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The “Ayomi” Loan Initiative for women entrepreneurs has been introduced as a strategic financial inclusion product to empower women led micro and small businesses across Sri Lanka. This product aims to improved access, affordable financing while strengthening sustainable entrepreneurship and community development
A Business shall be considered women led if :
or
II . Has over or equal to 1 female as a major decision maker, and
III. Has over or equal to 30% of the board of directors comprising of females where a board exist.
Structured Entrepreneurs
Women entrepreneurs who possess valid business registration and proper management records, operate with well structured business processed, and maintain basic financial statements or financial records.
Grass-root Entrepreneurs
Women entrepreneurs who operate at a micro scale, who are home based and informal in nature and function without formal business registration.
As per approved rate structure based on loan amount and tenure
| Loan amount (Rs) | Repayment tenure & Interest rate (Fixed 5 Years) | ||
| Up to 1 year | Up to 2- 3 years | Up to 3 – 5 years | |
| Up to 1Mn | 10% | 10.5% | 12% |
| Above 1 Mn | 11% | 11.5% | 13% |
Maximum tenure of 60 months ( including grace period)
Grace Period : Up to 6 months (depending on project nature)
Collateral : Movable/immovable assets or guarantor
Up to Rs. 0.5 Mn – 02 Guarantors
Over Rs. 0.5 Mn to 0.999 Mn – Minimum 1 guarantor & a simple lodgement
Over or equal 1 Mn – Mortgage
The Maximum Age of the borrower shall be 65 years as on date of maturity of the loan.
Processing Time : Within 7 working days of completed documentation.
Disbursement : Direct credit to supplier or customer account.
1. Applicants who maintain a Kotipathi, Diriya or Abhimani saving account in a satisfactory manner will be eligible for an interest rate reduction of 0.25% from the fixed rate applicable to their loan facility.
the account must be maintained as follows, to be considered satisfactory
Kotipathi or Diriya account – Active for at least 6 months prior to loan approval.
Abhimani Account – Minimum monthly balance of Rs. 10,000.00 and active for at least 1 year. And the account must show regular transaction activity.
2. Podihitiyo Children’s Savings Account
“Podihitiyo “ accounts will be opened for the children of Ayomi borrower, promoting early financial discipline and future-oriented savings within the family.
3. Village-to-Home Program Participation
Eligible women entrepreneurs will gain access to the Village-to-Home platform, enabling them to promote their goods and products directly at the Cargills retail outlets, ensuring long-term business exposure.
4. Business Profile Promotion
Feature successful borrowers on the bank’s website, social media providing free marketing and credibility for their businesses.
5. Financial Literacy and Business Skills Development
Regular training programs will be organized through the Agri & Micro Finance Division in partnership with relevant stakeholders to enhance bookkeeping, financial planning, and digital banking knowledge.
All loan application under the “Ayomi” Loan product initiative shall be supported by both general mandatory documents and product specific documents as detailed below
1 General Requirements
DTAP insurance to be obtained for the applicant and to be assigned in favor of the Cargills Bank.
All other documents required for facility processing shall be obtained in accordance with prevailing credit policies.
2 Product specific Requirements
2.1 . For Structured Entrepreneurs:
For Grass-root Entrepreneurs (Non-BR Holders):
