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SME
Loans

Small and Medium Enterprises Development (SMED) Scheme (Loans, STLs, Letter of Credit Facilities, PODs)

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 toward 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.

Features

SMED Loans

Interest Rate

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

  • AWPLR +3.5% (Monthly review- Floor Rate 22%)

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 requirements.

Securities

  • Any security acceptable to the bank

SMED Permanent Over Drafts

Interest Rate

  • AWPLR +3.5% (Monthly review- Floor Rate 22%)

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.

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 an equity investment of Rs 1.0 Million to Rs. 5.0 Million.

Areas for which credit is provided

Investments and working capital requirements will be funded for the 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

Contact Us

    Thilina Weerasekara

  • 011-2481356
  • thilinaw@peoplesbank.lk

    Mihiravi Weerarathna

  • 011-2421501
  • sme1@peoplesbank.lk

    Dasuni Pasansi

  • 011-2421501
  • sme@peoplesbank.lk
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