Berendina Microfinance partners NDB

Berendina Microfinance Institute (BMI) entered into a partnership with the National Development Bank (NDB) recently.

This is the first commercial bank loan that BMI has obtained, a media release from the company said.

BMI initiated negotiations with the NDB in April this year. NDB officials conducted an assessment study by visiting the BMI Head Office and held discussions with the board of directors and senior managers. BMI will use this loan to finance the fourth cycle of business development loans, which include loans for new business ventures and enhancement of business.

Chairman Dulan de Silva and Director Anura Atapattu, endorsed the offer on behalf of BMI in July at the NDB head office.

The Rs. 10 million loan with a repayment of five years is provided through a loan scheme for small and medium enterprises.