BRAC Bank recently organised an entrepreneur conference of its SME Digital Loan ‘Shafollo’ in Gazipur to showcase the country’s first SME digital loan programme, a press release said.
The engagement, that brought together more than 200 small and medium business owners, reinforces the bank’s commitment to fast, transparent, and paperless lending.
The gathering of smallholder entrepreneurs marked a significant milestone in advancing digital financial inclusion in the country. It aimed to raise public awareness about digital lending solutions that simplify access to finance for smallholder traders and retail shopkeepers. It was organized with the support of the Gates Foundation.
A key highlight of the programme was a live demonstration of the ‘Shafollo’ Digital Loan programme, where a loan was processed and credited to a customer’s account in real time. The demonstration illustrated the speed, efficiency, and transparency of the fully digital lending process, underscoring BRAC Bank’s pioneering role in introducing digital SME lending in Bangladesh.
The gathering also provided a platform for direct engagement with borrowers. Feedback collected from participating entrepreneurs will be used to further enhance customer convenience and ensure the digital loan journey delivers maximum value. Entrepreneurs attending the event acknowledged that BRAC Bank’s digital innovation is enabling faster access to finance and supporting sustainable economic growth, particularly at the grassroots level.
Speaking at the event, Syed Abdul Momen, Additional Managing Director and Head of SME Banking at BRAC Bank, said that financial inclusion remains a core pillar of the bank’s strategy, alongside digital transformation. He noted that eligible SME entrepreneurs are now receiving ‘Shafollo’ loans within minutes of submitting their applications.
This entrepreneur meet is planned to scale innovative solutions and strengthen the bank’s leadership in SME banking.
Senior officials from BRAC Bank’s SME Division also participated in the discussion, alongside Md. Ashraful Alam Bachchu, owner of Rahat Corporation and a distributor of Unilever Bangladesh in Gazipur, engaging in an open exchange of views with the entrepreneurs.
BRAC Bank’s ‘Shafollo’ digital financing programme is expanding access to formal credit for underserved segments by offering fast, collateral-free loans with minimal documentation. Designed to address long-standing credit barriers faced by small traders and rural entrepreneurs, the programme provides loans ranging from BDT 10,000 to BDT 5 lakh.
Using AI-based credit scoring, customer eligibility is assessed digitally, and once approved, funds are disbursed directly to the borrower’s account. The entire process – from application and verification to disbursement – is fully digitised, transforming loan access into a seamless experience completed within minutes.
