|
| Loan Scheme |
| |
1. Objectives of the loan scheme.
The objective of this loan scheme is to enhance living standard of low income people living in Monaragala, Kandy, Nuwara Elliya, and Kagalle areas in which this program is to be implemented. |
| |
2. Eligible Projects
|
| |
2.1 Agriculture and allied activities including Tea and Rubber based industries.
2.2 Small industries operated by farmer organizations
2.3 Self employment activities.
2.4 Other Income Generating Activities (IGAs)
- Livestock
- Garments
- Small trading
- Handicrafts
Any other Income generation activities |
| |
3. Project Areas |
| |
The Project will be implemented in the districts of Kandy, Kegalle, Nuwara Eliya and Moneragala.
Mid-Country Sub - programme Areas
DS Division District
- Kotmale Nuwara Eliya
- Doluwa
- Udapalatha Kandy
- Gangaihalakorale
- Bulathkohupitiya
- Aranayaka Kegalle
Moneragala Sub - programme Areas
DS Division District
- Madulla
- Monaragala
- Badaklumbura Monaragala
- Medagama
- Bibila
- Wellawaya
|
| |
4. Project Period
- Commencement - 1st August 2009
- Termination - 31st December 2014
However, the operations will come to an end with the full utilization of the allocation for credit component. |
| |
5. Quantum of Loan |
5.1 Small farmers - Rs.250,000
5.2 Grass root level institutions - Rs. 2 million
(Village Rubber Development Clusters and Farmer Groups)
5.3 Factories & Processing centers recommended by the SPMU - Rs.5 million |
| |
6. Repayment Period
|
6.1 Maximum repayment period including maximum one-year grace period is 5 years
6.2 Grace period should be determined according to the nature of the project.
6.3 During the grace Period, interest should be charged. |
| |
07. Interest Rate
7.1. 9% p.a |
| |
08. Securities |
8.1 Two personal guarantors acceptable to the Bank - One of the guarantors may be the spouse or a parent and the other Guarantor should be a person with a suitable income.
8.2 Group guarantee of the members
8.3 Mortgage over an immovable or movable property - or any securities acceptable to the Bank . |
| |
| |
| |
