MD ABDUL MALEK (A SUCCESSFUL ENTREPRENEUR)
Bangladesh is a developing country and has been trying to improve overall economic activities. Basically, SME loan is disbursed for the development of small business organization assists them who are shortages of working capital. SME loan becomes attractive in some countries. It brings problems to some entrepreneur simultaneously may become a burden to them if cannot be used properly. It becomes a great opportunity for the success of any businessman.
Abdul Malek a small entrepreneur, who is a simple furniture maker also having a small furniture-making shop named Malek Furniture but lack sufficient funds he cannot take any orders from buyers. He went to many banks and financial institutions in order to get a loan. Neither the banks nor any financial institution agreed to give him any loan. He would not maintain any bank account at all. But one day he has come to an NGO to take a loan from them being an illiterate person banks did not give him a loan. In addition to that he had no collateral to give as security; so he cannot go to any banks. Moreover he is illiterate also. Rules and regulations of the NGO can issue him a loan but he needs to bring a person who bears Government service. He wanted assistantship of the NGO's program organizer. Both of them tried to search for a Government service holder, at last, they have got who agreed to become a personal guarantor of Mr. Malek. Then he applied for a short term loan and within a short period of time the NGO approved his loan of BDT tk 100000/ as simple interest and the installment would be TK.6500 for eighteen months. Another person also went to the NGO to take the loan who was engaged in the wood business. Mr. Malek bought wood at a reasonable price with the assistance ship of the NGO worker who played the role of the bridge between them. He also requested him not to take more loans, at the same time prevented him from taking more loans. Mr Malek took all the orders as he could do and delivered within the fixed period with good quality of wood. All the buyers became satisfied and gave him many orders. The NGO worker would visit him frequently and suggest him in all respect regarding business. He missed no installment and paid the full amount in due time. next time he was given just double amount, at this the has paid the full amount in due time Thus he became a model of that NGO. At present he has established three shops and has become self-dependent and rich.
From the above discussion it can be said that it is just like nursing of a sick person. For instance a sick person cannot move without the help of others like that if the delivered loan can be nursing properly so that the borrower can utilize the loan money properly. As a result the entrepreneurs are sure to succeed. Information should be supplied to them regarding any business matter essential for the development of the business.
Abdul Malek a small entrepreneur, who is a simple furniture maker also having a small furniture-making shop named Malek Furniture but lack sufficient funds he cannot take any orders from buyers. He went to many banks and financial institutions in order to get a loan. Neither the banks nor any financial institution agreed to give him any loan. He would not maintain any bank account at all. But one day he has come to an NGO to take a loan from them being an illiterate person banks did not give him a loan. In addition to that he had no collateral to give as security; so he cannot go to any banks. Moreover he is illiterate also. Rules and regulations of the NGO can issue him a loan but he needs to bring a person who bears Government service. He wanted assistantship of the NGO's program organizer. Both of them tried to search for a Government service holder, at last, they have got who agreed to become a personal guarantor of Mr. Malek. Then he applied for a short term loan and within a short period of time the NGO approved his loan of BDT tk 100000/ as simple interest and the installment would be TK.6500 for eighteen months. Another person also went to the NGO to take the loan who was engaged in the wood business. Mr. Malek bought wood at a reasonable price with the assistance ship of the NGO worker who played the role of the bridge between them. He also requested him not to take more loans, at the same time prevented him from taking more loans. Mr Malek took all the orders as he could do and delivered within the fixed period with good quality of wood. All the buyers became satisfied and gave him many orders. The NGO worker would visit him frequently and suggest him in all respect regarding business. He missed no installment and paid the full amount in due time. next time he was given just double amount, at this the has paid the full amount in due time Thus he became a model of that NGO. At present he has established three shops and has become self-dependent and rich.
From the above discussion it can be said that it is just like nursing of a sick person. For instance a sick person cannot move without the help of others like that if the delivered loan can be nursing properly so that the borrower can utilize the loan money properly. As a result the entrepreneurs are sure to succeed. Information should be supplied to them regarding any business matter essential for the development of the business.
It is a practical incident of an entrepreneur who has become a successful businessman by using loan money properly.
