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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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Chairman

Mr. Sujeewa Rajapakse

Mr. Sujeewa Rajapakse is a Managing Partner of BDO Partners which is the local representative of BDO - the fifth largest accounting network in the world. A Fellow of the Institute of Chartered Accountants of Sri Lanka (FCA) and a Fellow of Institute of Chartered Management Accountants of Sri Lanka (FCMA), Mr.Rajapakse holds a Master of Business Administration (MBA) from Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura. During his professional career that spanned nearly four decades, he held the honorary positions of President, Vice President and Council Member (elect) of the Institute of Chartered Accountants of Sri Lanka (ICASL), Former Chairman of Auditing Standards Committee of ICASL, President of Practicing Accountants Forum of Sri Lanka, Treasurer of Sri Lanka Cricket, Treasurer for Cricket World Cup 2011, Board Member and Technical Advisor to South Asian Federation of Accountants (SAFA), Technical Advisor to Confederation of Asia Pacific Accountants (CAPA) and Council Member of University of Sri Jayewardenepura. He has also served in the directorates of National Development Bank PLC, Softlogic Insurance PLC, Dipped products PLC, Heycarb PLC, Development Holdings (Pvt) Ltd, Lanka Holdings (Pvt) Ltd, NDB Capital Ltd – Bangladesh, The Finance Company PLC and Unidil Packaging.

Director

Mr. Dushmantha Thotawatte

Mr. Dushmantha Thotawatte was appointed to the Board of Directors with effect from 08.07 2022. Mr.Thotawatte is a fellow member of the Institute of Chartered Accountants of Sri Lanka with a Bachelor of Commerce (Special Degree) from the University of Sri Jayawardhanepura & a Master in Financial Economics from the University of Colombo. He is an accomplished leader who has extensive experience in the field of Financial Management, Corporate Governance, Strategic Management and Public Relations, together a successful track record as Chief Executive Officer, Chief Financial Officer and Chief Internal Auditor in many state owned enterprises and private organizations and counts over 38 years of experience.