SDFC Issues “Fashaa Madhadhu” Loans

The SME Development Finance Corporation (SDFC) has announced the issuance of “Fashaa Madhadhu” loans to support 60 women entrepreneurs. 

The loan scheme is intended to provide accessible financing options to women, particularly those who face barriers to traditional banking.

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The “Fashaa Madhadhu” scheme offers loans of up to USD 32,425 at a 6% interest rate. Beneficiaries are granted a 12-month grace period and have the option to repay the loan over a period of up to seven years.

SDFC has allocated a total of USD 907,911 for this initiative, with 16 of the 60 approved applicants coming from the nation’s atolls, according to information provided to PSM News.

During a ceremony marking the distribution of loan approval letters, SDFC Managing Director Aishath Fifsheen Ali highlighted that the scheme would significantly increase the number of loans available to women entrepreneurs compared to previous years.

In addition to the “Fashaa Madhadhu” loan programme, SDFC has introduced an associated leasing scheme to further support women-led enterprises.