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
- Eligibility
- Contact Us
Features
Interest Rate
Maximum Amount
- On the need basis upon evaluation.
Repayment Period
- Maximum 10 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.
Interest Rate
- AWPLR + 2.5% (Monthly Review Floor Rate 12.5%)
Maximum Amount
- On the need basis upon evaluation.
Repayment Period
Maximum Amount
- The maximum amount will be decided based on working capital requirements.
Securities
- Any security acceptable to the bank
Interest Rate
- AWPLR + 2.5% (Monthly Review Floor Rate 12.5%)
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
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.
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
“Business Power” Loans
"Business Power" is a Loan scheme implemented to make banking access to a wider segment of SMEs, agriculture, construction, exports, innovations and technology-based businesses.
- Features
- Eligibility
- Contact Us
Features
Operational Regions
Interest Rate
- 1 to 3 years 13.5% per annum (Fixed)
- 4th year onwards ( AWPLR + 2.00% Monthly Review )
Loan Amount
- The maximum loan amount for investment purposes is Rs. 250.0 Mn per borrower.
- The maximum loan amount for permanent working capital requirement is Rs. 50.0 Mn per borrower.
- However, the maximum exposure under this loan scheme should be Rs. 250.0 Mn. per borrower.
Repayment Period
- The maximum repayment period should be ten (10) years including a maximum grace period (if required) of two (2) year for investment loans.
- The maximum repayment period should be three (3) years 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.)
Eligibility
- Agriculture (farming, livestock, 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 scheme for Solar Power Generation Projects
- Features
- Eligibility
- Contact Us
Features
Interest Rate
- Up to Rs.25.0Mn
- 1st 5 years 11.5% per annum (Fixed)
- 6th year onward up to 7th year weekly AWPLR + 1.5% p.a. (monthly review)
- Rs. 25.0Mn to Rs. 500.0Mn
- 1st three years 11.5% p.a. (Fixed)
- 4th year onward up to 7th year weekly AWPLR + 1.5% p.a. (monthly review)
Securities
- Personal guarantees, mortgage of movable or immovable properties or any other securities acceptable to the Bank.
Operational Regions
Maximum Amount
Repayment Period
- Maximum 7 yrs including 3 months’ grace period
Eligibility
- 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.
“Green Power” Loan Scheme
- Features
- Eligibility
- Contact Us
Features
Interest Rate
- First 5 years - AWPLR - 1.0% p.a. (Monthly Review)
- From 6th year onwards - AWPLR + 1.0% p.a. (Monthly Review)
- However, applicant should obtain certifications, approvals or clearances from the relevant authorities verifying that the particular project is a ‘Green Project’.
Operational Regions
Loan Amount
- 75% of the total proposed project cost up to maximum of Rs. 500Mn.
- Equity contribution should be invested upfront.
Repayment Period
- Maximum repayment period should be ten (10) years for investment loans including a maximum grace period of two (2) years.
- Maximum repayment period should be three (3) years for working capital loans (No grace period is applicable)
- Interest should be serviced during the grace period.
- However, the repayment period of loans granted for purchasing machinery/equipment should be restricted for a maximum period up to the useful life time of the relevant machinery/equipment.
Eligibility
- Agriculture, Forestry & Logging. (precision agriculture, soil conservation, Green animal husbandry afforestation etc)
- Manufacturing. (organic basic chemicals, liquid bio fuel generation, wind/solar power generation)
- Electric Power Generation, Transmission & Distribution.
- Gas, Steam and Air Conditioning Supply.
- Water Supply, Sewerage and Waste Management.
- Construction (New Green Building, Zero- energy building requirement, infra structure enabling low carbon road/ water transport etc)
- Tourism and Recreation.
- Transportation and storage
AIIB-CRF Revolving Fund Phase VIII - Crisis Response Facility
- Features
- Eligibility
- Contact Us
Features
Interest Rate
- 11.0% Fixed (Up to Rs. 50Mn)
Operational Regions
Loan Amount
- The maximum loan amount is Rs. 50.0Mn
Repayment Period
- Maximum repayment period should be three (3) years including a maximum grace period of six (6) months for Working capital finance.
- Interest should be serviced during the grace period.
Eligibility
- Agriculture, Forestry and fishing
- Manufacturing
- Electricity, gas steam, air conditioning
- Water supply (sewerage, waste, remediation)
- Construction
- Wholesale and retail trade
- Accommodation
- Transportation and storage
“PEOPLE'S SPARK” Loan Scheme
- Features
- Eligibility
- Apply
- Contact Us
Features
Interest Rate
- Facilities up to Rs. 500,000 - 7.0% (Fixed)
- Facilities up to Rs. 1,000,000 - 10.0% (Fixed)
- Facilities exceeding Rs. 1,000,000 - AWPLR +2% p.a (Monthly Review)
Operational Regions
Loan Amount
- The maximum loan amount is Rs. 2.5 Mn.
Repayment Period
- Investment Loan - 7 years
- Working capital Loan - 3 years
Security
- Any security acceptable to the bank
Eligibility
- A citizen of Sri Lanka.
- A person who have passed G.C.E. Ordinary Level/Advanced Level examination
- Age between 20-45 years
- Not a defaulter of People’s Bank or any financial institution
- Agriculture (Farming, Live stock, Fisheries, Agro produce collectors and intermediaries, Small rice miller)
- Manufacturing Industries focused.
- Food and Beverages.
- Innovation and technology based businesses.
- Essential Services( Health, Education, Logistics, Telecom)
- Tourism
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011-2421501 
sme1@peoplesbank.lk 
