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| Tuesday, 8 February 2005 |
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SMB to provide speedy 'Susahana' loans The Seylan Merchant Bank (SMB) has entered into an agreement with the Central Bank of Sri Lanka to extend financial assistance to the business community in Tsunami affected areas by providing concessionary loans under the "Susahana" refinancing scheme through its branch network. The loan scheme formulated by the Central Bank, offers loans of up to Rs. 100,000 for micro enterprises, and up to Rs five million for small and medium scale enterprises at an interest rate of six per cent per annum. These are to be utilised to resume business operations. "SMB is committed to support the rebuilding process of businesses to ensure a quick recovery of the persons affected by the deadly Tsunamis which ravaged the country," Seylan Merchant Bank Director/General Manager Rohan Senanayake said. "Speedy processing and disbursement are critical for this program and we have instructed our branches in the affected areas to accord highest priority to any applications," he said. Incorporated in September 1992 the Seylan Merchant Bank of Sri Lanka is registered by the Central Bank of Sri Lanka as a Registered Finance Leasing Establishment under the Finance Leasing Act No. 56 of 2000. Its subsidiaries include Seylan Merchant Leasing Limited, SMB Real Estate Ltd., and SMB Money Brokers (Pvt) Ltd. |
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