at any of the branches of the bank or SME centres.

The bank organised a press conference in Dhaka yesterday to announce the launch of the loan product, where Managing Director (current charge) of the bank Ali Reza Iftekhar, Head of SME Muklesur Rahman, Head of Marketing Nazeem A Choudhury and senior officials, among others, were present.