Maldives Finance Leasing Company (MFLC) has initiated a loan scheme titled "Faseyha Loan" and "Fahi Loan". Presented by the Director of MFLC Adam Saleem, the scheme was introduced at a ceremony held at the company on Sunday.
Speaking at the ceremony, Adam Saleem stated that the development of the loan scheme brought an end to prolonged customer anticipation over such a service.
Saleem said that the introduction of this service would open new opportunities for customers. As such, Fahi Loan would allow customers ranging from businesses to individual persons to attain loans over MVR 100,000 with attached collateral.
"Through Faseyha Loan customers will be able to apply for a loan of MVR 100,000 without the need for a guarantor. This amount will then be transferred to the customer's account within 24 hours. This scheme brings an end to much anticipation over the service", he said.
MFCL revealed that those applying for Faseyha Loan can access further benefits. As such, interested parties will be able to receive insurance of MVR 100,000 free of charge under their Personal Accident Cover Policy.
According to their Fahi Personal Loan scheme, customers can also attain an amount between MVR 100,000 - MVR 150,000 with attached collateral for personal use. This ranges from educational and medicinal to other such uses, respective to their level of income.
In this regard, those receiving income through leasing property and similar means will be able to apply for the scheme.
Moreover, through Fahi Business Loan, sole enterprises and other companies conducting business will be able to access loans over MVR 200,000 with attached collateral. The company has stated that these loans would be issued to businesses that has been active for a period of over two years, and has the capacity to repay debt.
As such, customers will be able to access working capital for expansion, the attainment of assets, improved operations, and other such purposes.
MFLC is a company that provides assistance to the public, and businesses by leasing materials ranging from household appliances to business assets. Additionally, the company also provides for construction, renovation, and the purchase of real estate. They also issue project loans.
