Seylan Bank Introduces ‘3-Day Loan Decision’ to Help SMEs Access Financing Faster

Seylan Bank PLC has introduced a new feature to its SME loans portfolio, offering loan decisions within three working days for facilities below Rs. 25 million, once the required documentation is submitted. The initiative is designed to address one of the most common challenges faced by small and medium enterprises (SMEs) – lengthy waiting periods to determine the outcome of loan applications.

For many SMEs, delays in loan processing can create uncertainty and disrupt business planning, particularly when working capital is required urgently. Businesses often wait several weeks to receive a response from financial institutions, making it difficult to manage operational expenses or respond to emerging opportunities. Recognising this challenge, Seylan Bank has introduced the 3-day loan decision commitment to provide faster clarity and improve access to financing.

The three-day decision applies to SME facilities below Rs. 25 million and covers products such as the ‘Atha Hitha’ Loan, ‘Dinana Aya’ Loan, and the Bank’s specialised working capital loan schemes. By streamlining internal processes and strengthening evaluation mechanisms, Seylan Bank ensures applications are reviewed and an initial decision on eligibility is provided within three working days.

Seylan Bank has also joined the Government of Sri Lanka and the Asian Development Bank (ADB) in supporting the National Credit Guarantee Institution Ltd. (NCGIL), a national initiative designed to improve access to finance for Micro, Small, and Medium Enterprises (MSMEs) that lack adequate collateral. Through this programme, MSMEs can obtain loans ranging from LKR 500,000 to LKR 25 million, with NCGIL providing guarantees of up to 67% of the loan amount, enabling banks to assess businesses based on cash flow and viability rather than asset security.

The initiative also introduces the LIYA SHAKTHI Guarantee Scheme, which offers enhanced guarantee coverage of up to 80% for women-owned or women-led MSMEs. By expanding access to credit for entrepreneurs across priority sectors such as manufacturing, tourism, agriculture, IT, and exports, Seylan Bank aims to support inclusive economic growth and strengthen Sri Lanka’s MSME sector.

This initiative aligns with national efforts to strengthen the SME sector and expand financial inclusion across the country. With a strong islandwide presence across 171 branches, Seylan Bank operates 13 dedicated SME hubs that provide efficient and specialised services. SME Relationship Officers also offer doorstep assistance, supporting clients with consultations, documentation, and financial planning to simplify the borrowing process.

By reducing approval timelines, Seylan Bank aims to support SMEs in meeting urgent financial requirements, maintaining business continuity, and capitalising on growth opportunities without unnecessary delays. The Bank continues to expand its SME-focused solutions to ensure businesses have the financial backing needed to contribute to the country’s economic progress.