Especially designed short-term loans for liquidity and working capital needs, these loans are reviewed annually, so that cooperatives and societies could be granted a quantum of disbursement under the approved revolving amount.
FEATURES AND BENEFITS
- A maximum loan amount based on the capacity of the society and the requirement
- Repayment in monthly installments at prevailing interest rates
- Loan amount of up to Rs. 30 million with no collateral, subject to the Board Credit Committee and Board of Directors’ approval
- Reviewed annually
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