New Working Capital and Refurbishment Loan Scheme for Tourism Sector

Purpose

To meet the working capital and/or refurbishment requirements of individuals and businesses providing services to the tourism sector for one year.

Eligible Borrowers

• Tourism sector individuals and businesses registered with any of the following institutions*:
      a)  Ministry of Tourism 
      b) Sri Lanka Tourism Development Authority (SLTDA)
      c)  Agencies under SLTDA 
      d)  The Hotels Association of Sri Lanka
      e)  Department of Cultural Affairs 
• Individuals and businesses registered with Local Government Authorities (Pradeshiya Sabha, Urban Council, Municipal Council) willing to register with above-mentioned institutions* prior to granting of the loan
• Individuals and businesses having a valid business registration to provide services to the tourism sector
• Individuals and businesses engaged in tourism related activities with documentary evidence of such activities

Maximum Loan Amount

• Maximum of one year working capital requirement and/ or cost of refurbishment
• Maximum loan amount should be decided considering the repayment capacity and should not exceed 100% of the reviewed Force Sale Value (FSV)

Maximum Repayment Period

• 3 years, including one year grace period