MTB, TallyKhata launch digital loan for small businesses

Business Desk :
The Mutual Trust Bank Ltd on Tuesday launched Bangladesh’s first digital loan product for small businesses in collaboration with TallyKhata.
Small businesses can now apply for working capital loans using a simple app and the loan may be approved by the MTB in less than half an hour, according to a press release. Bangladesh Bank Executive Director Md Khurshid Alam inaugurated the MTB TallyKhata Digital Loan product as the chief guest at a hotel in Dhaka.
Syed Mahbubur Rahman, managing director (MD) and chief executive officer (CEO) of MTB, Shahadat Khan, founder and CEO of TallyKhata, Soumya Basu, Visa country manager and Muhammad Nazeem Hassan Satter, general manager of SME Foundation, among others, were present at the event.
In his speech, Khurshid Alam said, “MTB TallyKhata Digital Loan is a milestone for CMSME financing in Bangladesh. Bangladesh Bank always appreciates collaboration between banks and fintechs to introduce innovative services for small businesses in the country.
“We hope this product will help businesses to grow in impact on the national economy and employment generation.”
Mahbubur Rahman said, “We are very happy to launch MTB TallyKhata Digital Loan – the first end-to-end digital loan for small businesses in the country. Digital business profile and transaction data in TallyKhata platform help us in receiving loan applications and assessing the credit risk for quick lending decisions. “We believe data-driven digital lending will play a significant role in addressing the small business financing problem in both rural and urban areas.”