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Project Loans |
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A Loan scheme designed to assist small and medium scale entrepreneurs to start a new project or expand an existing business, acquire advance technology or construct factory buildings, laboratories, purchase machinery and equipments for industries or obtain professional services for specific projects, at a concessionary interest rates and repayment scheme.
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MICRO LENDING |
| A Loan scheme specially designed to assist small scale entrepreneurs involved in self employment and cottage industry at a very low interest rate and flexible repayment schemes. |
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Objectives |
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To be the catalyst of rural economic resurgence which would eventually alleviate poverty, reduce inequality in regional income distribution and increase employment opportunities. |
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To deliver development financing facilities to encourage new and innovative enterprises to develop their existing enterprises to reach international standard. |
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For whom |
Micro, Small and Medium scale entrepreneurs. |
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Eligible Loan Sectors and Sub sectors |
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Priority Areas |
Priority would be given to following sub sectors. |
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Perennial Crops |
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Dairy farming |
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Fisheries |
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Agro base industries |
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Other agricultural crops |
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Technology inputs |
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Whilst entertaining credit facilities for the development activities within the above sub sectors, special consideration would be given to projects concentrating on the following categories and located outside the western province. |
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Production of export oriented products |
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Products assisting import substitution |
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Products with value addition using local raw material |
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New employment generation. |
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| Eligible Loan Categories |
| Credit facilities will be provided for the following purposes within the above sub sectors |
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Purchase of equipment, plant & machinery and heavy vehicles for the specific projects |
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Construction of factory building, laboratories, hotel complex and related construction for specific projects. |
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Installation of machinery / equipment. |
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Acquiring advanced technology. |
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Obtaining professional’s / expert’s services for specific projects. |
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Self employment under micro financing. |
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| Interest Rate |
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Interest Rate (p.a) * |
Project Loans |
Out of Western Province |
12% |
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Within Western Province |
12% - 16% |
Working Capital |
Out of Western Province |
14% - 16% |
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Within Western Province |
17% - 18% |
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Repayment Period |
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Up to a maximum of 4 to 7 years |
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| * Interest quoted is subject to change at the Bank discretion. |
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