SDFC introduces 2 new loans

President Ibrahim Mohamed Solih inaugurates the SME Development Finance Corporation on March 18, 2019. (Photo/President's Office)

SME Development Finance Corporation SDFC -established by the State to enable financial facilities for small and medium enterprise and entrepreneurial start-ups, introduced two new loans last Thursday.

The two new loans introduced are “Fashaa Viyafaari” loan and “Viyafaari Tharahgee” loan.

SDFC states that the interest rates of these loans will stay between 4 percent and 9 percent, and will have a durability of 10 years.

They noted that the interest rate and the durability of the loan will be decided after discussing the loan application, business risks and feasibility.

SDFC says that loans will be leased without a collateral depending on the number of loans and the business type.

SDFC highlighted that the introduction of the new loans will decrease the obstacles in gaining financial aid to small and medium enterprises and entrepreneurial start-ups, making it possible for the company to be achieve its goal of being a supporter of developing businesses.

With the introduction of these two loans a total of six loans will be provided by SDFC.