DEVELOPMENT BANKING
Self Employment Promotion Initiative Loan Scheme (SEPI)

    The Loan Scheme for the Improvement of the Self - Employed has been introduced with the intention of empowering the Sri Lankan Government is development drive to improve the lot of the self - employed.

  • To Whom

    • Trained youth who passed out from recognized vocational training institution in the country for establishment of their own self employment projects.

  • Other Requirements
    • Applicant should be a Sri Lankan national.
    • Applicant should not be a defaulter or a guarantor of the defaulted facility at any financial institution.
    • Should be between the ages of 18 to 55 years.
    • Should have completed a competency - based training programme (CBT), skill development programme or an entrepreneurship course under a reputed recognized vocational training institute registered under MVTT.
    • Should have a suitable location for the proposed enterprise.
    • Should be able to submit a basic business plan for review and approval of the bank.
    • Preference will be given to trained women to receive funds from SEPI Loan Scheme.
  • Loan Amount

    • Maximum per person is Rs. 250,000/-

  • Repayment Period

    • Should be between 12 to 48 months inclusive of grace period of one year. (Interest will be charged during the grace period monthly)

  • Securities
  • Two personal guarantors acceptable to the Bank or (one could be the spouse or a parent and the other guarantor should be a person with adequate fixed income)
  • Mortgage over immovable property or
  • The two personal guarantors acceptable to the Bank with mortgage over movable property or
  • Should obtain a mortgage over movable or immovable property or any other security acceptable to the Bank

For Further details Please contact
Mrs. K,P.S.Weerasingha
Tel. 0112 481348
Fax 0112 330083
E mail : devfin@peoplesbank.lk