Purpose
- For working capital requirement
- To meet short term cash flow needs
- To facilitate Import related transactions
- Participation of loan syndications, for joint funding with Banks
- Any other business proposal acceptable to MFLC
Eligibility:
- Locally incorporate company with majority stake held by local citizens. Individuals and partnerships with proper business registration. Ownership with non-nationals excluded
- Should be in business for at least for 5 years with an acceptable level of performance and growth
- Evidence of past performance through financial statements, MIRA records, Audited statements, as appropriate
Key Features
Facility limits : MVR 200,000 and above
Tenure : Flexible repayment terms, up to 4 years
Interest rates ; Flexible & Negotiable
Equity : A minimum of 20% of the total project
Security : Project assets, Movable /Immovable assets acceptable to MFLC
Guarantee : Personal guarantee of 2 directors or as appropriate
Loan Syndications: Terms negotiable, to be in line with other syndicate lenders Security: Same as other lenders to the extent of our share