More than 3,000 applications have been assessed under the Micro, Small and Medium Enterprise loan scheme so far where 2,339 applications have been approved.
The total value for the 2,339 approved applications is $18.7 million.
Minister for Trade and Commerce, Faiyaz Koya says as at 30th June this year they received close to 9000 applications which is valued at more than $62 million.
Koya says they received 4,680 applications from newly registered micro-businesses, 3,600 applications from existing micro businesses, 540 from small enterprises and 180 from medium enterprises.
He says 43% of the applications were from women while 57% were from men which suggests that there is a shift in dynamics and represents confidence in their government by women entrepreneurs.
Koya says 41% applications were from the Central Division, 35% were from the Western Division, 22% from the Northern Division while 2% from the Eastern Division.
He adds assessors are continuing to assess the remaining applications and they hope to complete the entire assessments by the end of this month.
