SME Digital Launches Vessel Financing Facility for SMEs
The facility offers financing of up to MVR 5 million. | Photo: SME Digital
SME Digital has launched a new financing product, Vessel Financing, aimed at supporting small and medium-sized enterprises operating vessel-based businesses, including fishing, tourism, cargo and logistics.
The facility offers financing of up to MVR 5 million, with a repayment period of up to 10 years and a grace period of up to 18 months. SME Digital said the product is structured to align with the operational needs of vessel-related businesses and to support sustainable growth through flexible financing terms.
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According to SME Digital, the facility is open to both new entrants and existing operators in the sector. It will provide funding for the construction or purchase of vessels, as well as for mechanisation, renovation and maintenance works.
SME Digital said vessel-based industries play a significant role in the Maldivian economy, and the new financing option is intended to improve access to long-term capital for businesses facing high upfront costs.
Applications for the Vessel Financing facility are now open through the SME Portal on their website.
