Sahanaya for Voluntary Societies | SDB bank Sri Lanka | SDB bank

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
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