NDB Bank launches ‘SME Re-Energizer’ loan to empower MSMEs

Wednesday, 10 July 2024 00:06 - - {{hitsCtrl.values.hits}}

NDB Bank yesterday announced the launch of its new ‘SME Re-Energizer’ loan in collaboration with the Sri Lankan Government, designed to provide essential financial support to SMEs and MSMEs across Sri Lanka.

This initiative underscores NDB’s commitment to empowering small and medium-sized enterprises and fostering economic growth by supporting the nation’s emerging businesses.

The ‘SME Re-Energizer’ offers investment loans up to Rs. 15 million per SME client with a valid business registration, available at a highly competitive interest rate of 7% per annum.

This scheme targets key sectors, including manufacturing, construction, exports, tourism, apparel, agriculture, and agro-based industries. With flexible repayments, the scheme aims to provide long-term financial solutions tailored to the specific needs of each business entity. Eligible purposes for the loan include the purchase of assets such as machinery, equipment, or furniture for business expansion. The scheme also covers cost reduction initiatives such as solar installations and productivity improvements, vehicle purchases for the tourism sector, business expansion through the introduction of new or advanced technologies, and new constructions, expansions, or refurbishments of factories, buildings, or warehouses.

NDB Bank recognises the vital role that SMEs and MSMEs play in driving economic growth and innovation in Sri Lanka. By providing affordable financing options, the bank aims to enable these businesses to invest in their growth, enhance their operational efficiency, and achieve their strategic objectives. This initiative is more than just a financial product; it is a testament to NDB’s commitment to nurturing the entrepreneurial spirit and supporting the sustainable development of the Sri Lankan economy.

By empowering small and medium-sized enterprises, NDB Bank aims to invest in the future of the nation, create jobs, and foster a resilient and diversified economic landscape. By offering competitive financial solutions tailored to the unique needs of these businesses, NDB Bank is committed to supporting their growth and innovation, ultimately contributing to the broader economic prosperity of the country.