SME Digital has launched a new financing product, Vessel Financing, aimed at supporting small and medium-sized enterprises (SMEs) engaged in vessel-based businesses across key sectors of the Maldivian economy.

The facility provides financing of up to MVR 5 million, with a repayment period of up to 10 years and a grace period of up to 18 months. SME Digital said the product has been structured to offer flexible and accessible terms that align with the operational needs of businesses involved in fishing, tourism, cargo and logistics.

According to SME Digital, the financing is intended to support both new and existing vessel-based enterprises. The facility can be used for the construction or purchase of vessels, as well as for mechanisation, renovation and maintenance work, enabling businesses to expand and modernise their operations.

SME Digital said the introduction of Vessel Financing is expected to strengthen vessel-based industries, which play a significant role in national economic activity. The product aims to address long-term financing challenges faced by SMEs and support sustainable business growth across multiple sectors.

Applications for Vessel Financing are now open and can be submitted through the SME Digital portal at smedigital.mv.