Lakkam loan scheme launched
The Lankaputhra Development Bank and the Industrial Development Board
of Ceylon have signed a Memorandum of Understanding (MoU), providing for
the launch of the Lakkam Loan Scheme. The signing of the MoU took place
recently at the Ministry of Rural Industrial and Self Employment
Promotion at Maradana.
Minister of Rural Industrial and Self-Employment Promotion
S.B. Navinna receives the agreement from the Acting General
Manager of Lankaputhra Development Bank, Ranjith Dissanayake.
Chief Operations Officer of the Bank Ravi Dassanayake and
Chairman of the Industrial Development Board, Gamini
Gunadasa look on.
The loan scheme seeks to provide financial assistance to
entrepreneurs who plan or already have launched village level small and
medium scale industries or self-employment ventures. Applications with
the recommendations of the Industrial Development Board of Ceylon will
only be considered under this scheme.
The amount of loan will vary from Rs. 50,000 to Rs. one million with
an annual interest rate of 12 percent. The security for the loan will
depend on the amount sought. The repayment period will be from three
years to five years.
Funds will be provided for the purchase of machinery and equipment as
well as working capital. All manufacturing industries and services and
self employment ventures are eligible to receive these loans.
The Lakkam loan scheme currently covers the North Western, Central,
Uva, North Central, Sabaragamuwa, Southern, Eastern and Northern
Provinces and Kalutara district in the Western province.
Advice regarding the loan scheme could be obtained from the Regional
Offices of the Industrial Development Board. Duly filled application
forms along with the project report should be submitted to the
Lankaputhra Development Bank.
The project report sent with the application should be forwarded with
the recommendation of the Industrial Development Board of Ceylon.