This newly introduced facility enables existing businesses across all sectors to conveniently access financing for assets that enhance productivity.
SDFC
SME Digital has launched a new financing facility, now open for applications, to support MSMEs in acquiring essential business assets.
This newly introduced facility enables existing businesses across all sectors to conveniently access financing for assets that enhance productivity, such as machinery, equipment, business vehicles, and vessel mechanisation.
Businesses can access Shariah-compliant financing ranging from MVR 100,000 up to MVR 5,000,000. An unsecured facility is offered up to MVR 1,000,000 with a 7-year tenure, including a 6-month grace period, while a secured facility provides a tenure of up to 10 years with a 12-month grace period. The annual profit rate ranges from 9% to 10.5%. Designed for flexibility and accessibility, this financing solution supports businesses in expanding operations, improving efficiency, and strengthening their overall contribution to the economy.
The purpose of this financing is to revitalize the economy and provide a solution to the financial challenges faced by existing businesses. We aim to provide a practical and timely solution, improving productivity, and empowering businesses to acquire new equipment and machinery needed to expand into new markets. We hope this financing will support stronger, more resilient businesses and contribute meaningfully to the nation’s economic progress.
In addition to the newly introduced financing product, SME Digital is also developing a dedicated solution to support vessel purchases and construction.
Applications for the new asset financing facility is now open through the SME Portal at www.smedigital.mv
