Business News from Sri Lanka: The Ministry of Finance has made arrangements to reach people and carry out mobile service to Enterprise Sri Lanka across the nation to provide capital loans at subsidized interest rates to allow individuals to start tiny and medium-sized, self-employment or sectors in several districts over the next few days.
Accordingly, on September 21 and 22, 2019, the mobile service of Enterprise Sri Lanka will take place in Kirindiwela Maha Vidyalaya, the districts of Puttalam, Mannar and Galle on September 28 and 29, and on October 5 and 6, 2019 in Matara, Hambantota and Trincomalee.
Under the Enterprise Sri Lanka, loan scheme passed by Parliament following a budget proposal from Finance Minister Mangala Samaraweera; 58,000 entrepreneurs have already been granted capital loans valued at Rs.93,000 million.
Loans ranging from one hundred thousand rupees to Rs.750 million can be obtained by prospective entrepreneurs from commercial banks under subsidized interest rate under this scheme to open up a new business or industry. Under this system, interest-free loans will be given for self-employment and graduates, and credit interest subsidies will be given from 50% to 75% for other company enterprises.
In the Mobile Service Complex, facilities were built to allow credit candidates to receive such loans from state banks. Among the facilities available in the mobile service complex are: loan application issuance, necessary guidance for obtaining bank loans, facilities for registering business establishments and businesses, and exporter registration. In addition, graduates are recorded under the program introduced by the’ Arambuma’ Export Development Board, aid in issuing tourist hotel licenses and aid in obtaining homestay ventures permission and guidance under the Tourist Development Authority.
An important requirement is the proper preparation of one’s project report. Accordingly, the preparation of the necessary project report to be submitted to commercial banks, the issuance of applications for the National Housing Development Authority’s’ Sonduru Piyasa ‘ housing scheme, the settlement of loan applicants ‘ problems in obtaining loans, and the guidance on the specific requirement to be met when applying for loans under the Ministry of Finance could be obtained
Enterprise Sri Lanka Loan Scheme has focused on growth, covering multiple industries and introducing credit schemes for each industry. Agriculture, tiny and medium-sized sectors, housing loans and security loans have been provided priority. The government expects to accelerate the growth of the nation with the assistance of the newly formed entrepreneurial society, helped by the numerous credit schemes provided by the Enterprise Sri Lanka program, and the Ministry of Finance has planned to generate 100,000 fresh entrepreneurs in the nation.
