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Startups Borrow $105m From BIM

EghtesadOnline: The Bank of Industry and Mine (BIM) said it funded some 210 knowledge-based companies and startups in the country since last year.

The Bank of Industry and Mine (BIM) said it funded some 210 knowledge-based companies and startups in the country since last year.

According to a press release posted on the BIM website, the lender paid more than 46 trillion rials ($105 million) to the knowledge based firms.

The loans went largely to meet working capital need and support companies producing exportable goods. Startups with higher job opportunities, indigenizing technologies and offering effective tech solutions were prioritized by the bank .

BIM startup