Monday Nov 25, 2024
Monday Nov 25, 2024
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maximises the use of local resources, nurtures entrepreneurship culture and also saves foreign currency outflow from the country.
Sampath Bank, the third largest private commercial bank in Sri Lanka, vehemently believes in the duty of educating entrepreneurs and facilitating their development, ensuring that they have adequate knowledge to make informed choices.
Such programs are carried out with the objective of improving the success rates for business start-ups and wealth creation and minimise the dependency on borrowings. These projects cover key areas such as identifying and taking the products to markets, providing insights on avoiding common pitfalls, financial literacy, etc.
Sampath Bank has assisted several budding entrepreneurs under the pillar ‘Entrepreneur Development,’ which is one of the five pillars of the 5E model of the bank.
N. Gamini, worked as a labourer at the Nikado Company Kadawatha, Having gained sufficient knowledge on the job, he ventured out on his own. He started out by making papadam at home.
Gamini lived in a remote village in Kurunegala where elephant attacks were rampant. He left this village behind due to the inherent danger and 
fled to Kahatagasdigiliya, where he had his extended family. Once settled, he recommenced his small scale papadam manufacturing venture.
Making 50 packets of papadam per day, he decided to expand and sought the financial assistance of Sampath Bank – Kahatagasdigiliya branch. He decided to utilise the loan to purchase essential raw materials and expand the distribution of his product beyond Kahatagasdigiliya to areas such as Kebithigollawa, Vavuniya, Galenbindunuwewa, etc. He sought further financial assistance from Sampath Bank, Kahatagasdigiliya branch to purchase a papadam mixing machine.
Guided by the bank’s advice he used his own initiative to build a drying yard, which helped him to save valuable time and focus more on increasing his production capacity. Gamini’s business grew and he was able to use his profits to purchase his own truck. This helped him to further expand his distribution to other areas such as Padaviya, Horowpathana, etc. Following the success of his initial venture, Gamini has now diversified his business into a large scale.
Former Security Guard turned farmer, Sivanantharaja from Thodilady, Chankanai from Jaffna is currently a successful papaw grower. He and his family mainly depend on farming activities, particularly the cultivation of papaw, grapes and onion.
Expecting to develop his farming business, Sivanantharaja sought financial assistance from Sampath Bank, Chankanai Branch. He was granted a special loan under the Re-awakening North Special Loan Scheme. Utilising the loan resourcefully, he managed to level the land, source new plants and procure the fertiliser requirements for his project.
His efforts paid off, the extent of his cultivation grew threefold to 150 perches within a short span of time. He is now a highly sought after grower in the region, with his produce being sold at high-end supermarkets in the Jaffna Peninsula. With his monthly income continuing to grow, the bank inspired Sivanthanraja to save for the future of his business.
These success stories are witnessing to the efficacy of the role Sampath Bank is playing in giving a promising future to small and medium entrepreneurs who are growing from strength to strength with the bank’s able backing.
