The financing limits have been increased for Asset Financing, Business Expansion Financing, and Vessel Financing, which cater to both startups and existing businesses.
SME Digital
SME Digital, established to provide financing solutions for small and medium-sized businesses in the Maldives, has increased the financing limits of three of its key financing facilities to up to MVR 10 million.
The financing limits have been increased for Asset Financing, Business Expansion Financing, and Vessel Financing, which cater to both startups and existing businesses. The limits for these financing facilities, previously provided up to 5 million, have been increased to 10 million to facilitate opportunities and meet the financing demands of the Maldives' rapidly growing small businesses.
• Asset Financing is a facility offered to start-up and existing businesses to acquire fixed assets.
• Business Expansion Financing is targeted at businesses that have been in operation for the past two years. The increase will enable businesses to expand their businesses by making capital investments and accessing new markets to increase revenue and expand their operations.
• Vessel Financing is a facility offered to support the purchase or construction of vessels and vessel mechanisation. In addition to fishing vessels, the facility provides opportunities to procure Dive dhoani, Sport fishing vessels, and Excursion vessels.
SME Digital firmly believes that providing small businesses with sufficient financing opportunities to achieve their expansion goals is crucial to their growth and development. This enhancement is expected to further support businesses in strengthening their operations, increasing capacity, and exploring new growth opportunities.
Financing limits must not be a barrier to business growth. This enhancement responds to the needs of the business community and reflects our commitment to supporting their ambitions. As a long-term financing partner, SME Digital will continue to help businesses strengthen and expand their operations and achieve sustainable growth.
Interested customers can apply for these facilities through the SME Portal on SME Digital's website, www.smedigital.mv.
