MDB IT Uddog

DESCRIPTION

MDB IT Uddog a custom-made loan product especially developed for IT based entrepreneurs. IT entrepreneurship is one of the most potential differentiating factors for the long run economic growth rate among countries. That is why we should care deeply about how to make in happen in an efficient and inclusive manner. Entrepreneurship is just another way in which young people who make a living, and is susceptible to the fault line of the gender-segregated division of work. To serve this sector MDB IT Uddog been designed.

Title Details
Target Customer :

This product will meet up funding requirement of the prospective target customers and contribute to achieve the following objectives:

  • To improve IT based knowledge and service what make better living standard and economy
  • To promote IT entrepreneurs
  • To promote young generations
  • To promote small scale IT service in rural areas
  • To contribute sustainable economic growth
  • To encourage young graduate for self-employment
Objective :

MDB IT Uddog is a timely venture of MDB to stand our position beside the IT Entrepreneurs. Ultimate objective of the product is to have the followings:

  • Explore the potentiality of the IT Entrepreneurs' who have the opportunity to grow and ensure access to credit
  • To address the call of state, Bangladesh Bank and IT community to stand beside the IT Entrepreneurs' who starve for banking facility for their development
  • To financially empower the young IT knowledge based society
  • It's a part of Social commitment to develop our digital Bangladesh
  • To become one of the initiating Banks to take initiative to promote the IT Entrepreneurs'
  • To keep strong footage for the Economic development of the country through developing the IT entrepreneurs'
  • Portfolio Diversification
Loan category :
  • MDB IT Uddog (TL)
  • MDB IT Uddog (RL)
Purpose of loan : To foster development of IT sector with bank finance for working capital and fixed asset purchase including civil construction for project building/warehouse/shed etc. Working capital may be extended in the form of RL and TL while fixed assets/construction of factory building/warehouse/shedshall be financed in the form of TL.
Eligibility criteria :
  • Tenure Of business: Minimum 02 years, It should be profit making business concern/startup business having potentials;
  • Nature of business: IT Business;
  • Legal form of business: Proprietorship/partnership/private limited company/ organizations having valid registrations/licenses.
  • Nationality: Bangladeshi by birth;
  • Entrepreneurs age: 21-60 years (applicable for sole proprietorship and partnership firms);
  • Owners/entrepreneurs experience: 2 years of experience in any kind of business.For startup business the entrepreneur/s should have practical experience/training in the relevant area
  • Owners/entrepreneurs capacity: To repay loan from secondary/tertiary source in addition to primary source of income;
  • Women entrepreneurship: More than 50% share owned by women entrepreneurls (for partnership/private limited company)
Account turnover
: Bank account turnover will be encouraged.
Availability
: Loans under this product will be available across the country through various branches/sales outlets of MDB.
Eligibility for re-finance : Applicable as per Bangladesh Bank rule or agreement with any other re-financing or pre-financing agency/s.
Loan size
: Up to BDT 5.00 crore including working capital and fixed asset finance. Loan size may be extended based on business viability and repayment capacity of the borrower.

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