SME Digital Introduces New Financing Facility to Support Business Asset Acquisition

SME Digital has launched a new specialized financing facility aimed at helping micro, small, and medium-sized enterprises (MSMEs) acquire essential business assets needed to boost productivity and expand operations. Applications for the facility are now open to businesses across all sectors.

The newly introduced solution enables existing businesses to access financing for key assets such as machinery, equipment, commercial vehicles, and vessel mechanization—resources that are often crucial for operational growth and efficiency.

Under the Shariah-compliant facility, businesses can apply for financing ranging from MVR 100,000 to MVR 5 million. Unsecured financing is available up to MVR 1 million with a 7-year repayment period, including a 6-month grace period. Secured financing options allow for repayment over 10 years, with a 12-month grace period. Annual profit rates for the facility range between 9% and 10.5%.

Positioned as a flexible and accessible solution, the financing aims to help businesses scale up, enter new markets, and contribute more robustly to the national economy.

Commenting on the launch, Badhurudheen Hassan, CEO of SME Digital, said the facility was designed to address ongoing financial constraints faced by existing businesses:

“The purpose of this financing is to revitalize the economy and provide a solution to the financial challenges faced by existing businesses. We aim to provide a practical and timely solution, improving productivity and empowering businesses to acquire new equipment and machinery needed to expand into new markets. We hope this financing will support stronger, more resilient businesses and contribute meaningfully to the nation’s economic progress.”

SME Digital expects the new facility to play a significant role in strengthening MSMEs—the backbone of the Maldivian economy—by supporting sustainable growth and long-term resilience.