FAQs

For SMILE III - RF (10 institutions)

i. Bank of Ceylon (BOC)
ii. People's Bank
iii. Regional Development Bank (RDB)
iv. National Development Bank (NDB)
v. DFCC Bank (DFCC)
vi. SANASA Development Bank (SDB)
vii. Seylan Bank
viii. Commercial Bank
ix. Sampath Bank
x. Hatton National Bank (HNB)

For E-Friends II - RF (11 institutions)

i. Bank of Ceylon
ii. People's Bank
iii. Regional Development Bank (RDB)
iv. National Development Bank (NDB)
v. DFCC Bank (DFCC)
vi. Seylan Bank
vii. Commercial Bank
viii. Sampath Bank
ix. Hatton National Bank (HNB)
x. People's Leasing and Finance PLC
xi. Lanka ORIX Leasing Finance (LOLC)

To the project management unit of the ministry of industries, Head Offices or branches of the Participating Credit Institutions (Banks)

Both loan schemes are operating under the following 3 steps

Step 1
Loan Applications received directly or through the Participating Credit Institutions to the Project Management Unit are referred to the Project Operational Level Committee (OLC).

As per the Operating Instruction, OLC takes decisions as per the request made by the applicant. Decisions will be informed to the relevant banker as per the request by the applicant

Step 2
Refinance loan application and other relevant documents of the applicant who meet the preliminary qualifications for obtaining loans will be forwarded to the PMU. after that PMU review this all loan applications & documents will be allocated fund for the projects that meet all the requirements. 

Step 3
After releasing the loans by the Participating Credit Institutions for the projects, the reimbursement applications are forwarded to the Project Management Unit with the relevant documents. funds are released for those applications by the PMU through the Treasury and the Central Bank of Sri Lanka.

After revealed the reimbursement applications PMU, will forwarded withdrawal application to the General Treasury requesting fund.

For SMILE III - RF loan scheme
Not exceeding assets value of business (excluding land and buildings) Rs. 150 million after completion of the project

For E-Friends II - RF Loan Scheme
Not exceeding assets value of business (excluding land and buildings) Rs. 250 million (high polluting category companies will be considered up to Rs. 500 million) after completion of the project

Eligible industry sectors under SMILE III -RF Loan Scheme

• Coir products
• Rubber products
• Plastic products
• Textile and Garments
• Food processing / beverages and tobacco
• Leather & allied products
• Printing & Paper products
• Wood & Wood products
• Metal products
• Construction materials
• Chemical & Chemical products
• Agro Industries
• Fisheries
• Animal Husbandry / Horticulture / Aquarium
• Manufacturing based service industry
• Other products (pottery / ceramics / glass / handicrafts / pharmaceuticals / jewellery etc)

Loans are granted for the machinery requirements of such industries and for the working capital requirements will be decide based on the industry as per the Operating Instructions

Lending areas under E-Friends II RF Loan Scheme

• All the industries eligible for apply SMILE III loan scheme & other industries & services sectors.
• Industries that produce alternative products instead of environmentally harmful products (eg - Manufacture of pots using natural raw materials such as banana / arecanut instead of plastic pots)

Loans are provided for water treatment plants, biogas generators, paint booth, energy saving machinery/ equipment, emissions control equipment, noise pollution control equipment etc. in such industries.

Note - Lending areas may be change based on the business operations policy decisions of the project.