PriyoShop has signed a partnership with NRB Bank PLC to provide formal loans and digital financial services to small retailers, distributors and suppliers. The platform connects nearly 250,000 retailers.
The partnership links PriyoShop’s retail network with NRB Bank’s credit services. It uses PriyoShop’s digital order history to help small businesses qualify for credit. This addresses a lack of working capital and weak financial records, said a press release on Monday.
Eligible retailers and distributors will receive financing from NRB Bank. This includes collateral-free credit built into the PriyoShop platform. It also includes revolving working-capital facilities. All products will follow NRB Bank’s lending policies.
The partners plan to launch co-branded SME business credit cards. Distributors and suppliers will get supply-chain and invoice financing. Field logistics staff and delivery personnel will receive payroll and prepaid cards.
Bangla QR will help merchants record digital transactions. The partners are exploring agent banking to bring account opening and cash management to the merchant network. This is subject to regulatory approval.
