HNB PLC has introduced an exclusive range of benefits designed to support both aspiring and established entrepreneurs in Sri Lanka’s ICT sector. The bank’s specialised financial solutions cater to capital expenditure and working capital needs, with facilities available even without collateral, ensuring greater accessibility for tech entrepreneurs.
To date, HNB has provided over Rs. 350 million in financial assistance to ICT businesses, reinforcing its commitment to fostering innovation and strengthening Sri Lanka’s digital economy. Key benefits for ICT business owners include waived joining fees for business cards, exclusive foreign exchange rates for export proceeds, two free airport lounge access passes per year, and the ability to open business foreign currency accounts at any HNB branch. Additionally, HNB is waiving the Rs. 5,000 onboarding fee for its Transaction Banking (HNB TxB) platform, providing streamlined digital trade services.
The initiative has been developed with insights from USAID’s CATALYZE PSD Activity, which collaborated with ICTA and partner banks to design an ICT-specific credit scoring framework. This partnership aims to address financing challenges faced by MSMEs in the technology sector.
HNB also offers capital expenditure loans of up to Rs. 10 million with a repayment period of 36 months at an 8% annual interest rate. Businesses requiring higher loan amounts can access financing at concessionary rates. Additionally, HNB’s export credit facility provides essential funding based on export agreements and buyer reliability, helping ICT companies expand in international markets.
HNB’s initiative aligns with national efforts to grow Sri Lanka’s digital economy to $15 billion by 2030, with industry stakeholders, including FITIS and ICTA, commending the bank’s tailored approach in supporting the ICT sector’s growth.