Enterprise Sri Lanka mobile service to be held islandwide to provide capital loan for investment

The Finance Ministry has made arrangements to reach the people and conduct Enterprise Sri Lanka mobile service throughout the country in order to provide capital loans at subsidised interest rate to enable the people to begin small and medium, self-employment or industries in several districts during the next few days.

Accordingly, Enterprise Sri Lanka mobile service will be held at the Kirindiwela Maha Vidyalaya on 21 and 22 September, the districts of Puttalam, Mannar and Galle on 28 and 29 September, and in Matara, Hambantota and Trincomalee districts on 5 and 6 October.

Under the Enterprise Sri Lanka loan scheme which was passed by parliament after a budget proposal made by Finance Minister Mangala Samaraweera, capital loans valued at Rs. 93,000 million have already been granted to 58,000 entrepreneurs.

Prospective entrepreneurs can obtain loans ranging from Rs. 100,000 to Rs. 750 million from commercial banks under subsidised interest rate under this scheme to open a new business or industry. Under this scheme, interest free loans will be granted for self-employment and graduates and, loan interest subsidy from 50% to 75% will be granted for the other business ventures.

Facilities have been made within the mobile service complex to enable the loan applicants to obtain such loans from state banks. Among the facilities available in the mobile service complex are: issuance of loan applications, necessary guidance to obtain bank loans, facilities to register business establishments and companies and registration of exporters. 

In addition, under the program implemented by the Export Development Board ‘Arambuma’, graduates are registered, assistance to issue permits for the tourist hotels and assistance to obtain approval and guidance for the homestay ventures under the Tourist Development Authority. Preparation of one’s project report properly is an essential requirement. 

Accordingly, preparing the necessary project report to be submitted to commercial banks, issuance of applications for the ‘Sonduru Piyasa’ housing scheme of the National Housing Development Authority, settling of loan applicants’ issues with regard to obtaining loans, and the guidance on the special requirement that should be fulfilled when applying for loans under the Finance Ministry could be obtained in this mobile service centres.

Enterprise Sri Lanka Loan Scheme has targeted development and it covers several sectors, and loan schemes have been introduced to each sector. Priority has been given to agriculture, small and medium industries, putting up housing and protection loans.

The Government expects to accelerate the country’s development with the help of the newly-created entrepreneur community assisted by the various loan schemes being granted by the Enterprise Sri Lanka program and, the Finance Ministry has planned to create 100,000 new entrepreneurs in the country.