SME Development Finance Corporation private limited (SDFC) gave out USD 97 million targeted to Small and Medium Enterprises (SMEs).
These loans were given to 1,203 businesses of which USD 21 million were issued to 301 women-led businesses. SDFC issues loans to businesses in eight sectors, which are agriculture, commercial, fisheries, tourism, travel and transport, manufacturing, industrial, and information technology.
Since the inception of SDFC, the corporation has given loans to businesses situated over 100 islands with the goal of developing island businesses.
SDFC was established in 2019 as a specialized financial institution providing financial products and ancillary services to SMEs and entrepreneurial start-ups with the primary purpose of easing access to finance for SMEs.