Step-by-Step Guide
We've made the process as simple as possible. From first inquiry to funds in hand — typically just 5–7 business days.
Basic Requirements
We welcome applications from anyone with a business idea or existing operation. We assess your situation holistically — not just your credit score.
Age
18 to 65 years old. Youth entrepreneurs aged 15–17 may apply with a guardian.
Citizenship
Sri Lankan citizen or permanent resident with valid NIC or passport.
Business Activity
Existing business OR a concrete business plan for new entrepreneurs.
Residence
Must live within 25km of a NovaMicro branch (see our Branch Locator).
Credit History
No active defaults. Past difficulties considered with explanation.
Our Assessment
We go beyond traditional credit scoring. Our loan officers conduct a personal interview and assess:
Character & Reputation
30%Community standing, references, repayment history with other lenders
Capacity to Repay
35%Current income, business cash flow projections, family expenses
Capital & Savings
15%Existing savings or assets that show financial responsibility
Business Conditions
20%Market demand, business location, local economic environment
💡 First-Time Borrower?
Don't worry if you have no credit history. We have a special First-Time Borrower track with smaller initial loan amounts and free financial coaching to help you build your credit profile with us.
The Process
Five steps. Typically 5–7 business days from first contact to funds in your account.
Day 1
Visit any branch, call us, or fill out our online contact form. Tell us about your business idea and the amount you'd like to borrow.
Day 1–2
Complete our simple application form (15 minutes). Bring your NIC and any business documents. Our staff will help you fill it out.
Day 2–3
Our loan officer visits your business location or home for a brief, friendly assessment. No judgment — just a conversation.
Day 3–5
Our credit committee reviews your application. We provide a clear decision — approved, approved with conditions, or declined with explanation.
Day 5–7
Sign your loan agreement, attend a brief orientation, and receive funds via bank transfer or cash at our branch. Welcome to the NovaMicro family!
Preparation
Don't have everything? Come anyway — our staff will guide you.
No problem. We can disburse cash at any of our branches. We'll also help you open a basic savings account if you'd like to start building a banking history.
Yes. We review every application on its own merits. A past decline — even from NovaMicro — doesn't automatically disqualify you, especially if your situation has changed.
After repaying at least 50% of your first loan on time, you may apply for a top-up or second loan. Loyal borrowers with clean repayment histories qualify for larger amounts and better rates.
Contact us immediately. We'd rather restructure your loan than see you struggle. Transparent communication is key — we have hardship programs for genuine difficulties.
Absolutely. Your information is protected under our privacy policy and Sri Lankan law. We never share your data with third parties without your consent.
None. Before you sign, we give you a complete cost disclosure showing exactly what you'll pay each month and in total. Our interest rate, any processing fee, and insurance are all disclosed upfront.
Visit your nearest branch or fill out our online inquiry form. Our team is ready to help.