What is New People's Fast ?

New People's Fast is a brand for Micro finance loan product. It provides financial assistance for :

• All business needs of micro, small and medium entrepreneurs
• With relax collaterals
• With speed loan disbursements

Business Areas	Sectors
To startup of enterprise / business	Agriculture, Agro based industries, Industries, Self employment Cottage industry, Trade, Services
To improve existing enterprise / business
To expand your enterprise / business

Enterprises to be considered under this loan schemes.

Eligibility criteria of this loan

• Person with required skills
• Engage in a profitable business (Agriculture, Animal husbandry, Industrial, cottage, Industry Trade, Service)
• Permanent resident of bank branch area

Maximum Loan limit

• Micro                           - Rs. 500,000
• Small                          - Rs. 1,000,000
• Medium                       - Rs. 5,000,000

Interest rate

• Negotiable

Non financial services for customers
People's Bank provides non financial services with identified service providers on Skill Development, Business Management, Business Planning, Entrepreneurship Development, Tax Planning etc.

 

Poverty Alleviation Micro Finance Project (Revolving Fund ) refinanced by Central Bank of Sri Lanka (PAMP(RF) - CBSL)

Business Areas	Sectors
To startup of enterprise / business	Agriculture, Agro based industries, Industries, Self employment Cottage industry, Trade, Services
To improve existing enterprise / business
To expand your enterprise / business

Operating regions
All Island

Maximum loan amount
Maximum loan amount Rs.50,000/- per borrower / beneficiary

Rate of interest
Negotiable

Repayment period
Three years depending on the cash flow of your business

Securities
Two personal guarantees or collective guarantees of the group or any other security acceptable to the bank.

 

Poverty Alleviation Small Enterprise Development Loan Scheme Refinance by National Development Trust Fund

Business Areas	Sectors
To startup of enterprise / business	Agriculture, Agro based industries, Industries, Self employment Cottage industry, Trade, Services
To improve existing enterprise / business
To expand your enterprise / business

Operating regions
All Island

Maximum loan amount
Maximum loan amount Rs.75,000/- per borrower / beneficiary

Rate of interest
Negotiable

Repayment period
Three years depending on the cash flow of your business

Securities
Two personal guarantees or collective guarantees of the group or any other security acceptable to the bank

 

Vidatha Loan Scheme (Technology to the Village)

Provide credit facilities to entrepreneurs who are being trained and introduced by the Vidatha Resource Centers by the Ministry of Science and Technology.

Objective

• To up-lift the economic level of the rural peoples.
• To make arrangement to exhibit to the country the creativeness and skills of rural people and to utilize their resourcefulness for the country is benefit.
• To ensure with quality of the product from the village reaching the market and thereby to ensure a stable income for rural folk.

Target Group

Entrepreneurs who are being trained and recommended by the Vidatha Resource Centers / Vidath societies and whose enterprises are found to be commercially, technically and financially feasible. Applicant should be trained and recommended by the Vidatha Resource Center and member of a Vidatha Co-opereatives.

Business Areas	Sectors
To expand and improve your enterprise / business	Agriculture, Agro based industries, Industries, Self employment Cottage industry, Trade, Services

Operating regions
All Island

Maximum loan amount
Maximum loan amount Rs.50,000/-  per borrower / beneficiary

Rate of interest
Negotiable

Repayment period
Three years depending on the cash flow of your business

Securities
Two personal guarantees or collective guarantees of the group or any other security acceptable to the bank

 

“Vanitha Navodya” Loan Scheme – Under the Sponsorship of the Ministry of Child Development and Women’s Empowerment and Financial contribution from the United Nations Development Fund for Women (UNIFEM)

Target Group

• The Women faced with economic difficulties due to natural disasters (As flood, land slides, typhoons, hurricanes etc.,)
• Due to the War – like situation prevailing in certain areas.

Eligibility to be considered

• Women engaged in commercially viable economic activities.
• Women engaged in manual labor in diverse economic activities in the informal sector.
• Women with formal training in a Vocational Training Institution awaiting / expecting to commence an industry.
• The applicant should be recommended by Women Development Officer in the Divisional secretariat of the service of the Ministry of Child Development and Women’s Empowerment.

Operating regions
All Island

Maximum loan amount
Maximum loan amount Rs.100,000/-  per borrower / beneficiary

Rate of interest
8% per annum

Repayment period
Maximum 24 months ( Including 3 month grace period )

Securities
Receipt signed by the applicant is enough as security.

Classification Of Enterprises / Projects For Microfinanace

• Agricultural Production
  • Horticulture
  • Nurseries of plants
  • Orchid & Anthurium
  • Roses
  • Cut flowers
  • Vegetable growing
  • Mushroom cultivation
  • Organic farming
• Food Processing, Beverage and tobacco
  • Rice Milling
  • Confectionary
  • Grinding Mill
  • Fruit juice & soft drinks
  • Tobacco products
  • Bakery products
  • Meat / Fish processing
  • Milk products
  • Coconut products
  • Food processing
  • Cashew processing
  • Others
• Textiles & Garments
  • Knitted Material
  • Batiks
  • Handlooms
  • Power looms
  • Textiles printing
  • Tailoring
  • Others
• Metal Products
  • Motor spares
  • Brassware
  • Silver ware
  • Galvanized iron products
  • Aluminium products
  • Light engineering
  • Machinery & equipment
  • Electrical goods & fittings
  • Jewellery
  • Metal toys
  • Metal products
  • Others
• Construction Materials
  • Bricks
  • Metal crushing
  • Cement blocks
  • Concrete post
  • Construction material
  • Sand, lime, kobok, granite, etc
  • Others
• Wood Products
  • Wood carving
  • Furniture manufacturing
  • Saw milling
  • Wooden toys
  • Carpentry
  • Masks, key tags, ornamental items etc
• Leather & Allied products
  • Foot wear
  • Belts, leather bags, purses, valet
  • Other
• Printing & Stationary items
  • Envelopes
  • Paper bags
  • Papers
  • Pencils etc
• Chemical products
  • Paints
  • Soap
  • Agro Chemicals
  • Sprits
• Agro-based industries
  • Fiber products
  • Essential oil
  • Coire products
  • Products of coconut sticks
  • Mat weaving
  • Brooms etc
• Fisheries
  • Inland fisheries
  • Ornamental fisheries
  • Aquarium
• Animal husbandry
  • Poultry
  • Piggery
  • Bee keeping
  • Silk worm
  • Love birds
  • Butterflies
• Services
  • Repair
  • Computer software development
  • Veterinary services
  • Day care services for children and adults
  • Entertainment industries
  • Beauty parlours
  • Hair dressing units
  • Funeral undertakers
  • Hotels & catering services
  • Secretarial services
  • Video services
  • Educational matters – private tuition
  • Studios, colour labs & film processing
• Others
  • Pottery
  • Glass products
  • Lapidary
• Retail Trading
  • Grocery
  • Boutique
  • Small vendor