Business

SDFC Extends the Period to Apply for Moratorium

SME Finance Development Finance Corporation (SDFC) has extended the deadline to apply for deferrals for loan repayments till 8th October 2020.

Due to COVID-19, there has been a significant impact on the income of individuals and businesses where SDFC has extended the loan repayment dates till the end of the year the same as the other financial institutions. The previous deadline for the moratorium was 25th September. The company stated that the difficulties from different issues and reasons had resulted in a lack of applications where the extended date is another chance to apply for the moratorium. The applications can be submitted through the online portal of SDFC.

The moratorium is applicable for the loans taken from SDFC earlier and hence does not include the relief scheme loans. The company had also reduced the interest rate of loans repayments to 4% during the period.

Full details are available at the link below:

Source URL: Corporate Maldives

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