Designed to finance individual and corporate entrepreneurs to continue or improve their businesses. Business Development Loans for Individual and Corporate Clients (micro, small, medium, and corporate entrepreneurs)
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Introduction
This product offers financial assistance for Micro, Small & Medium Enterprises to achieve their growth potential. This facility has been made available to Banks by the CBSL Monetary Law Act Order No. 02 of 2021 to provide financial solutions in line with the current market trends.
Purpose
This product has been designed to finance individual and corporate entrepreneurs (who have been in business for a minimum of one year) to continue or improve their businesses.
Eligibility
- Individuals, Sole Proprietors, Partnerships and Private Limited Liability Companies presently engaged in industrial and agricultural, including below sectors /sub-sectors.
- The applicant should be over 18 years old and be eligible to agree with the bank to be the owner of a business and have a business place of their own or in rented out/leased premises.
- New business/project start-ups or diversification proposals are eligible to apply for financing when the proposed start-up business is a fully owned subsidiary of an existing Group owned by the same shareholders or managed by the same directors. The group entity should operate for at least three years.
