The State Mortgage and Investment Bank (SMIB) is one of the most established
financial institutions in Sri Lanka.

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Business Development Loans for Individual and Corporate Clients (micro, small, medium, and corporate entrepreneurs)


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.


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.


  • 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.

Mode of Repayment

Instalments should be paid by the borrower to settle the loan capital and interest through their savings account at SMIB during the loan tenure. The instalment type can be designed as per the project/business's cash flow.

  • Equal monthly instalments (EMI).
  • Bullet re-payments.
  • Quarterly Instalments (Equated/Equal).
  • Semi-annual instalments (Equated/Equal).
  • Interest is paid monthly, and capital is repaid at the end of tenure/specific period.

For example, the mode of repayment can be decided as per the nature of cash flow such as EMI/Quarter/Semiannual instalments that might be applied for agriculture, manufacturing, construction, purchase of fixed assets, working capital facilities, etc. Bullet re-payments might be applied for property development facilities, order-specific financing, etc., where interest is serviced monthly and capital repayment at the end of tenure/specific period, based on the cash flow derived from the project/order.

Conditions apply
For more information, visit our nearest SMIB Branch or Contact Us via our Call Centre at 1922

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