The prime objective of the Micro-Enterprise Program isto help and support micro-projects to improve their business, to expand in the market and to establish a successful position in the industry. MEF extends financing to such micro-projects in various sectors, which fulfill the eligibility criteria of the Bank.Under this program, financial support is available for working capital to expand the business and for purchasing fixed assets, which will be used to improve and increase the production.
Under the program, extensive support and resources are also made available to provide the client the following services if necessary:
- Formulate a proper strategy for the clients business if necessary.
- Help to create a business and marketing plan if required.
- Monitor the business performance on monthly basis to evaluate the performance of the business.
- Ensure that the business is maintaining a proper accounting report.
- Ensure proper utilization of the finance amount.
The terms of financing under MEF are:
- Duration: from 6 months to 36 months
- Financing limit: from BD3000 to BD7000
- Terms of repayments: Monthly basis