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

Financing projects and contracts

Loan amount up to MVR3,000,000

Interest rate of 9.5% per annum

Repayment period up to 5 years (maximum grace period of 3 months)

Business will be required to provide a security (offered security must meet the minimum criteria required by SDFC);

• Based on risk of the business/project

• For all loan amounts above MVR1,000,000

Business should have been in operation for a minimum of 1 year

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

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

Finance up to 60% of total contract value

Interest of 9.5% per annum

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

Businesses will be required to service monthly interest. Upon expiry the business will then be required pay back the loan amount in full

Business should be in operation for a minimum of 1 year.

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

Poultry farming and livestock farming

Agroforestry / Plant nurseries

Value addition activities

Loans up to MVR100,000 without any security or equity requirement

Loan amount up to MVR2,000,000

Interest rate of 6% per annum

Equity investment of 10 - 15%

Repayment period up to 7 years (maximum grace period of 12 months)

Business will be required to provide a security (offered security must meet the minimum criteria required by SDFC);

• Based on risk of the business/project

• For all loan amounts above MVR1,000,000

Purchase of new machinery, equipment, vehicles, and vessels for business use (however, financing has been restricted towards startup passenger ferry services)

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

Interest rate from 4% - 9% per annum

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

Repayment period up to 10 years (maximum grace period of 12 months)

Business will be required to provide a security (offered security must meet the minimum criteria required by SDFC);

• Based on risk of the business/project

• For all loan amounts above MVR500,000 (applicable for startup businesses and businesses in operation for less than 6 months)

• For all loan amounts above MVR1,000,000 (applicable for businesses in operation for 6 months and more)

Business should be in operation for a minimum of 2 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 restricted towards fishing and cargo vessels over the age of 5 years (from the registration date)

Maximum MVR 2,000,000 financed for vessels over the age of 5 years (excluding vessels utilized for fishing and logistics) with satisfactory independent valuation from a SDFC accepted valuer

Financing restricted towards locations where Government has completed or commenced the installation of ice plants

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 MVR5,000,000

Interest rate from 4% - 9% per annum

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

Repayment period up to 10 years (maximum grace period of 12 months)

Business will be required to provide a security (offered security must meet the minimum criteria required by SDFC);

• Based on risk of the business/project

• For all loan amounts above MVR1,000,000 (applicable for businesses in operation for 6 years and more)

Business should have been in operation for a minimum of 2 years

Expansion of business within same sector shall be financed under Viyafaari Tharaggee Loan. However, diversification into new business lines shall be financed under Fashaa Viyafaari loan product.

Financing towards new ice plants restricted in locations where Government has completed or commenced the installation of ice plants

Financing new businesses and startup investments

Existing businesses diversifying into new sectors

Fashaa Viyafaari Loan can be financed towards businesses engaged in manufacturing, fitness and health, information communication technology, franchising, sole distributorship and etc. Businesses can contact SDFC for more information on Fashaa Viyafaari Loans and business activities applicable for this loan.

The following businesses will not be applicable for financing under Fashaa Viyafaari Loan;

• Startup retail, wholesale, café, restaurant, catering services, construction business in Maldives

• Startup fuel businesses in Greater Male Region

Loan amount up to MVR2,000,000

Interest rate from 4% - 9% per annum

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

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

Business will be required to provide a security (offered security must meet the minimum criteria required by SDFC);

• Based on risk of the business/project

• For all loan amounts above MVR500,000 (applicable for startup businesses and businesses in operation for less than 6 months)

• For all loan amounts above MVR1,000,000 (applicable for businesses in operation for 6 months and more)

Must be a fiber fishing vessel

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

Loan amount up to MVR500,000

Interest rate of 6% per annum

Repayment period up to 6 years (maximum grace period of 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

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