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
Objectives
To deliver development financing facilities to encourage new viable enterprises and to expand the existing enterprises up to the international level.
To whom
Micro, Small and Medium scale entrepreneurs.
Eligible Loan Sectors and Sub Sectors
Agriculture & Agro based industries
Fisheries
Coconut based products
Paddy Mill
Dairy Farming
Other Agricultural Products
Other
.
.
�Manufacturing / Industries
Apparel
Furniture and wood products
Leather / rubber products & Footwear
Plastic
Steel and metal
Chemicals and minerals
Engineering and Technology
Printing and Publishing
Food & beverages
Electrical & Electronic
Power Generation
Other
.
�Services
Health & Educational Services
Finance & business
Tourism & hotels
Other Services
Infrastructure Development
�Hydro
�Mini Hydro
�Road Construction
�Building Construction
�Other
Priority Areas
Priority would be given for following sub sectors.
Perennial Crops
Dairy farming
Fisheries
Agro base industries
Other agricultural crops
Technology inputs
Whilst entertaining credit facilities for the development activities within the above sub sectors, priority would be given for the following categories and projects outside the western province.
Export Orientation
Import substitution
Value addition using local raw material
Employment generation
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.
Self employment under micro financing.
General Criteria
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 be borne by the customer.
The maximum loan amount for a project is Rs.30.0Mn.
The applicant should not be a defaulter from any other bank.
Documents Required
Project Report
Completed Loan Application form
If secured by Personal Guarantees, Statement of Guarantors and the income details of the guarantors
If secured by immovable property, copy of the Deed, survey plan, and street line & non vesting certificates are to be submitted upon request.
If and when required, license from regulatory authorities are required.
Time taken to grant the Loan
Depending on the project, collateral, and the size of the loan the time may Vary.
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