SDFC opens applications for loan deferment

SME Development Finance Corporation (SDFC) has opened for applications regarding loan deferments. 

SDFC has already announced that loans obtained through the corporation would be deferred until the end of the year. SDFC stated that the deadline for applications will expire on September 25. 

Deferment applications are to be made through the online portal of the SDFC website. 

Due to the economic impact of COVID-19, a number of financial institutions in the Maldives have already announced deferrals for loan repayments. SDFC had also reduced the interest rate of the loan repayments during this period to four percent.

The corporation issues loans for SME businesses in five sectors. They include fishing, agriculture, local tourism, and information technology.