Lankaputhra Development Bank financial assistance to micro entrepreneurs in Battaramulla

Friday, 19 June 2015 00:00 - - {{hitsCtrl.values.hits}}

BUP_DFT_DFT-4_02-6

Lankaputhra Development Bank Chairman Lasantha Goonewardena with recipients of savings tills

Lankaputhra Development Bank (LDB) has launched a financial assistance program to boost the businesses of the members of the Battaramulla Sri Jayawardenepura Self-Employed Workers’ Association. In addition to this, to promote the savings habit, savings tills were distributed among the small-scale industrialists who received this financial assistance. Chairman Lasantha Goonewardena, Working Director Thuwan Riza Hameit, General Manager/CEO Lasantha Amarasekara and Deputy General Manager Ranjith Dissanayake distributed these loans and savings tills at an event organised in the Kimbulawala area in Battaramulla.

The members of this association are involved in selling a wide variety of items such as ‘Kola Kenda’ (herbal porridge), sweetmeats, ornamental goods, compact discs and various beverages. Lankaputhra Development Bank initiated these loans in response to a request by the association and plans are being made to provide loans to all members of the association in the future.

One of the key features of this loan scheme is that a representative of LDB will be making monthly field visits to observe the progress of the business of each and every loan recipient. During such visits, the field officer of LDB will be collecting the loan instalment from the loan recipient as well as the savings amount which will be duly deposited in his or her account.

There has been a very positive response to this program by a majority of the self-employed workers. They indicated their appreciation for this unique program as the process of visiting the bank to collect their loan instalment and deposits hinders the day-to-day operations of their business. The bank intends to further enhance the services offered to the people of this area in the future.

LDB operates successful branches in Colombo, Hambantota, Polonnaruwa, Kandy, Kegalle, Wennappuwa, Batticaloa and Trincomalee. The management is currently making plans to open LDB branches in the Tambuttegama and Bandarawela areas in the future. One of the key aspects of the expanding of the branch network is that the new branches will only be opened if a better service can be offered to customers in a particular district.