BM Desk:

In a move to boost working capital flow for small and medium-sized enterprises (MSMEs), Prime Bank PLC. has partnered with PRAN-RFL Group, a leading Bangladeshi conglomerate. This collaboration aims to ease financial constraints for PRAN-RFL’s suppliers by offering them convenient access to credit.

In presence of Faisal Rahman, Additional Managing Director of Prime Bank, Nazeem A. Choudhury, Deputy Managing Director of Prime Bank, and Uzma Chowdhury, director-finance of PRAN-RFL Group, exchanged the agreement documents on behalf of their respective organizations at Prime Bank head office in Dhaka, recently. Senior officials from both organizations were also present during the agreement signing ceremony.

Prime Bank has always been committed to understanding the needs of MSMEs and developing solutions that address their challenges. This partnership with PRAN-RFL reflects our proactive approach to providing tailored financial products that ensure easy access to credit for businesses.

Under the partnership, PRAN-RFL suppliers will benefit from mortgage-free overdraft loans. suppliers can access loans up to BDT 10 crore without the need for collateral; hassle-free credit streamlining process based on validated invoices of delivered products eliminates lengthy paperwork and delays.

The tie will help in fast-paced business growth. Timely access to credit enables suppliers to meet PRAN-RFL’s demands efficiently, contributing to their business expansion.

With this initiative, Prime Bank and PRAN-RFL Group demonstrate their commitment to fostering a supportive environment for MSMEs in Bangladesh. By addressing financial hurdles faced by suppliers, the partnership paves the way for a more vibrant and thriving business ecosystem.