As a timely solution to boost the local economy and to financially stabilize the nation as a whole amidst the Covid-19 pandemic, NDB proudly launched ‘NDB Jayagamu Sri Lanka’ as a platform to lend support to Small & Medium Scale Enterprises (SMEs), emerging exporters, aspiring entrepreneurs and enthusiastic innovators of Sri Lanka.
Since the launch of ‘NDB Jayagamu Sri Lanka’ the Bank has been working with its partner organisations such as the Export Development Board (EDB), Cord 360, Maersk (Pvt) Ltd, Codevus (Pvt) Limited – ERP service provider, Thinkcube Solutions (Pvt) Ltd – ERP service provider and Sri Lanka@ 100 in order to provide a boost to the country’s exporters and innovators in order to assist the country in post-COVID revival.
Through this, both financial and non-financial services were offered to encourage and facilitate entrepreneurs, exporters and innovators even amidst the first and second waves of the pandemic.
Since the beginning of the year 2021, ‘NDB Jayagamu Sri Lanka’ organized and successfully concluded a number of awareness programs, webinars, training programs and other non-financial advisory services for the country’s exporters and innovators.
Among the activities conducted are awareness programs for members of “Shilpa sabawa” and the members of “Women International Foundation” in addition to participating in networking events conducted by SL @ 100 and “Start-up council” and conducted training programs for the Entrepreneur Center at the University of Colombo. The Bank also participated as a facilitator to southern road show organized by ICTA, SME forum North and East conducted by Ceylon Chamber of Commerce, Sabaragamuwa regional event conducted by ICTA, SME Exporter forum organized by “Meda Mawatha” and as a panelist member in the “Rating Model for Technology Companies”.
NDB Bank recognizes the potential for transformation in the country’s exporters, entrepreneurs and inventors because the Bank believes the key to Sri Lanka’s economic resurgence lies with them. Thus, in an effort to uplift this target group, the Bank under the Jayagamu Sri Lanka initiative also conducted webinars on “Book Keeping, Project proposals and overcome challengers”, “Business Digitalization” and “Mental Health and best practices of banking”.
The uniqueness of “NDB Jayagamu Sri Lanka” is that it is more than just a loan scheme with loan approval in seven working days to assist entrepreneurs, exporters and innovators of the country. It is also a platform in which they will receive a boost to kick start their businesses as well as a place in which they will receive the support and the means to create new innovative ways to sell their wares. NDB, along with nearly 10 non-financial service and solution partners, will continue to assist SMEs, innovators and exporters with financial and non-financial support.
Accordingly, this initiative will continue to provide financial assistance for Sri Lankan exporters in the form of working capital finance to meet the funding requirements of exporters along with facilities such as pre and post-export finance and other trade-related facilities (bank guarantee, letters of credit revolving STLs, FOREX facilities, etc.) Capital Expenditure financing is also offered with concessionary lending rates, funding based on higher LTV on immovable/movable security, funding on acceptable personal guarantees or SLECIC Guarantee, a 25% waiver on all bank charges, approval within 7 working days and obtaining of buyer ratings through NDB Bank from internationally recognized organizations as well as free 1st shipment with Cargo Insurance Cover up to $30,000 (with conditions applied).
NDB Jayagamu Sri Lanka’s non-financial assistance offers businesses with advisory services such as assistance in finding export markets through the Export Development Board (EDB), Sri Lanka Export Credit Insurance Corporation (SLECIC), Chamber of Commerce, Daraz and Code 360.com and trade desk to facilitate exporters. NDB will also assist in facilitating links between prospective clients and local trades to obtain services at discounted prices. In addition to this wide variety of services, NDB also offers a comprehensive Enterprise Resource Planning (ERP) solution to its clients which assists in stock and debtor management, payroll management, cash flow management and other essential accounting functions for SME clients using British qualified advisors. Besides, NDB has also arranged a host of non-financial assistance; including assistance for business registration, patent registration, advisory services on accounting, and legal matters through bank’s expertise. NDB’s Jayagamu Sri Lanka functions with a mission to fill the vacuum caused by the pandemic by empowering aspiring entrepreneurs, exporters and innovators who are key to steer the country on a new path of recovery and growth.
As a leading bank offering innovative and inspiring financial solutions to all its customers, NDB Jayagamu Sri Lanka is a timely solution that meets and exceeds the needs of its customers and the local economy. With a vision to build a financially empowered nation with booming businesses and dynamic trade activities, NDB has been a front runner and a pioneer in delivering efficient, effective and enhanced solutions, services and banking experiences to all its loyal patrons. Its deep-rooted core values drive constant excellence and its longstanding clientele stands as a testament to the bank’s determined growth and success over the years.
The Bank which was awarded the “Sri Lanka’s Best Bank 2021” by the prestigious Global Finance Magazine of USA, and “The Bank of the Year Sri Lanka”, by The Banker Magazine UK is the 4th largest listed bank in Sri Lanka and the parent company of the NDB Group. The only financial services conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan financial market to provide its customers seamless access to the product and service offerings of all its group companies.