LDB offers loans for brand building

Lanka Puthra Development Bank will offer loans for Brand Building to the members of Mawbima Lanka Padanama (MLP), said Chairman LDB Sarath A. de Silva.

He said that this is the first time a bank in Sri Lanka is giving loans for Brand building. These loans are given only for brands born and nurtured in Sri Lanka to further build their brands and to be competitive internationally.

He said that in the present scenario brand building is more important than before.

He said loans will be given for manufacturing and exporting institutions for brand building locally as well as internationally.

The maximum amount of the loan is Rs. 10 million and institutions located outside the western province including companies in Kalutara will have to pay an interest of 12 percent per annum while the companies located in the western province will have to pay 17 percent per annum while the repayment period is 7 years. De Silva said that loans will be given under two categories. A company with an annual turnover of over Rs. 100 million and over 100 employees can get a maximum amount of Rs. 10 million. A company with an annual turnover of over Rs. 60 million and over 50 employees can get a maximum amount of Rs. 5 million.