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We are passionate about being responsible and leading social change through our banking products and the way we do business. Our primary objective is to work towards ensuring that all Sri Lankans have access to affordable financial products and services to help them grow. We are good with finances, but we are even better with "People", our SME loan schemes are designed to provide our customers with financial assistance to make things easier.

Small and Medium Enterprises Development (SMED) Scheme (Loans, STLs, Letter of Credit Facilities, PODs)
  • Operational Regions
    All-Regions
  • Eligibility criteria
    Business activities of small and medium scale enterprises. Businesses having an annual turnover of Rs. 15 Million to Rs. 750 Million and Business startups with equity investment Rs1.0 Million to Rs. 5.0 Million.
  • Areas for which credit is provided
    Investments and working capital requirements will be funded for following projects/ Businesses:
  • Agriculture
  • Agri-oriented Projects/Businesses
  • Industrial Businesses
  • Trading Businesses
  • Milk and Dairy Related Projects
  • Livestock
  • Ornamental Fish
  • Fisheries Industry
  • Information Technology
  • Apparel Industry
  • Tourism and Hotel Projects
  • Construction of Buildings
  • Printing
  • Educational
  • Service Provisions
  • Export and import Businesses
  • Health Services
  • Any other economic activities
  • Facilities for settlement of Credit Facilities in other Banks and Financial Institutions
  • SMED Loans
  • Interest Rate
    • Manufacturing & Services –Weekly AWPLR +2.5% p.a
    • Trading - Weekly AWPLR +3.5% p.a
  • Maximum Amount
    On the need basis upon evaluation.
  • Repayment Period
    Maximum10 years, including a maximum grace period of 24 months. (if required).
  • Securities
    Guarantees, Mortgage over a movable or immovable property or any other security acceptable to the bank.
  • SMED Short term loans
  • Interest Rate
    • Manufacturing & Services –Weekly AWPLR +2.5% p.a.
    • Trading - Weekly AWPLR +3.5% p.a.
  • Maximum Amount
    On the need basis upon evaluation
  • Repayment Period
    Up to 365 days
  • SMED Letter of Credit Facilities
  • Maximum Amount
    The maximum amount will be decided based on working capital requirement.
  • Securities
    Any security acceptable to the bank.
  • SMED Permanent Over Drafts
  • Interest Rate
    • Manufacturing & Services –Weekly AWPLR +2.5% p.a
    • Trading - Weekly AWPLR +3.5% p.a
  • Maximum Amount
    The maximum amount will be decided based on working capital requirement.
  • Repayment Period
  • POD facilities less than Rs. 5.0 Mn valid for three years (3 Years) subject to an annual review.
  • All facilities above or equal Rs. 5.0 Mn should be valid for 365 days (1 Year) subject to an annual review.
Small and Medium- Sized Enterprises Line of Credit Project- (SMELoC Revolving Fund)
  • Operational Regions
    All-Regions
  • Interest Rate
    For Working Capital – 11.60% to 12.54%
    For Investment loans – 11.60% to 12.04%
  • Maximum and Minimum Amount
    • Maximum of Rs.50.0 Mn.
    • A single borrower may avail multiple loans, but the gross principle of those loans is capped at Rs.50.0Mn
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.
  • Eligibility criteria
  • The enterprises must be registered. Applicants who have not formally registered may qualify to obtain loans if they can submit evidence that its business registration application has been accepted by the Department of the Registrar of Companies or local government authority.
  • Borrowers must be economically and financially viable.
  • Borrowers may not be related parties of the Bank’s Board or senior management.
  • Borrowers (the parent company and any subsidiaries) must have annual turnover under Rs. 750.0 Mn and less than 300 employees if in the manufacturing sector or less than 200 employees if in the service industry.
  • Repayment Period
  • Investment Loan – repayment period considered maximum up to year 2028
  • Loans granted for purchasing of machinery, equipment, and furniture, repayment period should be restricted to a maximum up to the use of lifetime of the machinery, equipment, and furniture.
  • Working Capital Loan - maximum two years. No grace period could be considered.
  • The maximum grace period will be two years. (Only for the investment loans with tenure over three (3 years.)
  • Areas for Which Credit is approved

Enterprises with turnover below Rs. 750.0 Mn

  • Agriculture
  • Agri-oriented Projects/Businesses
  • Industrial Businesses
  • Trading Businesses
  • Milk and Dairy related Projects
  • Livestock
  • Ornamental Fish
  • Fisheries Industry
  • Information Technology
  • Apparel Industry
  • Tourism and Hotel Projects
  • Construction of Buildings
  • Printing
  • Educational
  • Service Provisions
  • Export and import Businesses
  • Health Services
  • Any other economic activity
“Business Power” Loan Scheme

“Business Power” is a Loan scheme implemented in order to make banking access to wider segment of SMEs, agriculture, construction, exports, innovations and technology based businesses.

 

  • Operational Regions
    All-Regions
  • Securities
    Any Security acceptable to the Bank.
  • Interest Rate
  • Rate of interest during the first six months of the grace period is 8.0% p.a. and 11.0% p.a. for the next six months.
  • During the capital repayment, rate should be Weekly AWPLR (published by Central Bank of Sri Lanka) + 1.5% at the time of granting and should be reviewed annually e.i; 1st January of every year. (circular guidelines will be issued in this regard)

 

  • Eligible Sectors
  • Agriculture (farming, live stock, fisheries, agro produce collectors and intermediaries, small rice millers)
  • Manufacturing industries focused on direct and indirect exports and imports substitution.
  • Food and Beverages
  • Innovation and technology based businesses.
  • Essential services (Health, Education, Logistics, Telecom)
  • Construction
  • No trading purposes are considered under this loan scheme.
  • Loan Amount
  • Maximum loan amount for investment purposes is Rs. 50.0 Mn per borrower.
  • Maximum loan amount for permanent working capital requirement is Rs. 20.0 Mn per borrower.
  • However, the maximum exposure under this loan scheme should be Rs. 50.0 Mn. per borrower.
  • Repayment Period
  • Maximum repayment period should be seven (7) years including a maximum grace period (if required) of one (1) year for investment loans.
  • Maximum repayment period should be three (3) years including a maximum grace period (if required) of six (06) months for working capital loans.
  • Interest should be serviced during the grace period.
  • Repayment could be arranged based on the cash flow patterns of the respective businesses. (Ex; Monthly, once in two months, once in three months.)
SMELoC Additional Financing III COVID-19 Emergency Response Facility (Working Capital Loan)

 

  • Operational Regions
    All-Regions
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank
  • Interest Rate
  • Working Capital – 4.78% (fixed for the entire tenure)

 

  • Eligible Criteria
  • The enterprises must be registered. Applicants who have not formally registered may qualify to obtain loans if they can submit evidence that its business registration application has been accepted by the Department of the Registrar of Companies or local government authority.
  • Each business entity eligible only for one facility.
  • Borrowers must be economically and financially viable.
  • Borrowers must have annual turnover under Rs. 750.0 Mn and less than 300 employees if in the manufacturing sector or less than 200 employees if in the service industry.

 

  • Eligible Sectors

All enterprises with annual turnover below Rs.750.0 Mn except Trading, Leasing and Renting business

Special Priority given for :

  • Manufacturing
  • Agriculture
  • Fisheries
  • Tourism
  • Agro Processing
  • Animal husbandry
  • All export oriented business
  • Loan Amount
  • Maximum of Rs.10.0 Mn
  • Repayment Period
  • Repayment period considered maximum up to 3 years.
  • The maximum grace period will be six months.
SMELoC Additional Financing III - SME Component (Investment & Working Capital Loan)

 

  • Operational Regions
    All-Regions in Sri Lanka
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.

 

  • Eligible Sectors

Manufacturing and Services except Trading, Leasing and Renting business

 

Special Priority given for :

  • Manufacturing
  • Agriculture
  • Fisheries
  • Tourism
  • Agro Processing
  • Animal husbandry
  • All export oriented business

 

  • Eligible Criteria
  • The enterprises must be registered. Applicants who have not formally registered may qualify to obtain loans if they can submit evidence that its business registration application has been accepted by the Department of the Registrar of Companies or local government authority.
  • Borrowers must be economically and financially viable.
  • Borrowers must have annual turnover under Rs. 750.0 Mn and less than 300 employees if in the manufacturing sector or less than 200 employees if in the service industry.

 

  • Interest Rate
  • Investment loan – 8.8% (fixed for the entire tenure)
  • Working Capital loan – 8.3% (fixed for the entire tenure)

 

  • Maximum Amount
    Maximum of Rs.50.0 Mn.
  • Grant – We-Fi
    Qualified enterprises led by women are entitled for 10% to 25% of the principal loan amount as a grant. (Conditions applied)

 

  • Repayment Period
  • Repayment period considered maximum up to 10 years
  • The maximum grace period will be 2 years
SMELoC Additional Financing III - Tea Small Holder Credit Line

 

  • Operational Regions
    Badulla / Galle / Kaluthara / Kandy / Kegalle /

    Matale / Matara / Nuwara-Eliya / Ratnapura
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.

 

  • Areas for which Credit is approved

Capital investment for projects that increases the leaf production such as,

 

new planting, replanting, infilling, nursery development, irrigation, water and soil management and mechanization

 

  • Eligible Criteria
  • Tea smallholders, who hold equal or less than 50 Acres.
  • Borrowers must be economically and financially viable.
  • Borrowers who request for replanting or new planting with less than 10 acres of tea land eligible for additional Grant

 

  • Interest Rate
  • 4.75% fixed for the entire tenure

 

  • Maximum Amount
    o Maximum of Rs.30.0 Mn.
  • Grant – We-Fi
    Grant would be entitled for tea smallholders not exceeding 10 acres for new planting and replanting (Conditions applied)

 

  • Repayment Period
  • Repayment period considered maximum up to 10 years
“ Saara Bhumi “ – An extended credit facility under SMED loan scheme

 

  • Operational Regions
    All-Regions in Sri Lanka
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.

 

  • Areas for which Credit is approved

Provide financial assistance for those willing to expand their existing businesses or to start new businesses on manufacturing organic fertilizer, pesticides and herbicides locally.

 

  • Eligible Criteria
  • Fertilizer manufactures must obtain the registration & certification from the National Fertilizer Secretariat.
  • Pesticides and herbicides/weedicides manufactures must obtain the license from the Office of the Registrar of Pesticide (ORP)- Department of Agriculture.
  • Borrowers should have a Registration from Ministry of Agriculture Development & Agrarian Services as a Fertilizer Producers.
  • Fertilizer manufactures must have or estimated minimum annual production capacity of 250 MT (250,000 Kg).
  • Burrowers must have technical expertise on the fertilizer manufacturing.
  • Projects must be economically and financially viable.
  • Grant loans to borrowers who are not having a buy back agreement but having a comprehensive marketing proposal to sell their production.
  • Projects should have a valid Environmental Protection License.

 

  • Interest Rate
  • Investment purpose - up to 5 years: AWPLR+2%./ Above 5 years: AWPLR+2.5%
  • Working capital purpose - AWPLR+ 1.5%

 

  • Maximum Amount
  • Amount of loan should be decided on the business volume and the financial feasibility and viability of the project. 75% of the project cost could be financed by the Bank.

 

  • Repayment Period
  • Investment loans
    • Maximum 10 years inclusive of a maximum grace period (if required) of one (1) year.
    • Maximum 10 years inclusive of a maximum grace period (if required) of one (1) year. The repayment period of loans considered for purchasing of machinery, equipment and furniture should be restricted for a maximum up to the use of life time of such machinery, equipment.
  • Working Capital loans
    • Maximum 3 years inclusive of a maximum grace period (if required) of one (1) year.
Loan scheme for Solar Power Generation Projects

 

  • Operational Regions
    All-Regions in Sri Lanka
  • Securities
    Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.

 

  • Areas for which Credit is approved

To provide financial assistance for the projects that generates large amount of solar power. (measured in kilowatts)

 

  • Eligible Criteria
  • Loans under this scheme will be considered for any enterprise operating in Sri Lanka or any individual.
  • Applicants should have the Standard Power Purchase Agreement signed with Ceylon Electricity Board for solar parks and letter of intent from the CEB or LECO for rooftop solar projects.

 

  • Interest Rate
  • First year- 8.5% p.a fixed.
  • Second year up to fifth year- AWPLR+ 1.5% p.a (Annually reviewed)
  • Fifth year onwards - AWPLR+ 2.5% p.a. (Annually reviewed)If applicant requires a grace period, the interest rate during the grace period should be AWPLR+ 1.5% p.a. After completing the grace period, interest rate should be applied as above respectively.
  • Floor rate should be 8.5%.

 

  • Loan Amount
  • Maximum of Rs. 500.0 Mn

 

  • Repayment Period
  • Maximum repayment period should be 7 years including 1 year grace period..

 

 

Contact us for more Details

Thilina Weerasekara
Assistant Manager - SME
Tel No - 011-2481356
E-Mail - thilinaw@peoplesbank.lk

Mihiravi Weerarathna
Assistant Manager - SME
Tel No - 011-2421501
E-Mail - sme1@peoplesbank.lk

Dasuni Pasansi
Assistant Manager - SME
Tel No - 011-2421501
E-Mail - sme@peoplesbank.lk

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