Introduction to Female Entrepreneur Corporate Current Account
Introduction to Female Entrepreneur Corporate Current Account
The female entrepreneur corporate current account is dedicated to providing an extensive range of financial products and services to empower female entrepreneurs.
Prioritise strategic partnerships with various female-focused associations and organisations to offer tailored support and enable women to achieve their business objectives.
Our goal is to foster economic growth, promote gender equality, and fortify the presence of female entrepreneurs within the business sector.
Click here to know more about DFCC Aloka.
Eligibility
Eligibility
- Female sole proprietors with registered businesses
- Businesses with ownership or shareholding exceeding 50% held by women
- Minimum deposit requirement: LKR 10,000
Key Features of Female Entrepreneur Current Account
Key Features of Female Entrepreneur Current Account
Special Rates for lending products
- Leasing – 1% less than the standard published rate
- Pawning – 0.5% less than the standard published rate
- Term Loans – 0.5% less than the standard published rate
- Project Loans – 0.5% less than the standard published rate
- DFCC I connect fee – 50 % of the standard start up fees
- Bank Guarantee – 0.5% less than the standard published rate
- Permanent Overdraft – 16%
- Revolving short term loans for SMEs –AWPLR 3.5%
Special benefits
- Loans granted at lower rates under refinance credit lines
- Small and medium sized enterprises finance project – SMELOC 2
- Government funded loan scheme
- Special loan schemes for small and medium-sized enterprises
| Credit Line | Enhancing Small and Medium – Sized Enterprises Finance Project (SMELOC 2) – Revolving |
Stimulating package for Reenergizing the MSME sector |
SMELoC 2 |
|---|---|---|---|
| Eligible sectors | Financial and Employee Criteria: The borrower (Including the parent company and any subsidiaries) must have: • Annual Turnover less than 1 Billion and less than 200 employees Relationship Criteria: The borrower must not be a related party to the board or senior management of the Participating Financial Institution (PFI). Types of Loans: 1. Investment Loans 2. Non-Collateralised working capital Loans 3. Joint Loans (Combination of investment and Non-Collateralised working capital loans) Special conditions for Colombo District: SME’s in the Colombo District are eligible if they are women led enterprises, first time borrowers or non-collateralised working capital loans |
Manufacturing, Construction, Export-oriented, Tourism, Apparel, Fisheries, Animal Husbandry, Agriculture, Agro based culture and all women-led any SME with group turnover less than LKR 1 Bn | Agriculture, Tourism, Manufacturing, Technology, Export-oriented any MSME and women-led any SME with group turnover less than LKR 1 Bn |
| Interest rates | 8% p.a.(Fixed) | 7% p.a. | 8% p.a. |
| Purpose of Loan
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| Tenure | Investment Loans & Joint Loans Maximum 10 years including 02 years grace period Non-Collateralised Working capital (WC) Loans Maximum 2 years, no grace period |
10 years | 3 years |
| Loan amounts | • Rs. 50 Mn. • Single borrowers can obtain multiple loans from various banks, with a total loan cap of Rs.50 million For joint loans (Comprising investment and non-collateralised working capital loans): • The working Capital loan portion must be less than 50% of the total loan amount |
Maximum LKR 15 Mn | Maximum LKR 10 Mn |
| Eligibility | Micro, Small and Medium Enterprises (MSMEs) should be registered or have applied for registration Permitted Sectors: All types of micro & SME projects are permitted except trading, leasing and renting |
Registered SME or Individual (Excluding trading, renting, leasing) | 8% p.a.Registered SME (Excluding trading, renting, leasing) |
| Loan institution | ADB funded | Government funded | ADB funded |
For more details, please contact Renuka- 0768 756 894
Other Benefits
- POS machines and payment Gateways – Faster transaction processing and immediate funds to DFCC own business current account
- Corporate Credit Cards
Non Financial Benefits
- Networking Events and Forums
- Access to Special Funding
- Workshops and Training Sessions
- 24-Hour ALOKA Hotline: Access dedicated banking support and assistance around the clock in three languages
Frequently Asked Questions (FAQs)
Frequently Asked Questions (FAQs)
1. What is the DFCC Female Entrepreneur Current Account ?The DFCC Female Entrepreneur Current Account is a financial service under DFCC Aloka, designed to support female entrepreneurs by offering a range of banking products and services, alongside strategic partnerships and non-financial benefits.
2. Who is eligible to open this account?
- Female sole proprietors with registered businesses.
- Businesses with over 50% ownership or shareholding by women.
3. What is the minimum deposit required to open this account?A minimum deposit of LKR 10,000 is required to open the DFCC Female Entrepreneur Current Account.
4. What are the key financial features of the account?
- Leasing – 1% less than the standard published rate
- Pawning – 0.5% less than the standard published rate
- Term Loans – 0.5% less than the standard published rate
- Project Loans – 0.5% less than the standard published rate
- DFCC I connect fee – 50 % of the standard start up fees
- Bank Guarantee – 0.5% less than the standard published rate
- Permanent Overdraft – 16%
- Revolving short term loans for SMEs –AWPLR 3.5%
5. What are the available special loan schemes?
- Loans granted at lower rates under refinance credit lines
- Small and medium sized enterprises finance project – SMELOC 2
- Additionally, government-funded loan schemes are available to support eligible businesses.
- Special loan schemes for small and medium-sized enterprises
6. What payment services are available?
- POS Machines and Payment Gateways: Faster transaction processing and immediate transfer of funds to DFCC business accounts.
- Corporate Credit Cards:Manage business-related expenses efficiently.
7. What non-financial benefits are provided?
- Networking Events & Forums: Opportunities to connect with other entrepreneurs.
- Access to Special Funding: Priority access to funds designed for female-led businesses.
- Workshops and Training Sessions: Skill development programs.
- 24-Hour Aloka Hotline: Support in three languages for account-related queries and assistance.
8. Are there any partnerships with female-focused organizations?Yes, DFCC partners with various female-focused associations and organizations to provide tailored support and guidance to women entrepreneurs.
9. What are the main objectives of the Female Entrepreneur Current Account?
- Empower female entrepreneurs to grow their businesses.
- Promote gender equality in the business sector.
- Promote gender equality in the business sector.
10. How can I learn more about DFCC Aloka and the Female Entrepreneur Current Account?You can find more details about DFCC Aloka and its offerings by clicking here or contacting the 24/7 Aloka Hotline for personalized assistance.
