Loan applications to provide financial aid for small and middle-class business are now being accepted at SME Financial and Development Corporation (SDFC). The applications have begun flowing in from the last week of March 2019, said Managing Director of SDFC, Mr. Ahmed Zinakh. He further mentioned that SME would come up with new loan products in the future.
The largest number of application forms received were mostly for “Rashu fathuru” by guesthouses said Mr. Zinakh. “Haru mudhaa,” “Dhanduveri
SDFC was opened with 85% share from the Government of Maldives and 15% from Council. The Equity Requirement is between 15% – 20% while the loan interest rates are between 6% to 9.5%. Further, mortgaging of properties is also accepted for loans. The loans given by the Bank range between MVR 75,000 to 5 million
