MSME Digital raises financing limit to MVR 10 million for three facilities

MSME Digital has increased the financing limit for three of its key facilities aimed at small and medium enterprises in the Maldives to MVR 10 million. The facilities affected are Asset Financing, Business Expansion Financing, and Vehicle Financing, which were previously capped at MVR 5 million. The company stated that the increase is intended to meet the growing financing demands of businesses in the country, particularly as small enterprises expand rapidly. The enhanced limits are expected to provide easier access to capital for new ventures as well as existing businesses looking to grow. CEO Badruddine Hassan commented, "A financing limit should not become an obstacle to the advancement of any business. We believe this change is very useful for businesses. MSME Digital always works to provide finance for the needs of businesses and to be a partner in taking these businesses to the next stage." The three facilities now offering increased limits are: * Asset Financing – for purchasing equipment for both new and ongoing businesses. * Business Expansion Financing – for capital investments to expand businesses that have been operating for at least two years, enter new markets, or generate additional income. * Vehicle Financing – for purchasing vehicles, including dive boats, sport fishing boats, excursion boats, and vessels used in fisheries, as well as for installing engines in vehicles. Applications can be submitted through the MSME Portal on the MSME Digital website.