SME Development Finance Corporation (SDFC) has stated loan applications will be suspended temporarily starting from December 25.
SDFC said loan applications are being suspended in order to complete the financial accounts and documentation for 2020, and to bring some changes to its services. SDFC said it will resume loan applications on February 1.
SDFC has been disbursing loans for Small and Medium Enterprises (SMEs) and sole proprietorships affected by the COVID-19 pandemic. As such, SDFC has disbursed loans worth over USD 21.3 million for 1,969 individuals and businesses. This includes USD 20.2 million issued to 1,254 SMEs and USD 1.1 million issued to 615 sole proprietors.
SDFC also provides special loans for female-owned SMEs and sole proprietorships affected by COVID-19. In this regard, the corporation has issued USD 7.5 million for 563 businesses owned by women.