SME Digital has reported strong participation in its Fashaa Madhadhu Loan, a financing scheme targeted at women-led small and medium enterprises (SMEs).

The loan scheme, which was launched in 2024, provides a fixed number of loans to women entrepreneurs each year to support business start-ups and the expansion of existing ventures. The programme has a total allocation of MVR 100 million and is aimed at improving access to finance for women entrepreneurs.

The initiative forms part of President Mohamed Muizzu’s commitment to implement women-focused financial programmes and address long-standing barriers faced by female entrepreneurs, particularly difficulties in accessing credit due to irregular or informal income sources.

Speaking on MMTV’s Bodu Khabaru programme, SME Digital’s In-Charge of Marketing and Communications, Mariyam Shazna, said the scheme has attracted significant interest since its launch.

She noted that approximately 70 women are awarded loans under the scheme each year, while annual applications exceed 200. Shazna stated that the high level of demand reflects the need for accessible financing options for women seeking to start or grow their businesses.

“This is a very high-demand product. While the scheme provides opportunities to about 70 women each year, we receive more than 200 applications annually,” she said.

Shazna added that SME Digital estimates the Fashaa Madhadhu Loan will ultimately support around 400 women entrepreneurs in starting or expanding their businesses.

In response to the strong demand, SME Digital introduced an additional financing scheme for women in November last year. Under the new scheme, loans of up to MVR 250,000 are offered without the requirement for collateral. The loan is repayable over seven years and includes a one-year grace period, providing further flexibility for women entrepreneurs seeking financial support.