Business 2

BML Retailers' Loan

BML Retailers' Loan is targeted for Small and Medium Enterprises (SMEs) to enable further expansion of their businesses. The loan is specifically designed and tailored to meet the everyday challenge of access to funds for the growth of the business, or even for restocking imports.

Eligible retailers have the opportunity of obtaining a loan valued up to three times the monthly average of sales generated through BML Point of Sale (POS) terminal(s).


Key Features

  • Financing is available as either a loan or an overdraft
  • Loan value is up to three times of the monthly average POS sales
  • Loan processed within 10 working days
  • No security or deposits required
  • Repayment period
      For loans: 48 months
      For overdrafts: 12 months
  • Customers can use the loan funds to pay for imports via BML’s Swift Transfer or Letter of Credit without having to provide USD for the transaction, subject to availability
For loan amounts up to MVR 500,000 For loan amounts above MVR 500,000
Security No security Additional security is required in addition to the stock purchased
Interest 13% per annum 12.75% per annum



Eligibility Criteria

  • Must be a registered business in Maldives
  • With minimum 12 months account operation with BML
  • With minimum monthly average POS sales of MVR 50,000
  • Satisfactory financial position
  • Minimum 12 months POS sales

Applicable Fees:

Processing Fee: MVR 2,500
Arrangement Fee: 1.5% of loan amount


How to apply

Submit a BML Retailers' Loan Application Form to any of our branches along with the following documents:

Supporting documents required

If applying for the loan as a Sole-Proprietor

  • ID Card Copy
  • Business registration document
  • Completed "Information Forms for ”Personal Banking Customers” (if not completed within the last 12 months)
  • MIRA registration and latest GST statements
  • Existing inventory list on cost price
  • BML Fire Insurance application form

If applying for the loan as a Company

  • Registration documents (Company & Trade Registration Certificates)
  • “Information Form for Business & Institutions” and “Information Form – Personal Banking Customers” for all Directors (if not completed within the last 12 months)
  • MIRA registration and latest GST statements
  • Existing inventory list on cost price
  • BML Fire Insurance application form

For both Sole-proprietor and Company include the following;

  • Financial statements for latest 2 financial years, audited if available.
  • Cash flow statement for the past 12 months
  • projected cash flow statement for the loan tenor (a soft copy will be made available to you upon request).