All SANASA Societies, Multi-Purpose Cooperative Societies, other cooperatives and registered societies are eligible to receive this cooperative / society loan for special projects with legal clearance. The project should then be accepted by the bank for cooperative / society usage.
FEATURES AND BENEFITS
- Loan amount will be based on the capacity of the society as well as the project, at prevailing interest rates
- Up to Rs. 20 million with no collateral
- Up to Rs. 30 million with no collateral for cooperatives that have repaid previous loans in a satisfactory manner, subject to the Board Credit Committee and Board of Directors’ approval
- Repayment period up to 10 years with a maximum 2-year grace period
Eligibility
- SANASA Societies, Multi-Purpose Cooperative Societies, other cooperatives and registered societies may apply for this loan
- Suitable collateral will be required to mitigate risk on a case by case basis
Required Documentation
- A duly filled loan application
- Society Mandate
- Society Registration Certificate
- Copy of the Memorandum and Articles of the Society
- Certified copy of the resolution of the Board of Directors
- Society Declaration Form
- Signature Card
- No. 12. Edmonton Road, Kirulapone,
Colombo 06,
Sri Lanka. - 011 5411 411