In short
SME Digital Private Limited is the new name of SDFC, renamed in November 2025. It provides Shariah-compliant financing for small businesses in the Maldives. DBS Maldives prepares your SDFC loan application: we help choose the right product, write the business plan and projections, and guide you through the online process.
Is SME Digital the same as SDFC?
Yes. SDFC (SME Development Finance Corporation) was renamed SME Digital Private Limited in November 2025. It is the same institution under a new name, so if you have been searching for an SDFC loan, SME Digital is where you now apply.
Bank of Maldives is its majority shareholder. SME Digital provides Shariah-compliant financing for micro, small and medium enterprises, from start-ups to businesses that are expanding, and it accepts applications online.
What does SME Digital look for in a loan application?
SME Digital assesses each proposal on its business model, its risks, its revenue model, the capability of its management and its ownership structure. An application that explains each of these clearly, with numbers that support the story, is far easier to assess than one that leaves gaps.
Planning a guest house? SME Digital also offers dedicated Guesthouse and Guestroom Financing; see guest house financing and feasibility.
How DBS Maldives helps with your SDFC loan application
- Choosing the right product. We look at your purpose and cash flow with you and identify which of SME Digital's current financing options fits.
- Business plan. We prepare a business plan that covers the points SME Digital assesses, written in plain terms.
- Projections. We build financial projections that show how the business will earn revenue and meet its repayments.
- Documents. We confirm the current document requirements and help you gather and check them before upload.
- Online application. We guide you through the online process and help you respond to any follow-up questions.
If a bank loan may suit you better, we also prepare SME and business loan applications to banks.
How to apply for an SME Digital loan with our help
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Talk through your plans
We discuss what you want to finance and whether SME Digital is the right lender for it.
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Match the product
We review SME Digital's current financing options with you and confirm the requirements for the one that fits.
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Prepare the case
We write the business plan and projections and agree them with you before anything is submitted.
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Submit online
We guide you through the online application and check that every document is uploaded correctly.
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Follow up
We help you answer any questions from SME Digital until it reaches a decision.
What do I need to apply for an SME Digital loan?
- Business registration documents for your company, partnership or sole proprietorship
- Identity documents for the owners or shareholders
- A business plan covering the business model, risks and revenue model
- Financial projections showing revenue, costs and repayment
- Details of the management team and its experience
- Recent bank statements and financial records, if the business is trading
- Quotations for the assets, stock or works to be financed
Common mistakes to avoid
- Assuming an old SDFC application or guide still reflects the current process. Always check the requirements as they stand now.
- Applying for a product that does not match the purpose of the financing.
- Describing the business idea without explaining how it earns revenue.
- Leaving out who will manage the business and why they are capable of it.
- Uploading unclear or inconsistent documents to the online application.
Want help with your application? Get in touch with DBS Maldives.
Frequently asked questions
What happened to SDFC in the Maldives?
SDFC, the SME Development Finance Corporation, was renamed SME Digital Private Limited in November 2025. It continues to provide Shariah-compliant financing for micro, small and medium enterprises. If you were planning an SDFC loan application, you now apply to SME Digital.
Who owns SME Digital?
Bank of Maldives is the majority shareholder of SME Digital Private Limited, the institution previously known as SDFC. It focuses on financing for micro, small and medium enterprises in the Maldives, from start-ups to established businesses looking to expand.
Is SME Digital financing Shariah-compliant?
Yes. SME Digital provides Shariah-compliant financing for micro, small and medium enterprises. The specific products and their terms are set by SME Digital and can change, so we confirm the current options with you before preparing an application.
Can I apply for an SME Digital loan online?
Yes. SME Digital accepts applications online. We help you prepare the business plan, projections and supporting documents before you start, and guide you through the online process so the application is complete when it is submitted.
Can a start-up get an SDFC or SME Digital loan?
SME Digital finances businesses from start-up to expansion. A start-up has no trading record, so the business plan, projections and the experience of the people involved matter more. We prepare these so the proposal is clear, although the decision rests with SME Digital.
How do I apply for an SME Digital loan?
SME Digital accepts applications online through its SME Portal at smedigital.mv and through the SME Digital mobile app, where you can also track the status of an application. DBS Maldives prepares the business plan, projections and documents first, so the application you submit is complete.
Can I repay SME Digital financing through the BML app?
Yes. SME Digital financing repayments can be made through the Bank of Maldives mobile app using BillPay, and the SME Digital app also lets customers manage their facilities and make repayments. We can show you where to find your facility details.
How do I write a business plan for an SDFC or SME Digital loan?
Focus on what the lender assesses: the business model, the risks, how the business earns revenue, the capability of its management and its ownership structure. Back each point with realistic projections. Our business plan service prepares plans written for this kind of assessment.
Last reviewed 6 October 2026. Requirements change; we confirm the current rules with you before any application.