SME Digital has doubled the maximum financing limit available under three of its key business financing facilities, raising the ceiling from USD 324,254 to USD 648,508 and significantly widening access to capital for small and medium-sized enterprises across the Maldives.
The revised limit applies to Asset Financing, Business Expansion Financing and Vessel Financing, giving eligible businesses greater capacity to invest in equipment, expand operations and strengthen revenue-generating activities. SME Digital said the increase reflects the growing financing requirements of Maldivian businesses as they scale their operations and pursue new commercial opportunities.
Through the Asset Financing facility, both new and existing businesses can secure funding to purchase fixed assets required for their operations. The Business Expansion Financing facility is designed for enterprises that have been operating for at least two years, supporting capital investments aimed at business expansion, entry into new markets and the development of additional sources of income.
The Vessel Financing facility provides support for businesses seeking to purchase or construct vessels, as well as undertake related works such as engine installation. The facility is available to new and existing enterprises and can be used for diving dhonis, sport-fishing boats, excursion vessels and vessels used in the fisheries sector, supporting industries that play an important role in the Maldivian economy.
SME Digital highlighted that access to financing at levels appropriate to the size and ambition of a business can play an important role in enabling sustainable growth. Chief Executive Officer Badhurudheen said financing limits should not become a barrier to business progress, describing the latest increase as a positive development for entrepreneurs seeking to take their operations to the next stage.
He reiterated SME Digital’s commitment to working alongside businesses as a financing partner and responding to the evolving needs of the country’s SME sector. The enhanced facilities are expected to provide entrepreneurs with greater flexibility to invest, improve productivity and pursue new opportunities, complementing the Government’s broader efforts to strengthen the private sector and support economic diversification.
Businesses interested in the financing facilities can submit their applications through the SME Digital portal.
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