Central Bank extends deadline for cheap working capital loan applications to Sept 30

The deadline for applications for the 4% Working Capital Loan Scheme has been extended till September 30 according to a decision taken by the Central Bank’s Monetary Board at its meeting on August 19.
 
COVID-19 affected businesses and individuals can submit their loan applications under the Saubagya COVID-19 renaissance facility to respective licensed banks until the new deadline, the bank said in a media release on Friday.

Meanwhile, the Central Bank surpassed the milestone of Rs. 100 billion loans on August 18, approving Rs.100,017 million worth of loans submitted by 36,489 applicants under the above facility. Out of approved loans, licensed banks have already disbursed more than Rs. 68.5 billion among 25,365 affected businesses and individuals island-wide as of August 18. 

Out of Rs. 100 billion approved under the Scheme, 50 per cent has been provided to businesses in the services sector, led by trade services, while distributing 34 per cent and 16 per cent among businesses in the industry sector and the agriculture sector, respectively. 

The Commercial Bank and the Bank of Ceylon topped the  
total loans disbursed by licensed banks so far.