Cargills Bank Driving Progress in Sri Lanka with Full Support for SMEs

In Sri Lanka, Small and Medium Enterprises (SMEs) play a crucial role in fostering growth, innovation, and resilience. Representing over 75% of all businesses, accounting for 45% of employment, and contributing a significant 52% to GDP, SMEs are the backbone of economic diversity and regional development. Recognising the pivotal role SMEs play, Cargills Bank – Sri Lanka’s most progressive bank – is committed to harnessing the spirit of progress in every Sri Lankan entrepreneur, through a range of tailored solutions for SMEs.

Why Should SMEs Choose Cargills Bank?

Understanding that each SME has unique needs, the Cargills Bank offers tailor-made financial solutions designed to support businesses at every stage of their growth journey. Whether it is facilitating working capital, managing cash flow, or funding long-term expansion projects, Cargills Bank’s SME Banking services are structured to meet the diverse requirements of this sector.

A dedicated team, deeply committed to understanding the unique challenges and opportunities faced by SMEs, ensures that customers receive not only financial support but also expert guidance and advice. This combination of financial products and expert attention has made Cargills Bank a trusted partner for SMEs across the country.

What Solutions Are There for Working Capital and Trade Finance?

From overdrafts that allow businesses to manage day-to-day cash flow needs with flexibility, to short-term loans that cover immediate financial requirements, the bank offers a range of options to ensure businesses can operate smoothly. Furthermore, providing an effective solution for businesses to access cash tied up in unpaid invoices, Cargills Bank’s Invoice Discounting facility helps to improve cash flows for faster growth.

Supporting both exporters and importers, the bank’s trade finance facilities further strengthen SMEs engaged in external trade, offering a comprehensive suite of products including Letters of Credit, Packing Credit Loans, and Shipping Guarantees. These services ensure that businesses can navigate the complexities of global trade with confidence and ease.

What About Term Loans for Long-Term Growth?

For businesses looking to expand or invest in new assets, Cargills Bank offers Term Loans with highly competitive interest rates and flexible repayment terms and tenures. With a repayment period of up to 7 years and the possibility of a capital grace period tailored to the project’s needs, these loans provide the long-term financial support that businesses require to grow sustainably.

Why do SME’s Need a True & Flexible Growth Partner?

Discussing the bank’s commitment to SMEs, Mr. Senarath Bandara – CEO/MD of Cargills Bank said, “At Cargills Bank, we believe in the power of SMEs to drive the nation’s economy forward. Our goal is to empower these businesses and entrepreneurs with the financial tools they need to thrive. We aim to partner with them on their growth journey, and are dedicated to supporting all aspirations of entrepreneurship in Sri Lanka.”

Beyond its robust suite of financial products, Cargills Bank’s SME Circle is a unique value addition that sets the bank apart, supporting SMEs to seize new opportunities and overcome challenges. This initiative goes beyond traditional banking services by providing SMEs with access to expert guidance, knowledge-sharing opportunities, and connections with both state and private sector institutions for non-financial services.

Why Choose a Strong & Trusted Institution?

Cargills Bank holds an A(lka) rating from Fitch Ratings Lanka – placing it on par with industry leaders – and provides a full range of banking and financial services for all Sri Lankans. A unique feature of Cargills Bank is that customers can also access their Cargills Bank accounts through Cargills Supermarket checkout counters across 475+ locations Island-wide with no additional fees, courtesy of the Cargills Bank agency banking service. This wide reach and hybrid network model ensure that financial services are conveniently accessible to businesses across Sri Lanka.

The Bank also provides a range of flexible and convenient digital banking services, ensuring 24/7 access and absolute convenience, in line with its commitment to furthering financial inclusion and digital empowerment. Cargills Bank is headquartered in Colpetty in Colombo and maintains branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Chillaw, Fort, Rajagiriya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, Jaffna, Nawalapitiya, Negombo, Anuradhapura and Bandarawela.

Learn more about SME Banking at Cargills Bank – Call 011 7640 640 or visit www.cargillsbank.com to get started.