The SME Development Finance Corporation (SDFC) has revised the eligibility requirements for its Viyafaari Ehee loan, a financing scheme aimed at supporting small and medium-sized businesses in the Maldives.

Under the updated criteria, businesses operating for a minimum of six months can now apply for the loan. This is a reduction from the previous requirement of one year. SDFC stated that the change is intended to expand access to financing, as the scheme continues to receive strong interest from business owners across the country.

The Viyafaari Ehee loan is designed to support business activities such as inventory purchases, short-term working capital needs, and the acquisition of equipment and machinery.

Under the scheme, eligible businesses can borrow up to MVR 1.5 million at an interest rate of 9.5 per cent per annum. A primary collateral will be required for loan amounts or total exposure exceeding MVR 700,000. Total exposure is calculated by combining all active loans taken from SDFC, including those under related business entities.

The loan comes with a maximum grace period of six months and a repayment term of up to five years.

SDFC has encouraged interested applicants to visit its official website for more information on the application process and eligibility requirements.