SDFC Opens Financing Scheme for Women Entrepreneurs

The SME Development Finance Corporation (SDFC) has opened applications for its new Financing Scheme for Women Entrepreneurs, offering loans of up to MVR 250,000 to support women-led businesses across the Maldives.

The initiative aims to boost women’s participation in entrepreneurship by improving access to finance for start-ups and existing enterprises, the company said. It also seeks to promote women’s economic independence and strengthen their role in national development.

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Under the scheme, SDFC offers Shariah-compliant, collateral-free financing ranging from MVR 25,000 to MVR 250,000, with a 9.5 percent annual profit rate, a grace period of up to 12 months, and a facility tenure of up to seven years.

“This scheme opens a pathway for Maldivian women entrepreneurs to showcase their skills and capabilities. By providing financial assistance with easy and flexible repayment terms, we aim to encourage women to enter the business sector, establish their own ventures, and contribute to sustainable economic growth,” the CEO of SDFC, Badhurudheen Hassan, said.

Applications are now open through the SME Portal on SDFC’s website.

In addition to this new scheme, SDFC continues to provide financing under the Fashaa Madhadhu Loan scheme, launched in 2024 in collaboration with the Ministry of Economic Development and Trade and the Ministry of Social and Family Development. The loan, which offers up to MVR 500,000 with a 6% annual interest rate, includes a repayment period of up to seven years and a 12-month grace period, without requiring collateral.