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A Loan scheme designed to help small and medium scale entrepreneurs at concessionary rates and terms. Loan could be obtained to start a new project or expansion of an existing business, acquiring advance technology and construction of factory buildings, laboratories, purchasing machinery and equipments for industries and obtaining professional services for specific projects.
- To be the catalyst of rural economic resurgence which would eventually alleviate poverty, reduce regional income distribution parity and increase employment.
- To deliver development financing facilities to encourage new viable enterprises and to expand the existing enterprises up to the international level.
Small and Medium Scale entrepreneurs.
Eligible Loan Sectors and Sub sectors
|Sector||Sub – Sector|
|Agriculture & Agro based industries||Fisheries|
|Coconut based products|
|Other Agricultural Products|
|Manufacturing / Industries||Apparel|
|Furniture and wood products|
|Leather / rubber products & Footwear|
|Steel and metal|
|Chemicals and minerals|
|Engineering and Technology|
|Printing and Publishing|
|Food & beverages|
|Electrical & Electronic|
|Services||Health & Educational Services|
|Finance & business|
|Tourism & hotels|
Eligible Loan Categories
Credit facilities will be given for following purposes within the above sub sectors
- Purchase of equipment, plant & machinery and heavy vehicles for the specific projects
- Construction of factory building, laboratories, hotel complex and related construction for specific projects.
- Installation of machinery / equipment.
- Acquiring advanced technology.
- Obtaining professional’s / expert’s services for specific projects.
- Priority is given to the projects outside western province
- The project should be based on local production and it should generate employment opportunities to the people of the area.
- The proposed project should help in the growth of the GDP
- At least 30% of the cost of the project should born by the customer
- The maximum loan amount for a project is Rs. 20 Mn
Up to a maximum of 5 to 7 years
Maximum Rs. 20 Million
Nature of the security will be decided by the bank considering the risk element of the business