Bank of Maldives launches ‘Startup Grant’ for new businesses


Photo: Bank of Maldives

Bank of Maldives (BML) has launched their ‘Startup Grant’ loan facility for new businesses.

Moreover, BML’s new facility is one out of the twelve community focused initiatives the bank will be initiating this year to commemorate the bank’s 40th anniversary.

This grant aims to finance new business ventures or provide ‘seed funding’ for existing ventures that are in need of capital.

Furthermore, according to the national bank of the country, a total of four businesses selected through the application submission will receive funding up to MVR500,000. In addition to this, the bank will provide financial consultancy for businesses in order to better help the ventures to manage their funds.

Application window for the startup grant scheme will remain open until 16 March 2022.