SDFC to introduce financing scheme for women in November

SME Development Finance Corporation (SDFC) plans to launch a financing scheme exclusively for women in November. 

The scheme is designed to encourage women in business, improve financial accessibility for women entrepreneurs and support women's economic empowerment, SDFC said. 

Applications for the scheme will be opened from November onwards. Applications can be submitted via the SME Portal on SDFC's official website. 

The scheme will provide financing for women entrepreneurs conducting business in various fields. 

SDFC Managing Director Badrudeen Hassan said that the scheme aims to expand opportunities for women to demonstrate their business skills and capabilities. He added that recipients of financing will benefit from flexible repayment terms. 

In addition to this new scheme, SDFC also has an existing 'Fashaa Madhadhu' financing facility, run in collaboration with Economic Ministry and Social and Family Development Ministry, which provides financing for women. This MVR 100 million scheme, which commenced last year, is being conducted on five separate phases. 

Each phase sees the disbursement of MVR 20 million, with 25 percent being reserved for persons with disabilities. SDFC is currently accepting applications for the second phase of this facility.