SME Digital has unveiled a new financing solution aimed at assisting micro, small, and medium enterprises (MSMEs) in acquiring critical business assets. The facility is now open for applications.

The program allows existing businesses across all sectors to access funding for assets that enhance productivity, including machinery, equipment, business vehicles and vessel mechanization.

Financing is offered in a Shariah-compliant format, ranging from MVR 100,000 to MVR 5,000,000.

Unsecured financing is available up to MVR 1,000,000, featuring a seven-year term and a six-month grace period.

Secured financing provides a tenure of up to ten years with a 12-month grace period. The annual profit rate ranges from nine percent to 10.5 percent. The facility is designed to be flexible and accessible, supporting businesses in expanding operations, improving efficiency, and enhancing their overall contribution to the national economy.

The financing initiative aims to address the financial challenges faced by existing businesses while promoting economic growth.

It is intended to enable companies to acquire the equipment and machinery necessary for productivity improvements and market expansion, fostering stronger, more resilient enterprises that contribute to broader economic development.

Applications for this financing facility are now being accepted through the SME Portal at www.smedigital.mv.