SME Digital has officially rolled out a significant new financing product specifically designed to address business expansion of Micro, Small and Medium Enterprises (MSMEs) across the nation.
‘Business Expansion Financing’ aims to assist MSME’s target expansion with financial assistance.
The loan scheme is tailored for new asset purchase and business diversification, by assisting MSME’s to open new revenue streams. The product can also be used for infrastructural investment, allowing businesses to utilise it for opening new outlets.
SME Digital said the product offers USD 64,683 collateral free loans, and businesses have the option of accessing over USD 323,415 financing under this scheme. To provide easier access to such schemes, the loan repayment period is set for up to 10 years with 1 year grace period, it said.
SME Digital CEO Badruddeen Hassan stated that the loan scheme will allow business to expand and reach the next phase of business growth.
The opportunity to apply for this new financing product is now immediately available through the dedicated online portal accessible on the SME Digital website at www.smedigital.mv