The SME Development Finance Corporation has stated that 120 parties have applied to their loans aimed at assisting small and medium enterprises.
The managing director of the SME Corporation, Mr Ahmed Zeenadh has stated that loans are still available and would be provided as parties apply on a case by case basis. He also stated that the full details of the recipients of the loans will be announced later this week.
The SME Corporation had previously stated that they would be giving loans to small and mid-range entrepreneurs in the Maldives in the fields of farming, fishing, transport, and ICT.
The banking function of the SME Corporation was established to give special attention to the entrepreneurs who need it the most and to assist them in developing new business ventures in the nation.
The SME Corporation Bank is noteworthy for providing loans at a much lower price than other banks in the Maldives.