People’s Bank is dedicated to fostering business growth by providing flexible and competitive business loan solutions. With interest rates starting as low as 7% annually, entrepreneurs can access tailored financing options designed to meet the diverse needs of industries such as agriculture, manufacturing, sales and services, import and export, and sustainable businesses.
Supporting Business Growth with Development and SME Loans
According to People’s Bank Deputy General Manager-Enterprise Banking, Wickrama Narayana, “Development and SME loans play a crucial role in driving economic growth by providing entrepreneurs and small businesses with the financial support they need to expand and innovate. These loans empower businesses to invest in new technologies, enhance productivity, and create employment opportunities, ultimately contributing to a thriving economy. Therefore, People’s Bank has introduced various loan schemes to support the SME and Micro sectors, ensuring they have the financial backing needed to grow and sustain their businesses.””
Loan Schemes to Suit Various Business Needs
- Aswenna Loan Scheme
This loan scheme is specifically designed for farmers to support the purchase of paddy lands. It offers investment loans up to Rs. 5.0 Mn and working capital loans up to Rs. 2.0 Mn, enabling farmers to enhance their agricultural operations effectively. - Vanitha Saviya Loan Scheme
People’s Bank has introduced this development lending scheme to expand banking access for women entrepreneurs. The scheme provides a maximum loan amount of Rs. 25.0 Mn for both investment and working capital needs, supporting commercially, technically, and financially feasible businesses owned by women. - Kapruka Ayojana Loan Scheme
This loan scheme aims to facilitate the development of coconut cultivation by offering a maximum loan amount of Rs. 5.0 Mn for investment and working capital purposes. - People’s Power Loan Scheme
Designed to support MSMEs and low-income earners, this scheme provides financial assistance to improve products, services, and business processes. It offers group loans up to Rs. 0.5 Mn and individual loans up to Rs. 5.0 Mn for investment and working capital purposes. - Pledge Loan Scheme
This scheme is structured to provide financial assistance for the purchase and storage of paddy and maize. The maximum loan amount is determined based on customer requirements and warehouse capacity. - New Comprehensive Rural Credit Scheme (NCRCS)
NCRCS is introduced to uplift the socio-economic conditions of micro and small-scale farmers engaged in short-term crop cultivation. The maximum loan amount is Rs. 3.0 Mn, based on the crop and land extent. - SMED Loan Scheme
This scheme caters to businesses requiring financial assistance for investment and working capital needs of mid & Large storage SME Customers whose annual turnover is below Rs.1.0 Bn. The loan amount varies based on the requirement, with a minimum of Rs. 500,000. It includes investment loans, short-term loans, letters of credit, overdraft facilities, and letters of guarantee. Priority sectors include agriculture, industrial businesses, trading, dairy, fisheries, IT, apparel, tourism, education, and export/import businesses. - Business Power Loan Scheme
This loan scheme aims to facilitate SMEs in agriculture, construction, exports, innovation, and technology-based businesses. It offers investment and working capital loans up to Rs. 250 Mn and working capital loans up to Rs. 50 Mn. - Rooftop Solar and Solar Projects
This scheme provides financial support for businesses investing in solar power systems, with a maximum loan amount of Rs. 500 Mn. - Green Power Loan Scheme
Designed to promote environmentally friendly projects and businesses, this scheme provides financial assistance up to Rs. 500 Mn for green finance initiatives. Eligible sectors include agriculture, forestry, manufacturing, construction, tourism, and waste management. - People’s Spark Loan Scheme
This scheme supports individuals and businesses in agriculture, food and beverage, manufacturing, innovation, tourism, and essential services including viable startups. The maximum loan amount is Rs. 2.5 Mn for investment and working capital needs. - SMILE III Loan Scheme
This scheme supports value-added manufacturing businesses, providing loan facilities up to Rs. 25 Mn.
Your Business Growth Partner
People’s Bank is committed to providing financial solutions that enable businesses to thrive in a competitive market. Whether you are a farmer looking to expand your agricultural business, an entrepreneur aiming to scale operations, or a company investing in green energy solutions, our business loans are designed to support your success.
