“The assistance I received through the BOC Youth Loan was invaluable”

Thursday, 6 February 2025 00:50 - - {{hitsCtrl.values.hits}}

The success story of Samadhi Malsha

The Bank of Ceylon (BOC) is reshaping the future of entrepreneurship in Sri Lanka through its BOC Youth Loan program. Designed to empower young entrepreneurs, the initiative provides financial capital and business guidance to those aiming to launch new ventures or grow their existing enterprises. While the program has garnered attention for its impact, the stories behind it highlight both its promise and the challenges faced by budding business owners in Sri Lanka.

One notable example of the program’s reach is Samadhi Malsha, an entrepreneur who turned her passion for handmade fashion accessories into a profitable business. Starting with limited resources and a small workspace, Malsha envisioned creating unique and intricate designs that stood out in the market. However, the reality of starting a business with minimal capital and little formal support presented hurdles.

The turning point for Malsha came when she applied for the BOC Youth Loan, a program tailored to address the specific needs of young entrepreneurs like her. The funding allowed her to scale production and meet increasing customer demand. In addition to financial assistance, the program offered her practical advice on managing her business operations effectively.

“The assistance I received through the BOC Youth Loan was invaluable,” Malsha said. “The funds and support helped me take my operations to the next level and meet the demands of my customers.

The Bank of Ceylon’s guidance throughout the journey gave me the confidence to manage my business responsibly.” Today, Malsha runs a thriving enterprise, attributing much of her success to the boost provided by the programme.

Many young business owners in Sri Lanka face systemic challenges, including bureaucratic hurdles, limited access to resources, and the struggle to compete in increasingly globalised markets. For some, even with initial funding, sustaining growth remains a challenge due to a lack of long-term mentorship and access to new markets.

Despite these challenges, the BOC Youth Loan program has supported over 10,000 young entrepreneurs since its inception, providing a mix of funding, business development training, and export strategy guidance. By supporting young talent, the bank aims to create a ripple effect that benefits communities and strengthens the country’s overall business ecosystem.

For Samadhi Malsha, the program was the lifeline she needed to transform her vision into a reality. Reflecting on her journey, she said, “The loan was a stepping stone that helped me overcome challenges and turn my dreams into reality. It empowered me to meet market demands and expand my business while providing me with critical knowledge and confidence.”

She concluded by extending an invitation to aspiring entrepreneurs, saying: “I encourage anyone with a passion and a vision for their future to join with BOC Youth Loan Second Phase. It’s the first step toward transforming your ideas into a stable, thriving business. With the right support and guidance, what starts as a dream can evolve into a successful reality.”

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