Seylan Bank to re-energise MSMEs together with Government

Wednesday, 24 July 2024 00:04 - - {{hitsCtrl.values.hits}}

Seylan Bank, in collaboration with the Government, has announced the launch of a new Loan Scheme, in a bid to re-energise Micro, Small, and Medium Enterprises (MSMEs) across the country.

Funded by the GoSL, this loan scheme is designed to serve as a catalyst for the MSME sector, unlocking its potential and propelling it towards unprecedented levels of growth. As Sri Lanka anticipates more favourable economic conditions, this strategic collaboration seeks to empower businesses in key industries, including Manufacturing, Tourism, Construction, Apparel and Agriculture based industries, along with Export oriented businesses.

MSMEs will have the opportunity to apply for this Loan Scheme through Seylan Bank. This financial boost will be allocated for specific purposes, the acquisition of assets such as machinery (solar power generating system), equipment, or furniture to facilitate business expansion and enhance productivity. Additionally, the loan can be utilised for the introduction of new or advanced technologies, new constructions, constructions for expansions, and business refurbishments.

This loan comes with a maximum loan amount of Rs. 15 million, offering businesses the flexibility to meet their diverse needs. With a generous maximum tenure of ten years and an attractive interest rate of 7%, this scheme is tailored to address the unique challenges faced by MSMEs.

This re-energise loan scheme aligns with Seylan Bank’s dedication to supporting the business community and contributing to the overall economic development of Sri Lanka. This initiative stands as a beacon of hope for MSMEs, empowering them to reach new heights and contribute significantly to the nation’s economic resurgence.