Women entrepreneurs push for hassle-free loans
Women entrepreneurs yesterday called for simplifying the loan processing system as the existing procedure discourages them from borrowing from banks.
They also demanded ensuring the disbursement of 10 percent of SME funds that has been allocated for them by Bangladesh Bank.
“A women entrepreneur has to go through a lengthy process to obtain a loan from a bank. She has to fill up a number of papers and documents to get a loan, which is time-consuming,” said Rokia Afzal Rahman, president of Bangladesh Federation of Women Entrepreneurs.
Loan processing should be simple and hassle-free to ensure that more women entrepreneurs have access to the SME Funds, said Rokia.
The former caretaker government adviser was speaking at a debate programme between the members of Nordic Chamber of Commerce and Industry in Bangladesh and women leaders and entrepreneurs at the Ericsson Bangladesh office.
A lack of credit is one of the major problems that Bangladeshi women face in starting or expanding a business. Banks also decline to lend them on the grounds of collateral.
Bangladesh Bank has reserved 10 percent of its SME sector-refinancing fund for women entrepreneurs in an attempt to ensure more female participation in trade, commerce and productive sectors.
However, many women who run small businesses allege that they do not get any bank loans.
Rokia said women in Bangladesh have shown good business acumen and proved to be good, reliable borrowers.
“Studies have shown that the success of business women has brought about positive socio-economic changes in the country. So far, women entrepreneurs have shown their entrepreneurial skills through their own basic knowledge, without technological support,” she said.
State Minister for Women and Children Affairs Shirin Sharmin Chaudhury said Bangladeshi women possess competence and skill and are capable of changing the corporate and business landscape of the country.
She said the government has already taken various steps for the development of women and their endeavours that will encourage women entrepreneurship.
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