We have introduced equipment and machinery financing to society members through their cooperatives. Such loans can benefit the members in preserving the income of their business by spreading out the cost of equipment or machinery over a 3-year period.
FEATURES AND BENEFITS
- Repayment period of 3 years in monthly installments at prevailing interest rates
- Loan amount depends on the capacity of the society, and can go up to Rs. 20 million with no collateral
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
- The Borrowers List should be submitted to the bank as collateral
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