The SME Development Corporation (SDFC) has resumed accepting loan requests after upgrading its online portal. SDFC launched the new portal on Wednesday, opening up the opportunity for loan applications.

Small and medium-sized enterprises (SMEs) can now apply for loans to develop or start a business in agriculture, fisheries, and local tourism-related businesses through the SDFC’s upgraded portal. The portal also offers business development loans to eligible SMEs.

SDFC became the first financial institution in the Maldives to offer loans entirely online when it launched its customer service portal in November 2020. The state-owned lender has approved 1,387 loans worth MVR 1.67 billion since then.

The portal features a loan product wizard and a search function to help customers find the most suitable loan. Additionally, customers can track updates on their loan’s various stages through the portal and receive assistance on loan-related matters.

SDFC suspended accepting loan requests in December to upgrade its portal. The new portal aims to make the loan application process more accessible and efficient for small and medium-sized enterprises.