News

BML Announces Enhancements to Business Finance Products

Bank of Maldives Plc (BML) has announced positive changes to its financing products to support the growth and success of businesses across the country.

The country’s national bank has enhanced its business financing products in real estate, guesthouse and working capital.

Real Estate Financing:

• Minimum equity reduced from 30% to 20%
• Payment period extended from 15 to 20 years
• Long-term lessees, contractors, real estate developers, companies, government institutions, and other registered legal entities can now apply for financing to construct projects under long-term lease agreements

Guest House Financing
• Guest house proposed for the financing can now be listed as sole security
• Guest houses operating for over 2 years can access financing at 11%
• New guest houses can access financing at 12%

Working Capital Financing

• Businesses can access financing up to 2.5 times more than the average monthly sales
• Eligibility criteria relaxed to accommodate more businesses

BML’s CEO and Managing Director, Mohamed Shareef said the announcement represents a significant step forward in BML’s commitment to the Maldivian business community.

“By making financing more accessible and offering improved terms across multiple sectors, we are providing businesses with the financial support they need to expand, innovate and thrive in today's dynamic market,” Shareef said.

BML had recently announced significant enhancements to its housing financing products to offer greater flexibility and accessibility for customers across the Maldives.