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

Financing projects and contracts

Loan amount up to MVR3,000,000

Interest of 9.5% per annum

Repayment period up to 5 years for working capital financing

Additional security required for loan amount above MVR1,000,000

Business should be in operation for a minimum of 1 year

Businesses in operation for less than 2 years will be applicable for a maximum loan amount of MVR1,000,000

Business in operation for 2 years and more, will be applicable for a maximum loan amount of MVR2,000,000

Finance up to 60% of total contract value

Interest of 9.5% per annum

Customers will be required to service monthly interest payments during the loan tenor

Repayment period up to 12 months (inclusive of the project tenor and a maximum of 3 months)

Use of technology for farming (urban agriculture, protected farming, vertical farming etc.)

Poultry farming and livestock farming

Agroforestry / Plant nurseries

Value addition activities

Loans of MVR 100,000 without any security or equity requirement

Maximum loan amount for individuals is MVR 2,000,000

Interest of 6% per annum

Equity of 10 - 15%

Repayment period up to 7 years (Maximum grace period 12 months)

Additional security required for loan amount above MVR1,000,000

Purchase of new machinery, equipment, vessels and vehicles for business use

Loan amount from MVR100,000 to MVR5,000,000

Interest rate from 4% p.a onwards

Equity requirement based on project (maximum 20% of the total project)

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

If loan amount exceeds more than MVR 1,000,000 SDFC accepted security mortgage required.

Business should be in operation for a minimum of 02 years (exclusive of newly purchased vessels)

Purchase and renovation of all types of vessels, including startup businesses (Acquisition of new vessel, renovation of existing vessel, mechanization of vessel)

Financing will not be granted for vessels operated for fishing and cargo (logistics vessels) which are aged over 5 years (from the registration date)

Maximum MVR 2 million financed for vessels used over the age of 05 years (Excluding vessels used for Fishing, Cargo vessels) with satisfactory independent valuation.

Startup projects for passenger ferry services in areas with MTCC speed ferry service network is established and is to be established, will not be financed

Ice plant projects in locations where Government has commenced or planned for installation of ice plants will not be financed

Expansion and development of existing businesses

Scaling up business such as adding floor space, increasing capacity etc.

Adding new product line or new service within the same business line

Renovate/upgrade business premises, equipment, machinery

Loan amount up to MVR 5,000,000

Interest rate from 4% p.a. onwards

Equity requirement based on project (maximum 20% of the total project)

If loan amount exceeds more than MVR 1,000,000 SDFC accepted security mortgage required.

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

Additional security required for loan amount above MVR1,000,000

Business should have been in operation for a minimum of 2 years(Businesses with revenue above MVR 10 million or if loan amount exceeds MVR 2 million, audited financials from a Maldives Inland Revenue Authority (MIRA) approved auditor will be required)

Expansion of business within same sector. Diversification into new business lines shall be financed under Fashaa Viyafaari loan product.

Ice plant projects in locations where Government has commenced or planned for installation of ice plants will not be financed

Financing new businesses and startup investments

Loan amount up to MVR 2,000,000

Interest rate from 4% p.a. onwards

Equity requirement based on project (maximum 20% of the total project)

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

If loan amount exceeds more than MVR 1,000,000 SDFC accepted security mortgage required.

Existing businesses within 01 year of operation will be eligible for additional stock purchase OR to meet the working capital requirement of the business.

Existing businesses diversifying into new sectors will be eligible for the diversification related financing.

Start-up of new retail shops (general trade and clothing), new café/restaurant will not be financed

Must be a fiber fishing vessel

Vessel owner should be the applicant of the proposed facility

Fishing vessel must have been in operation for the past 6 months

Fishing vessel must have a valid fishing license at the time of loan application

Applicant and fishing vessel must be clear of all overdues and fines from Ministry of Fisheries Marine Resources and Agriculture in full

Applicant shall meet all the standard criteria’s set by SDFC for loan facilities

RSW systems purchased through Kandufalhuge Nafaa loan should be procured through the one of the approved vendors by Ministry of Fisheries Marine Resources and Agriculture

Loan amount up to MVR500,000

Interest of 6% per annum

Repayment period up to 6 years (inclusive of grace period up to 6 months)

No collateral requirement

Loan facility will only be provided for the purchase and installation of RSW systems

Applicant to bear any additional costs for the facilitation and installation of RSW system as equity investment

Loan facility will only be provided for the purchase and installation of RSW systems

RSW systems purchased through Kandufalhuge Nafaa loan should be procured through the one of the approved vendors by Ministry of Fisheries Marine Resources and Agriculture