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Revolving fund loan scheme of Tea Development Project

This loan scheme is relevant to all subsidy scheme operated by Tea Small Holdings Development Authority except tea new planting subsidy scheme.

The way how the Revolving Fund Loan Scheme of the Tea Development Project differ from normal subsidy schemes

Note: This scheme is not implemented in 2009.

.	Subsidy Scheme	Revolving fund loan scheme of Tea Development Project
Applications	Should be submitted to the TSHDA	Should be submitted to the TSHDA
Recommendation for loan/subsidy amount	Tea Small Holdings Development Authority	Tea Small Holdings Development Authority
Field inspections	Will be carried out by Tea Inspector Extension Officers of the TSHDA	Will be carried out by Tea Inspector Extension Officers of the TSHDA
Recommendations for payment of instalments	Tea Small Holdings Development Authority	Tea Small Holdings Development Authority
Institution paying the instalment	Tea Small Holdings Development Authority	Relevant financing institution
Whether subsidy or loan	Subsidy	Loan
Interest	None	9%
Subsidy	Total amount	50% of the interest will be paid by the TSHDA only for tea replanting if work is completed within the validity period of the permit

Eligibility

Be a citizen of Sri Lanka
Be a sole or joint owner, registered company or a Tea Smallholder Development Society registered with the Tea Small Holdings Development Authority
Not be a defaulter to a financial institution
Be a person capable to provide collateral required by the lending institution
Confirming the repayment ability of the loan

Places where applications could be obtained
Bank loan applications - Head office, all Regional offices, Te Inspector extension officers’ offices and sub offices on Wednesdays

Times of submission
Paper notices will be published for each year

Fess payable to obtain the service
Payments stipulated by relevant financing institutions

Time taken to obtain the service (Normal services and priority services)
Recommendation for the loan will be given by the authority in two weeks after submission of applications

Required confirmation documents
Credit bonds and other documents requested by the lending institution

Staff officers in charge of the service

Designation

Name

Division

Telephone

Fax

e-mail

Head Office

Deputy General Manager (Development)

Mr.M.B.Cyril

Development