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SMALL AND MEDIUM ENTERPRISE (SME) SCHEME

Up to SCR 3 Million| 5% interest p.a.| on First 1 Million and 7% on next 2 Million | Maximum 7 years Repayment

The SME incentive scheme was introduced to finance the development of small and medium sized businesses. Finances are being offered in all sectors and businesses activities excluding the refinancing of existing loans and for financing of retail, wholesale and import businesses.

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Up to 3 million

Amount

Financing a Minimum of SCR50,000 and a Maximum SCR 3,000,000

As low as 5 %

Interest Rate

Interest rate starts at 5% on the first 1 Million and 7% on the next 2 Million

Up to 97.5 %

Financing coverage

Financing up to 97.5% of the project cost, depending on the project

Up to 7 years

Repayment Period

Up to 7 years depending on the type of project and asset(s) being financed

Required documents

To apply for a SME Loan, you will need to submit the following:

  • Loan application
  • Business plan
  • Supporting documentation

SME scheme accepts lease as collateral at a rate of 1:1

Application fee: 0.25% of the loan amount payable upfront

Eligibility Criteria

Who Can Apply

Find out who can apply for the BIF loans and check if you qualify for our exclusive opportunities.

Annual turn over less than Scr6 Million

Company/Individual whose annual turn over does not exceed SCR 6 million

Locally registered commercial entities

Locally registered Seychellois company with at least 51% Seychellois owned.

Must be a Seychellois citizen

Must be a Seychellois citizen and should be residing in Seychelles for the last one year

Employed or self-employed

You could be employed or self-employed, DBS will support your dreams!

Eligible Activities

What Kind of Activities

Check if you qualify for our exclusive opportunities.

Scientific Services

Code AA: Business enterprises that provide scientific support to the fisheries sector including services related to fisheries research, management planning and fisheries monitoring (including vessel monitoring systems)

Code AB: Businesses that provide food technology and laboratory analytical services for seafood product research, development, and labelling

Logical Services

Code AC: Businesses that provide offloading, storage, and delivery services to improve cold chain management including cargo handling services

Code AD: Enterprises that provide sorting and refreezing facilities as an ancillary service to processors and exporters of bycatch

Code AE: Enterprises that provide fleet and crew management services

Code AF: Business enterprises that provide packaging, distribution, marketing, and sales services

Processing

Code AG: Businesses developing new facilities, or rehabilitating existing facilities, that are engaged in primary or secondary fish processing for eligible value chains

Code AH: Enterprises investing in processes and technology to improve waste and energy efficiency

Code AI: Existing businesses that plan to upgrade existing processing facilities for HACCP or EU certification to improve market options

Market Access

Code AJ: Industry-led investments in fishery improvement projects and assessment for internationally recognised certification schemes (e.g., Marine Stewardship Council)

Code AK: Enterprises providing services in market research, brand building, strategy development and sector intelligence

Code AL: Specialised technologies for accessing markets such as electronic sales and auction platforms

Commercial Aquaculture

Code AM: Commercial production of finfish, bivalves, echinoids, and prawns by businesses licensed under the Fisheries (Aquaculture) Regulations, 2020 (S.I. 160 of 2020) on allocated land, inshore and offshore zones for aquaculture purposes.

Code AN: Commercial hatcheries and nurseries for commercial production of finfish, bivalves, echinoids, and prawns by businesses licensed under the Fisheries (Aquaculture) Regulations, 2020 (S.I. 160 of 2020) on allocated land, inshore and offshore zones for aquaculture purposes.

Downloads

Use the documents below to apply for this type of loan

Know Your Customers (KYC) Form

Loan Application Form for company

Source of Personal Contribution Form

Beneficial Ownership Form

Loan Application Form for Sole Trader or Partnership