35 applicants apply for

Youth Ministry has said that 35 applicants have applied for “Getset” loan scheme which aims to help youths who wish to establish a new start-up micro-business or medium-sized enterprise.

Applications for “Getset” loan scheme that offers a sum between MVR 300,000 and MVR 800,000 to youths of Maldivians between the ages 18 - 35 years, has been opened from first of this month till the end of this month.

While the applicants get an answer from the Ministry within 48 hours of application, Information Officer of Youth Ministry Hussain Ameen said that they have received 35 loan application forms so far, out of which 14 applications have been processed and answered.

Application forms are received from “Getset” office, Youth Ministry head office and Youth Center at Maafannu.

According to Youth Ministry, application forms can also be mailed to [email protected], and application forms can be sent through post office as well.

Youth Ministry said that if application is accepted, the interest rates and payback/grace period will be negotiated depending on the type, size and specific benefits of the proposed business, and the interest rate will not be more than 8 percent.