NDB Bank partners Hatch and NCGI to empower startups with collateral-free business loans

Friday, 1 August 2025 00:02 - - {{hitsCtrl.values.hits}}

NDB Bank Chief Manager and Zonal Head – Business Banking Nilendra Vithanage

NDB Bank, in collaboration with the National Credit Guarantee Institution Ltd., (NCGI) and Hatch Works, recently hosted a focused awareness session at Hatch Innovation Hub in Colombo to introduce Sri Lankan startups to the benefits of the NCGI-backed loan guarantee facility. This initiative marked a significant step in expanding access to finance for emerging entrepreneurs, particularly in the IT and technology sectors.

The session was attended by over 40 startups and small to medium-sized enterprises (SMEs), with representation spanning diverse industries including agriculture, manufacturing, digital solutions, and services. The key objective was to shed light on the National Credit Guarantee mechanism—an empowering facility that enables entrepreneurs to access business loans without the need for traditional collateral. Once a business is backed by the NCGI guarantee, the guarantee itself serves as the security for the loan, significantly improving access to finance for early-stage businesses.

Representing NDB Bank at the session were Chief Manager and Zonal Head – Business Banking Nilendra Vithanage, and Senior Manager – SME Refinance Sudesh Fernando. The National Credit Guarantee Institution was represented by Chief Executive Officer Jude Fernando and Head of Guarantee Administration Himansu Wickramasinghe. Hatch was represented by its Chief Executive Officer Mevan Peiries.

As a pioneer in financial inclusion and SME empowerment, NDB Bank is committed to supporting entrepreneurs at every stage of their growth journey. The bank has remained steadfast in its mission to provide tailored financial solutions that meet the unique challenges of startups, particularly in fast-growing innovation-led sectors like IT. With the support of NCGI and forward-thinking incubators such as Hatch, NDB is expanding its reach to foster the next generation of Sri Lankan entrepreneurs who are set to shape the country’s economic future.

Commenting on the initiative, NDB Bank Nilendra Vithanage noted, “Our partnership with NCGI and Hatch is a reflection of our unwavering belief in the potential of Sri Lankan startups. We understand that access to finance remains a key barrier for many new businesses, especially those without traditional assets or collateral. The NCGI guarantee transforms this dynamic, and we are proud to be enabling access to opportunity.”

This collaboration between NDB, NCGI, and Hatch is expected to continue in the months ahead, with plans to extend further knowledge-sharing sessions and financial accessibility programs to entrepreneurial communities across the island. Together, these institutions are building a more inclusive startup ecosystem, one where innovation is supported, and financial solutions are accessible, secure, and sustainable.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.