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.