DFCC Bank introduces ‘DFCC Sahanaya’, a new concessionary loan scheme for Sri Lankan SME Exporters
June 15, 2020
DFCC Bank recently launched the ‘DFCC Sahanaya’ concessionary loan scheme aimed at providing relief to the export-related businesses.
Identifying a significant need in the market owing to the negative impact of the COVID-19 pandemic on the local business sector, and the country’s small and medium-sized exporters in particular, DFCC Bank introduced this latest product in hopes of aiding the revival of the sector in the island. The new loan scheme amounting to approximately LKR 2 billion will be extended to export-related, export-oriented customers in order to provide immediate relief and encourage them to avail market opportunities of the future.
The Bank will provide loans of approx. LKR 5 – 25 million to eligible businesses under this new scheme, at an interest rate of 9% per annum. With a maximum loan tenure of 4 years, DFCC Bank will offer term loans and permanent working capital loans through DFCC Sahanaya.
DFCC Bank CEO Lakshman Silva commented, “The banking sector, like many other industries around the world, is currently facing significant challenges due to COVID-19. People’s businesses, lives, families, communities and economies are being adversely affected. As a bank committed to the well-being of all Sri Lankans, we felt a calling to provide special assistance to the export sector at this time. As the backbone of Sri Lanka’s rural economy, SME business owners play a vital role, so we hope this new credit line will help them emerge from this crisis period with renewed confidence and optimism about the future of their businesses.”
As a premier commercial bank in Sri Lanka, DFCC Bank has been introducing new products and services to customers during this crisis period, especially targeting those who are directly affected by the COVID-19 pandemic. Playing its dedicated role as the ‘Bank for everyone’, DFCC Sahanaya aims to assist exporters who failed to obtain low-cost funding under CBSL Saubhagya COVID-19 Credit Scheme due to limited availability. Through this DFCC Bank hopes to assist our existing & prospective clients who have extensively contributed to the economic growth of the country & are affected by the local & global pandemic. Through this effort the bank is expecting to foster all those successful entrepreneurs through mutually beneficial activities beyond the bank/ client relationship which is considered the cornerstone of the bank.
DFCC Bank is a full-service Commercial Bank that offers a gamut of commercial and development banking services. The Bank was ranked amongst Business Today’s Top 30 Corporates in Sri Lanka and was also positioned amongst Brand Finance’s Top 100 Most Valuable Brands, 2020. DFCC Bank is rated A+(lka) Stable by Fitch Ratings Lanka Limited.