Thursday 20th Jun 2024
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SDFC discontinues some financing products

SME Development Financing Corporation (SDFC) discontinued issuance of some financing products temporarily.
SDFC was established to fulfill an election promise made by the President Ibrahim Mohamed Solih administration to ease the financial strain on Small and Medium Enterprises through financing and loans.
According to SDFC, although they have stopped accepting applications for some of their loans since December 1, the corporation will begin loan issuance after January 31, 2023.
SDFC noted that their Dhanduveri Nafaa loan, Kandufalhuge Nafaa loan, loans issued for frozen seafood manufacturing will not be affected by their restrictions on applications.
SDFC assured that although the temporary hold on application are in effect, submitted applications will be processed accordingly.