A loan specially designed to aid cooperatives / societies in property acquisition in terms of real estate, land / office premises and condominiums or to establish and open up a new business venture.
FEATURES AND BENEFITS
- A maximum loan amount of up to 75% of the Forced Sales Value of the property, at prevailing interest rates
- 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
- The property being acquired must be mortgaged to the bank
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