PriyoShop retailers to get better access to NRB Bank loans

Nearly 250,000 retailers connected to PriyoShop’s digital commerce network are set to gain better access to formal loans as the platform partners with NRB Bank PLC to expand financing for small businesses.
The partnership will use PriyoShop’s transaction records, including orders, deliveries and payments, to help merchants build credit profiles and qualify for bank financing.
Eligible retailers and distributors will have access to collateral-free embedded credit and revolving working capital facilities, subject to the bank’s lending policies, according to a press release. 
The partners also plan to introduce co-branded SME credit cards with flexible repayment options, alongside supply chain and invoice financing for distributors, suppliers and regional hub operators.
The initiative will extend to logistics and delivery workers through payroll and prepaid cards. Bangla QR payments and proposed agent banking services will also help bring digital transactions and formal financial services closer to small businesses.
“Bangladesh does not have a shortage of entrepreneurial merchants; the challenge is connecting their everyday commerce with the formal financial system,” said Asikul Alam Khan, managing director and CEO of PriyoShop.
He said digital transaction and repayment records could help merchants establish financial identities and gain sustainable access to finance.
Kimiwa Saddat, additional managing director and chief business officer of NRB Bank, said the partnership would combine embedded commerce with regulated financial services while maintaining sound credit and risk management standards.
Senior officials of both organisations recently signed the agreement in Dhaka, with all services subject to Bangladesh Bank regulations and the bank’s policies.