DEVELOPMENT BANKING
Sabaragamuwa Province Integrated Rural Development Project (SPIRDP) Credit Scheme - Phase II
  • OBJECTIVES
    • Creation of income generating new Projects in order to uplift the living standards of the people living in the Districts of Kegalle and Ratnapura.
    • Increase of income levels by expansion of already existing micro scale production and investment units.
    • Creation of employment opportunities for the unemployed youth in the two Districts. (Priority shall be given to the youth in selecting beneficiaries under the scheme.)
  • Project Area

    • Area coming under the administrative Districts of Kegalle and Ratnapura.

  • Elgibility Criteria
    • Should be a person aged between 18-55 years and residing permanently in the project area.
    • The Applicant should be a person either engaged in a productive project or expecting to be engaged in a productive project, as only feasible projects will be financed under the scheme.
    • Should participate in a special savings programme to be implemented by the Bank during the tenure of this loan scheme.
    • Should not be a defaulter of any previous loans obtained from any financial institutions.
    • If the loan is for an existing micro enterprise, the assets of the project should be worth more than the liabilities.(positive net worth)
    • Priority should be given to youth with proven capabilities and vocational training.
    • Project to be financed should generate sufficient surpluses for the applicant after repayment of loan installments and interest.
  • Eligible Projects

    • Such Projects should further satisfy the following basic qualifications as well.

    • Value of total assets should not exceed Rs. 1 Million in case of an already existing project.
    • Value of total assets should not exceed Rupees Five hundred thousand (Rs.500,000/=) in case of a start up new project.
    • Should be labour intensive projects that can bring about new products and broad avenues of income.
    • Should be a project which mostly uses local raw materials.
    • Market facilities should be available for the end-product.
  • Eligible Projects

    • Papadam Manufacture Joss Sticks Manufacture Paddy Mill (Mini)
    Grinding Machines (Mini) Smoked Fish Sugar Cane Syrup
    Sugar / Juggary Manufacture Manioc Floor Manufacture of Pickles and Sauces
    Cashew Husk Juice Bees Wax and Bees Honey Banana Yarn
    Preparation of Tamarind Baking Powder Handloom Textiles
    Handloom Workshop Coir Hand Coir Strands
    Coir Rope Large (Hand) Coir Rope Carpets Sports Goods (Leather)
    Carpentry Workshop (Hand Operated) Sawing Of Timber (Semi Mechanical) Rubberized Coir Mattresses
    Manufacture of Rubber Sheets Pottery (Semi Mechanical) Metal Crushing (Hand)
    Roofing Material (Tile) Brick Manufacture (Hand) Manufacture of Cement Bricks
    Washing Soap Black Smithy (Hand) Repair of Hardware
    Manufacture of Hardware Cutting and Polishing of gems Braso Product
    Manufacture of Treacle / Kitul jaggary Manufacture of Native Drugs Manufacture of Sweet Meats
    Manufacture of Straw Bags/Mats Manufacture of brooms Ekel brooms Manufacture of Cane Furniture
    Manufacture of Paper Bags / Envelopes Bakery Product Light Engineering
    Plastic Sign Boards / Screen Printing Other  



    Such Projects should further satisfy the following basic qualifications as well.

    • Value of total assets should not exceed Rs. 1 Million in case of an already existing project.
    • Value of total assets should not exceed Rupees Five hundred thousand (Rs.500,000/=) in case of a start up new project.
    • Should be labour intensive projects that can bring about new products and broad avenues of income.
    • Should be a project which mostly uses local raw materials.
    • Market facilities should be available for the end-product.
  • Loan Amount
    • The maximum loan amount is Rs. 250,000/=.
  • Repayment Period
    • Maximum repayment period is four (04) years.
  • Grace Period
    • Maximum grace period is twelve (12) months
  • SECURITIES
    • Two personal guarantees acceptable to the Bank.
    • Mortgage over an immovable or movable property.
    • Other Securities acceptable to the Bank