The SME Development Finance Corporation (SDFC) in the Maldives has announced that loan applications can now be submitted through their new SME Portal. This online platform allows customers to conveniently apply for various loan options related to local tourism, SME assistance, agriculture, assets, business expansion, and startups. Users can also access up-to-date information, schedule appointments, track their loan history, and receive guidance in selecting the best loan option for their needs.
By launching the customer service portal in 2020, SDFC became the first financial institution in the Maldives to accept loan applications online. As of March this year, the bank has provided a total of MVR 1.6 billion in funding to 1,387 small and medium-sized enterprises (SMEs).
Established in 2019, SDFC is a specialized financial institution that provides financial products and services to micro, small, and medium-sized enterprises (MSMEs) and start-ups with the aim of facilitating their access to finance. It is a 100% state-owned company.