Thursday, July 9, 2020

Prime Bank, BACCO launch financing alliance

Business Desk :
Prime Bank Limited and Bangladesh Association of Call Center and Outsourcing (BACCO) have joined hands together to facilitate financing for the entrepreneurs in the field of call center and outsourcing.
Managing Director and CEO of Prime Bank Rahel Ahmed and President of BACCO Wahidur Rahman Sharif formally launched the alliance through a virtual press meet on Wednesday while Planning Minister M A Mannan MP was present as the chief guest.
The partnership titled "Prime Bank-BACCO Alliance for MSME Financing Solutions" will enable easy access to finance to BPO/Outsourcing companies as they strive for market expansion locally and globally. It will be a big boost for the country's BPO/Outsourcing sector as eligible BACCO members can now avail collateral free loan up to BDT 50 lakh and other tailor-made financing solutions.
The entrepreneurs can make more contribution to the country's economy, said a press release.
Under the deal, the BPO/Outsourcing firms will get working capital (CC, OD and Demand Loan), Term Loans for Fixed Asset Purchase and Capital expenditures, International Trade solution- LC, LATR, IDBP etc., Bank Guarantee, Work Order etc. They can also avail a wide range of deposit products and free Internet Banking - ALTITUDE - for conducting broad range of e-transaction. They will need two-year business experience and introduction letter from BACCO. The companies can apply for loan from the comfort of their office or home as Prime Bank has assigned dedicated Relationship Manager for exclusive service for valued BACCO members.