The SME Development Finance Corporation (SDFC) has disbursed over MVR 1.6 billion of loans in the past four years.
According to the state-initiated financial institution, it has issued a total of MVR 1,672,733,086 in collective loans to a total of 1,387 parties.
Breakdown of Loans
- Startups: MVR 296,869,791 to 402 parties
- Assets: MVR 475,275,010 to 241 parties
- Business Expansion: MVR 266,000,358 to 218 parties
- Business Support/Aid: MVR 159,522,917 to 215 parties
- Local Tourism: MVR 395,705,472 to 183 parties
- Agriculture: MVR 10,524,135 to 35 parties
- Marine: MVR 1,295,000
- Covid Stimulus Package: MVR 54,541,017 to 82 parties
The financial institution also provides loans specifically to women-centric businesses as a focus on empowering women. SDFC has disbursed a total of MVR 88,200,272 in loans to 135 female entrepreneurs during the last four years.