SME Digital has introduced a new financing product, “Vessel Financing”, to support small and medium enterprises operating in fishing, tourism, cargo, and logistics. The facility, launched on Thursday, aims to strengthen vessel-based businesses by offering flexible and accessible financial solutions tailored to their operational needs.
Under the new scheme, eligible SMEs can access financing of up to MVR 5 million, with repayment terms extending up to 10 years. The facility also includes a grace period of up to 18 months, allowing businesses to stabilize operations before beginning repayments.
Vessel Financing is open to both new entrants and established businesses. It covers a wide range of needs, including vessel construction and purchase, mechanization, renovation, and maintenance works.
“This financing marks an important step in strengthening vessel-based businesses, which play a vital role in the Maldivian economy,” said SME Digital. “Our aim is to enable opportunities across key sectors and provide long-term solutions to the challenges faced by SMEs as they contribute to national economic growth.”
Applications for Vessel Financing are now open via the SME Portal at www.smedigital.mv