Dhaka-based Dana Fintech has teamed up with Merchant Bay, a fashion sourcing firm, to enable embedded digital lending for small and medium enterprises (SMEs) in Bangladesh’s readymade garments (RMG) sector. Merchant Bay will use Dana Fintech’s embedded lending engine to generate business credit scores of small and medium readymade garment factories on its platform. It will enable SMEs in the readymade garments sector to access digital SME loans and other financing facilities through partner banks. Thus, the tie-up between Dana Fintech and Merchant Bay will bring SME RMG factories under digital financial inclusion by blending data-driven insights and digital lending capabilities.
