SDFC

About Us

SDFC was established as a specialized financial institution providing financial products and ancillary services to MSMEs and entrepreneurial start-ups with the primary purpose of easing access to finance for MSMEs.

Our

Vision

The leading financial institution assisting and supporting the development of MSMEs in the Maldives for achieving inclusive, broad-based and robust economic growth.

Our

Mission

Support emergence and growth of MSMEs by providing solutions that cater to the financing needs of MSMEs and are widely accessible to MSMEs across the country.

Our

Philosophy

At SDFC we strongly believe that our customers are the heart of our organization. Our aim is to closely work with our clients in providing superior and high quality services with swift and timely output.

Our

Customers

SDFC encourages and supports local micro, small and medium sized enterprises and entrepreneurial start-ups to contribute to the local communities. We strongly believe in inclusive economic growth for the well-being of the entire population. In this manner, we will give priority to applications from women, youth and people with special needs to ensure that we create opportunities for all.

Priority

Sectors

Our key focus is to develop loan products and enable growth of businesses in the following sectors:

  • Tourism (Local Tourism)
  • Agriculture
  • Manufacturing
  • Information and Communication Technology
  • Fisheries

Financing

Rashu

Fathuru

Rashu Fathuru is introduced with the aim of developing local tourism within the atolls by enabling emerging local SMEs in the private sector to establish themselves in the Maldives tourism industry. Rashu Fathuru will cater to the needs and requirements of new as well as existing businesses looking to take on local tourism opportunities.

CAN BE USED FOR:

Development of new guest houses
Renovation of existing guest houses
Acquisition of completed guest houses
Restructuring of existing buildings to guest houses
Establishment of tourism related businesses (e.g. water sports and diving centers)

KEY FEATURES

Loan amount from
MVR 200,000 to MVR 5,000,000

Interest rates from 6% onwards

Equity of 15 - 20%

Repayment up to 7 years (maximum grace period of 18 months)

Flexible Security Requirement

Viyafaari

Ehee

We at SDFC strongly believes that small businesses need financial support to meet their business needs. Our ‘Viyafaari Ehee’ loan product allows such businesses to meet their short term needs without having to go through the hassle of meeting the rigorous eligibility criteria of other banks.

CAN BE USED FOR:

Trade finance (inventory purchase and short-term working capital)
Financing projects and contracts

KEY FEATURES

Loan amount up to
MVR 500,000 (Maximum 10% of Sales Revenue)

Interest of 9.5% per annum

No Equity required

Repayment of maximum 24 months

Flexible security requirement

Dhanduveri

Nafaa

SDFC is collaborating with Ministry of Fisheries, Marine Resources and Agriculture to provide easily accessible financing options to parties involved in the agriculture sector. Being one of the priority sectors, SDFC gives utmost importance to cater to the needs and requirements of this sector. We believe that the sector growth can be boosted to contribute more to the economy.

CAN BE USED FOR:

Use of technology for farming (urban agriculture, protected farming, vertical farming etc.)
Poultry farming and livestock farming
Agroforestry / Plant nurseries
Value addition activities

KEY FEATURES

Loans of MVR 75,000 without any security or equity requirement

Maximum loan amount for individuals is MVR500,000

Maximum loan amount for co-operatives and companies is MVR2 million

Interest of 6% per annum

Equity of 10 - 15%

Maximum repayment period of 7 years (maximum grace period of 1 year)

Flexible security requirement

Harumudha

Our ‘Harumudha’ loan product allows SME businesses to acquire assets to meet their long term investment needs. The product is specifically targeted towards customers engaged in construction, fisheries, information communication technology and manufacturing sector.

CAN BE USED FOR:

Purchase of new machinery, equipment and vehicles for business use

KEY FEATURES

Loan amount from MVR100,000 to MVR3,000,000

Interest rate from 6% p.a onwards

Equity of 15 - 20%

Repayment period up to 6 years (maximum grace period of 1 year)

Flexible security requirement

Viyafaari

Tharaggee

Our ‘Viyafaari Tharaggee’ loan product caters to the needs of SME businesses in various sectors of our current economy. The product is specifically targeted towards expansion of existing businesses and to encourage long term investments by enabling ongoing businesses to develop and diversify their product range and services.

CAN BE USED FOR:

Expansion of existing businesses
Diversification of product portfolio and services.

KEY FEATURES

Loan amount up to MVR 5,000,000

Interest rate from 4% p.a. onwards

Equity requirement based on the project

Repayment period up to 10 years (maximum grace period of 1 year)

Flexible security requirement

FASHAA

VIYAFAARI

Our ‘Fashaa Viyafaari’’ loan product is targeted towards encouraging entrepreneurship opportunities by providing startup finance to promote investments in the country. It allows new businesses to invest in fixed assets and finance their working capital needs.

CAN BE USED FOR:

Financing new businesses and startup investments

KEY FEATURES

Loan amount up to MVR 2,000,000

Interest rate from 4% p.a. onwards

Equity requirement based on the project

Repayment period up to 10 years (maximum grace period of 18 months)

Flexible security requirement

Businesses in operation for less than 2 years can apply for this product

News

SME Development Finance Corporation Pvt Ltd (SDFC) was issued the Financing Business License by Maldives Monetary Authority on 28th February 2019.

SDFC is owned by the Government of Maldives with shares of 3 City Councils, i.e. Male’ City, Fuvahmulah City and Addu City. The commencement of SDFC’s operations will make it easier for MSMEs to obtain financing to support their businesses while leading to healthy competition between the financial institutions.