Loan Rate

Mar 17, 2011 (LBO) – Sri Lanka’s Commercial Bank said it is accepting application for loans which has repayment periods of up to 10 years under a small and medium enterprise loan scheme funded by a World Bank credit line.

Commercial Bank of Ceylon is one of seven participating banks in the credit line, which will give out 3.

0 billion rupees in loans.

Enterprises with annual revenues of less than 300 million rupees in manufacturing or service sectors can apply for the loans.

The loans will have a floating rate linked to the average weighted deposit rate.

A firm would be able to get a maximum of 60 million rupees.

Working capital loans have to be repaid in three years and other in 10 years inclusive of a two year grace period.