IS & CG

Details: Written by: Procons; Category: Uncategorised; Published: 03 January 2023; Hits: 769

Company	Contact
Purpose	Accommodate working capital requirements of Micro and small scale farmers who occupy in cultivating short term crops including home gardening to develop self-sufficient domestic agriculture and increase living standard of the participants
Funded by	Government of Sri Lanka -Interest Subsidy and Credit Guarantee Participatory Financial Institutions –Financing of Loans
Area of Operation	All district
Participatory Financial Institutions	Bank of Ceylon, Peoples Bank, Regional Development Bank, Commercial Bank of Ceylon PLC, Cargills Bank Ltd, DFCC Bank PLC, HDFC Bank, Hatton National Bank PLC, Sampath Bank PLC, Sanasa Development Bank Ltd, Seylan Bank PLC, National Development Bank PLC and Union Bank of Bank
Maximum Loan Limit & Period	Max. Rs 3 million depending on crops and 270-365 days
Interest Rate	8%
Credit Guarantee	60% of the principal amount in loss for willful defaulters
Eligible Categories	Paddy, Chillies, Onion, Pulses (Cowpea, Green Gram, Black Gram, Soya beans, Kurakkan, Maize”, Oil Seeds (Ground Nuts, Gingelly, Sunflower), Root & Tuber (Potato, Sweet Potato, Manioc, Kiri Ala), Vegetables (Brinjal, Ladies fingers, Beet root, Beans, Cabbage, Carrot, Capsicum, Tomato, Leeks, Radish, Knol Khol, Luffa, Bitter Gourd, Pumpkin), Other (Ginger, Sugarcane, Turmeric)