Welcome to People's Lanka Micro Credit (Pvt) Ltd

No 18/10 , Muhandiram E Dabare Mawatha,
Evergreen Park Road, Colombo 05

Mon-Fri: 0800-1700
Saturday & Sunday Closed

It is an association created with group of people to fulfill their financial needs. (Granting of loans and collecting repayments needs to be discussed and decided on the weekly gatherings of the members )

loans are granted on personal gurantees . The same needs in weekly installments basis and transactions are make through a team and an associate.

Concept - Grameen
Concept Inventor - Professor Muhammath Yunus
Contry - Bangaladesh
Awards - Nobel peace prize 2006
  1. Only female customers will be granted the member ship .
    Qualifications : Age range 18 -55.
    Operating a family business (legal )
  2. Groupings
    • Three Members in each group based on personal guarantee.
    • 06 to 10 Groups in anassociation.
    • Family Members are not allowed be with in the group . (Mother,Daughter,Sister,inlaws....etc )
  3. Operate the approved association at a public place.(Temple,Church...etc )
  4. Collection of repayments and maintenance of attendance need to be started from the weekly after the first week of loan disbursements.
  5. Insurance and documentation fees need to be charged before the loan disbursement.

If there are more than 6 members in the association and once the placement of president and secretary is completed, the first loan can be granted to everyone at the same insurance.
Eg:-

Client - 18
Loan Size - Rs. 40,000.00
Invest Amount - Rs. 720,000.00

Disbursement of second & further loans

  • 90% Attendance needs to be maintained
  • Previous Loans taken should be fully settled.
  • Next loan can be granted based on the customer need.( It is necessary to take three months to pay off the previous loan amount)
  • The loan Amount is always decided on the status of the business and the income.

Loan Procedures 01 (Group Loan)

First Loan Amount Rs. 40,000.00
Second Loan Amount Rs. 60,000.00
Third Loan Amount Rs. 80,000.00
Fourth Loan Amount Rs. 100,000.00

Interest Rate 23 %
Loan Period 01 Year
Document & Insurance Charges Rs. 600.00 (>60,000.00 )
01 % of Loan Amount (<60,000.00)
Rental Collection Weekly
  1. Collect the address verification (Gramasewaka Certificate,Utity Bills...etc)
  2. Use of loan applications, Promissory Notes, Credit & Guarantee Bonds.
  3. Issue of an insurance policy before the same group.
  4. Avoid of an blood relatives to be in the same group.
  5. Engage only the profit making business holders.
  6. Two or more people are not allowed to apply loans for the same business.
  7. Collect information by cheking the status of business places & residences individually.
  8. Loan repayments by should be collected on weekly gatherings. (No online cash transfers,cheques..etc)
  9. Follow Up
  10. Check the crib Report
  11. Collect a copy of business registration if needed
  12. Complaint to the police,consultation of mediation boards or legal actions can be taken if needed
  13. The risk engages is further minimal due the reasons listed below.
    • Small amount of meney is divided between few people
    • The loan is collected in small amounts within a period of one year.
    • Increase of the loan amount is processed in steps
  1. Benifiter - Client and Business Partner
  2. It is mandatory to buy the insurance in any loan
    Loan amount Premium
    Rs . 60,000.00   < Rs . 300.00
    Above Rs . 60,001 Rs . 01 %
Period 09 Months
No of Loacations 03
No of staff 21
No of Mcs 165
No of Clients 5000
Invest Amounts 150M
Monthly profit income after 07 months Rs. 450,000.00

We are available for you if you have any query related investment...

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