SME Digital has opened applications for a new financing scheme dedicated to women entrepreneurs.
SME Digital opened this opportunity to increase the contribution of women entrepreneurs to the Maldivian economy and to expand opportunities for their participation in business. This marks the first such facility introduced by SME Digital exclusively for women entrepreneurs.
Under this scheme, SME Digital will provide mortgage-free financing for the establishment of new businesses across all sectors, with financing amounts ranging from USD 1,620 to USD 16,210.
Previously, the government introduced a loan programme for women entrepreneurs titled the Fashaa Madhadhu Loan Scheme in collaboration with SME Digital. However, the programme was not directly operated by SME Digital. The programme provided loans of between USD 6,485 and USD 32,425 to start-ups at an annual interest rate of six percent and was limited to selected sectors. However, the new financing scheme offered by SME Digital is open to all sectors.