The enhancements to business finances announced by BML are a significant step forward in the banks commitment to the Maldivian business community.
BML
Bank of Maldives has announced positive changes to its financing products to support the growth and success of businesses across the country:
Real Estate Financing
• Minimum equity reduced from 30 percent to 20 percent
• Payment period extended from 15 to 20 years
• Long-term lessees, contractors, real estate developers, companies, government institutions, and other registered legal entities can now apply for financing to construct projects under long-term lease agreements
Guest House Financing
• Guest house proposed for the financing can now be listed as sole security
• Guest houses operating for over 2 years can access financing at 11 percent
• New guest houses can access financing at 12 percent
Working Capital Financing
• Businesses can access financing up to 2.5 times more than the average monthly sales
• Eligibility criteria relaxed to accommodate more businesses
Today's announcement represents a significant step forward in our commitment to the Maldivian business community. By making financing more accessible and offering improved terms across multiple sectors, we are providing businesses with the financial support they need to expand, innovate and thrive in today's dynamic market.
