Project Financing is involved in evaluating possible aspects and assisting entrepreneurs of a specific project having examined the viability of the project. The idea is to eventually ensure that the country's resources are used to the maximum so as to generate maximum profit, employment generation and possibility of looking at exports.
The main objective of the Project Division is to assist the customers from the enquiry stage to disbursement of funds. The division would be involved in appraisal of project assisting entrepreneurs in selection of plant and machinery as well as to coordinate with large number of branches scattered through out the country.
Whilst the Head Office staff would be mainly focusing on medium to large-scale loans, the Bank has equipped branches and regional offices with specially trained staff to assist the lower end of Small and Medium Enterprises (SME) sector. This arrangement has facilitated to provide an expeditious service to small entrepreneurs whilst providing a highly professional service to large-scale projects.
The Bank expects a conducive environment and more opportunities in project financing activities. Bank has identified the following sectors, which have a growth potential and will concentrate on financing projects in these sectors.
Food & Beverage
Garments
Health Services
Leisure - Local Overseas
Manufacturing
Construction
Power & Energy
Real Estate
Tea & Rubber
The facilities extended by the Project Division (denominated in Sri Lankan Rupees or prescribed Foreign Currencies)
Term Loans
Working Capital Loans
Bridging finances
Overdraft facilities / Letter of Credit / import Loans / Packing Credit /
Guarantees etc related to the project.
Types of Security/Collateral
The facilities are secured by one or more of the following types.
Primary/Concurrent Primary (i.e.Syndicated Loan/Consortium) Mortgage over Project Assets (i.e. immovable and movable).
Corporate/Personal Guarantees of Promoters, Bank Guarantees.
Joint & Several Personal Guarantees of Directors (in Private/Unquoted)
Assignment of Rights and Pledge of Shares of the Project Company.
Letters of Comfort from Promoters
Borrowing Bond Resolution adopted by the Board of Directors (Limited Liability Companies).
Contact Person:
Mr. I.H.A. Wickramasinghe, Chief Manager - Project Finance
Tel : 2661756
Fax : 2662756
email : indrajiw@hnb.lk
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