SME Asset Financing

Designed to offer financing to small and medium size enterprises to help expand their business and support permanent working capital requirement through acquisition of assets.

Long Tenure

Up to 5 years

High Limit

From MVR 250K to MVR 2.5M


Mortgage free up to MVR 750K

  • Financing Rate: as per List of Bank charges 

  • Tenure: Maximum 5 years (Based on SME classification)

  • Grace Period: Negotiable

  • Facility limit: MVR250,000 – MVR2,500,000 (Based on SME classification)

  • Collateral: Mortgage over tangible asset only required if Bank financing limit is above MVR750,000

  1. Duly filled and signed application form.

  2. Copy of National Identity Card

  3. Business Registration certificate from Ministry of Economic Development.

  4. Latest Memorandum of Association and Articles of Association (if Company/Partnership).

  5. SME Registration copy from Ministry of Economic Development.

  6. Board Resolution authorizing the request for financing and stating the authorized signatories (if Company).

  7. If a Company or Partnership, Profile sheet from Economic Ministry confirming company's shareholders, directors and company secretary (not older than 10 days).

  8. Valid National Identity Card copy of (shareholders).

  9. Bank statement of all business accounts for last six months.

  10. MIRA Tax clearance report for the entity (not older than 30 days from the date of application submission).

  11. GST return for the last six months with payment receipts.

  12. BPT return for the last six months with payment receipts. (if applicable).

  13. Audited financial statements last 2 years.

  14. Management accounts for the last 2 years, if audited financial statements are not available.

  15. Signed Cashflow projection for the proposed tenure (with 1 year monthly breakdown).

  16. Quotation of the asset to be purchased, if applicable. (must include payment and delivery terms).

  17. Covering letter justifying the requirement for financing (Please mention request amount and tenure).

  18. Collateral documents;

    Registration copy of the collateral

    ID copy of collateral owner

    No objection from the owner/s to mortgage the asset, in case of third-party mortgage

Additional documents maybe required during the evaluation processes

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