The SME Development Finance Corporation (SDFC) has announced that applications for its Viyafaari Ehee Loan will open on 16 March, providing financial support to small and medium enterprises (SMEs) facing daily operational challenges.
The Viyafaaru Ehee Loan is designed to offer financial relief for businesses struggling to manage routine expenses. According to SDFC, businesses that have been operating for at least one year without interruption are eligible to apply.
The loan can be used to cover various day-to-day expenses, including the purchase of goods and other essential operational costs. Businesses can apply for amounts of up to MVR 1.5 million under the scheme. Loans exceeding MVR 700,000 will require a mortgage as collateral.
The loan will be offered with an interest rate of 9.5% per annum. Borrowers will also be eligible for a maximum grace period of six months, and they will have up to five years to repay the loan.
SDFC, which was established in 2019, plays a key role in supporting Maldivian entrepreneurs and SMEs by providing financial solutions to help businesses start, sustain operations, and expand.
This latest initiative aligns with the corporation’s ongoing efforts to strengthen the SME sector by offering targeted financial support to address cash flow challenges and ensure business continuity.
