Financing Options

Priority

Sectors

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

Tourism
Agriculture
Manufacturing
Fisheries
ICT
Our

Products

Rashu

Fathuru

Rashu Fathuru loan product 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 loan 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 guesthouses (financing restricted towards development of new guesthouse in Greater Male’ Area and K.Maafushi)
Maintenance and Renovation of existing guest houses
Development of tourism and travel support services
Working Capital Requirement
Marketing and Advertisement
Technological Innovations

KEY FEATURES

Loan amount from MVR200,000 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 18 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)

Guesthouses financed from SDFC should meet the guesthouse regulations published by the Government of Maldives

Financing restricted towards development of new guesthouses with less than 6 rooms

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

Trade financing;

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

Financing projects and contracts;

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.

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 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

Harumudha

Our ‘Harumudhaa’ loan product allows SME businesses to acquire assets to meet their long term investment needs.

CAN BE USED FOR:

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

KEY FEATURES

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

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.

CAN BE USED FOR:

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

KEY FEATURES

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

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
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

KEY FEATURES

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)
KANDUFALHUGE

NAFAA

SDFC is collaborating with Ministry of Fisheries, Marine Resources and Agriculture to provide easily accessible financing options towards the facilitation of RSW systems in existing fishing vessels. The purpose of this loan program will aid towards the overall sustainability and development of the fishing industry.

Eligibility Criteria

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

Key Features

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

LOAN
LOAN REPAYMENT CALCULATOR (EMI)

LOAN AMOUNT
MVR
INTREST RATE (%)
REPAYMENT PERIOD (YEARS)
GRACE PERIOD (MONTHS)
Kindly note that this is an estimate, and the actual repayment amount may differ.