Jayadiri from Lankaputhra Development Bank for young entrepreneurs

Wednesday, 3 July 2013 00:01 - - {{hitsCtrl.values.hits}}

Lankaputhra Development Bank, a fully-fledged Government bank, launched the Jayadiri loan for young entrepreneurs who have started to climb the ladder of success. The loan scheme not only offers financial assistance away from traditional collateral based lending but also provides knowledge and advice on how to start and develop a business successfully. The loan scheme is for youngsters who want to start a business of their own and succeed. As a Government bank Lankaputhra Development Bank carefully planned the loan scheme to cater to the needs of the youth who are business minded but lack financial resources. Recently the first loan under Jayadiri was disbursed to an entrepreneur who plans to design and export jewellery made with natural pearls.

Any youth who has a strong business capability and is willing to take challenges and win, will be given priority when giving loans. A feasible business plan as well as the product or service that is capable of winning the market is essential to be eligible for a loan. Entrepreneurs who are aged between 18 and 35 and are capable of providing at least 20 percent of the project cost will be considered on a priority basis. Jayadiri offers loans to any projects which introduces a new innovative and marketable product or service, a new business process, manufacture of import substitute or a business that uses modern technology for a traditional business. The project should be a new start up or an already started business which operates in micro level due to non availability of funding for expansion. The customer should demonstrate his/her commitment to the project and keenness to develop as an entrepreneur. Lankaputhra Development Bank was opened to strengthen the local economy by supporting the entrepreneurs of the country. The bank has initiated many loan schemes to support the Small and Medium scale entrepreneurs in the country. In addition to the savings scheme for children with attractive interest rates, leasing and pawning services are also offered by the bank. At present the bank has branches in Colombo, Hambantota, Polonnaruwa, Kegalle, Kandy, Wennappuwa, Trincomalee and Batticaloa. The bank is planning to open a branch in every district of the country to cater to the needs of our valued customers.