Personal loan (Small business loan) is a product which is offered to both male and female entrepreneurs.
The key features of this loan are:
The loan is for existing business expansion only
Loan ceiling (1st loan) | LKR 30,000 |
Follow-on loan | Up to LKR 500,000 |
Insurance / loan processing fees | Insurance: Applicable Processing: Applicable |
No. of instalments | 6,12,18,24 weeks |
Loan duration / period | 6,12,18,24 months |
Processing time for 1st loan | 1 week |
Grace period | None |
Age limit | For first loan: 18 - 75 |
Maximum loan limit | LKR 500,000 |
Collateral requirement | Loan Security Fund |