DEVELOPMENT BANKING
Prosperity Loan Scheme

Introduction

    It is expected to provide funds for agriculture, livestock farming, micro small and medium scale entrepreneurs and micro small and medium scale entrepreneurs affected by disaster under the prosperity loan scheme introduced by the Central Bank of Sri Lanka.

  • PROJECT AREA

All districts in the Island



  • Implementation date of the loans Scheme

    • 2010 March 22

  • Eligibility of the applicant

    • Applicant should be a citizen in Sri Lanka.
    • Applicant should be a person within the age group of 18-55 residing permanently within the project area.
    • Applicant should not be a defaulted borrower or a guarantor of a defaulted loan previously obtained from any financial or non financial institutions.
    • Customers to be considered under the above loan scheme should be people who conduct their business activities in conformity with the laws and regulations and environmental rules and regulations prevailing and in force in Sri Lanka.
    • At least 15 percent of estimated sub project cost shall be provided by the borrower as equity in cash or in kind
    • Borrower should be able to satisfy the Bank that the proposed project has a sound cash flow and a good repayment capacity.
    • Borrower should be able to provide collateral if any, as determined by the Bank

  • Total Portfolio

    • Rs.500 Mn

  • Maximum Loan Amount

    • Agriculture, livestock, other micro, small and medium scale enterprises - Rs.25, 000,000/-
    • Micro, small and medium scale enterprises affected by disaster - Rs. 20 Mn

  • Repayment Period

    • 60 months including grace period of 6 months.(Interest should be charged during the grace period )

  • Securities

    • Two personal Guarantors acceptable to the Bank
    • Mortgage over immovable or movable property Securities acceptable to the Bank