COVID CONCESSIONAL LOAN SCHEME IMPLEMENTED THROUGH CO-OPERATIVE SOCIETIES FOR THE PEOPLE AFFECTED BY THE CORONA CRISIS
As a socially responsible bank, we offer these loan schemes to the cooperative sector to achieve the following.
- To provide financial assistance to the members through SANASA societies who face corona disaster
- To participate in the necessary goods distribution program collaboration with Government and MPCS
- Lending within short time period using minimum documentation.
Features and Benefits
Package 1
Loan facility given to SANASA societies with the aim of uplifting the daily lives of the people affected by the corona epidemic.
- Relending purpose to the members for their consumer needs
- Maximum Payback period is 24 months
- A maximum of Rs.10 million loan
- 3 months grace period
Package 2
To fulfill working capital requirements of the MPCS which works with Cooperative Department to uplift social disrupted by Corona pandemic.
- Special working capital loan
- Maximum Payback period is 24 months
- A loan up to 10 million rupees
- 3 months grace period
Eligibility
- Registered SANASA Societies which borrowed from SDB previously
- Registered Multi-Purpose & other Cooperative Societies
Required documentation
Package 1
- Loan application
- Board of resolution
- Registration certificate
- Financial accounts with notes as at nearest financial year
- Latest NPL Report
- Approved Maximum Credit Limit (MCL)
- Society CRIB report
- Borrowing list
- General Audit Opinion
Package 2
- Loan application
- Board of resolution
- Registration certificate
- Financial accounts with notes as at nearest financial year
- Latest NPL Report
- Society CRIB report
- Approved Maximum Credit Limit (MCL)
- General Audit Opinion
- Approval of Cooperative commissioner (NCCD) or Provincial Cooperative Commissioner (PCCD) or Assistant Coop Commissioner (ACCD)
Terms & Conditions
- Eligibility period up to 30.09.2021
- Interest rate is 9.75% p.a for 12 months
- Interest rate is 10.25% p.a for 24 months
- No. 12. Edmonton Road, Kirulapone,
Colombo 06,
Sri Lanka. - 011 5411 411