BOC continues hugely-successful Biz Revival and Specialist Loans Clinic

Wednesday, 10 March 2021 00:00 - - {{hitsCtrl.values.hits}}

Holds program in Northern Province to further strengthen micro and SME sector

As part of BOC’s continuing efforts to help small-scale entrepreneurs emerge from the financial and operational challenges experienced on account of the COVID-19 pandemic, the bank took its popular Business Revival Clinic to Kilinochchi in late February.

On 23 February, the program held in conjunction with the Department of Fisheries and Aquatic Resources (Kilinochchi District) drew large numbers of the bank’s micro, small, and medium scale fisheries-based customers.

The entrepreneurs received an opportunity to participate in a day-long program conducted by BOC, with a series of sessions allowing for direct interaction with the bank’s and Executive Management personnel and area plus branch managers, to voice their business concerns.

The bank’s Executive Management was represented by Assistant General Manager (Northern Province) V. Sivananthan and the event also drew the participation of Department of Fisheries and Aquatic Resources – Kilinochchi District Assistant Director K. Mohanakumar. Other lead forum participants included Area Manager (Jaffna East) S. Nethananthan, Manager (Kilinochchi Branch) K. Alan Jeyaharan, and Manager (Mulankavil Branch) S. Sivarupan.

During the clinic, fisheries-focused customers from Kilinochchi and surrounding areas presented their entrepreneurial challenges to bank officials, with attention paid to identifying the reasons for business failure and subsequently receiving customised solutions to address exact concerns. Topics ranging from capital expenditure, operating expenses, to specialist loans were discussed as part of the program, with advice given to help entrepreneurs revive their businesses amidst the ongoing pandemic-affected economy.

As part of the program, the bank raised awareness among entrepreneurs on fisheries-specific loan facilities offered through BOC’s Divi Udana scheme, which carries specialized individual loans for business tasks ranging from the purchase of fishing nets to building of tanks.

The bank’s Business Revival and Specialist Loan Clinics across the island have been well-received by entrepreneur communities across sectors such as fisheries, prawn farming, and pea cultivation, further strengthening BOC’s position as the industry-leader in facilitating development loans, with particular emphasis currently on boosting Sri Lanka’s vibrant yet hard-hit micro and SME sector.