New loan scheme for small & medium-scale entrepreneurs

October 27, 2022 at 1:21 PM

Small and medium-scale entrepreneurs can now obtain Working Capital loans of up to Rs.10 million from 08 Government and private banks, the Ministry of Finance announced today (27).

The Ministry said that the Working Capital loans will be provided with 11% to 12% interest with 06 months grace period and a 3-year payment gateway.

The Finance Ministry added that a fund of USD 13.5 million from the Asian Development Bank (ADB) has been disbursed to banks for this purpose. 

The loans are being offered under the Small and Medium-sized Enterprises Line of Credit (SMELoC) Project funded by the ADB. (NewsWire)