Seylan Bank to strengthen MSMEs with govt. collaboration

Seylan Bank, in collaboration with the Government of Sri Lanka (GoSL), announced the launch of a new loan scheme, in a bid to re-energise Micro, Small, and Medium Enterprises (MSMEs) across the country.

Funded by the GoSL, this loan scheme is designed to serve as a catalyst for the MSME sector, unlocking its potential and propelling it towards unprecedented levels of growth. 

As Sri Lanka anticipates more favourable economic conditions, this strategic collaboration seeks to empower businesses in key industries, including Manufacturing, Tourism, Construction, Apparel and Agriculture based industries, along with Export oriented businesses. 

MSMEs will have the opportunity to apply for this loan scheme through Seylan Bank. This financial boost will be allocated for specific purposes, the acquisition of assets such as machinery (solar power generating system), equipment, or furniture to facilitate business expansion and enhance productivity. 

Additionally, the loan can be utilised for the introduction of new or advanced technologies, new constructions, constructions for expansions, and business refurbishments.

This loan comes with a maximum loan amount of Rs. 15 million, offering businesses the flexibility to meet their diverse needs. With a maximum tenure of ten years and an interest rate of 7 percent, this scheme is tailored to address the unique challenges faced by MSMEs.