DFCC Bank has introduced various products and services to specifically cater to the needs of SMEs.
These products complement the gamut of existing services such as term loans, leasing facilities, hire purchase facilities, guarantee facilities and consultancy, workshops and advisory services to SMEs and budding entrepreneurs.
One such example was the launch of the ‘DFCC Sahanaya’ concessionary loan scheme aimed at providing relief to SMEs in the export-related sector.
Under the scheme, the bank disbursed loans and permanent working capital loans at a low annual interest rate of 9 percent, providing immediate relief to export-related businesses.
It also aimed to assist exporters who failed to obtain low-cost funding under the Central Bank’s Saubhagya COVID-19 Credit Scheme due to limited availability.
DFCC Bank is also among the preferred banks to on-lend Asia Development Bank’s (ADB) funds to SMEs.
Under the ADB-funded Emergency Response Working Capital Loan Facility for Covid-19 affected SMEs, the Bank has been disbursing loans to SMEs up to Rs 10 million at 4.75 percent interest rate with repayment period up to three years including a six-month grace period.
DFCC Bank engages with SME customers in a very hands on manner. The bank goes through the business plan of the customer and even analyses cash books to create a financial framework.
DFCC Bank will continue to add value to its SME clients by identifying potential customers in growth sectors, cultivating relationships, and spreading insight through seminars and workshops.