The Bank of Ceylon (BOC) has introduced the Youth Loan Scheme, aimed at nurturing the entrepreneurial drive among the youth. This initiative offers a favorable interest rate of 7% per annum, striving to fuel the aspirations of young innovators and future business leaders.
With a loan amount of Rs. 500,000, the Youth Loan Scheme endeavors to empower 10,000 young individuals, fostering a new generation of entrepreneurs. BOC emphasizes that this program is not just about financial aid but about cultivating a culture of entrepreneurship.
What sets the BOC Youth Loan Scheme apart is its inclusivity. Unlike conventional loan schemes, it doesn’t demand hefty collateral like property mortgages, making it accessible to young visionaries with promising ideas but limited assets.
R.M.N. Jeewantha, DGM of Development Banking and Branch Credit Operations Range 11, expressed BOC’s commitment to fostering innovation and embracing a positive mindset. Regardless of financial backgrounds, individuals under 30 with innovative business ideas are encouraged to explore the opportunities offered by the BOC Youth Loan Scheme.
BOC encourages young entrepreneurs to seize this opportunity and not let financial constraints hinder their dreams. They are invited to visit the nearest branch and embark on their entrepreneurial journey with the support of the BOC Youth Loan Scheme.