Under an ambitious initiative, Punjab Chief Minister Maryam Nawaz has called to bolster Small and Medium Enterprises (SMEs) in the province by launching the Asaan Karobar Loan Scheme. This free interest program wants to give wings to entrepreneurs, provide jobs, and promote exports for the targeted field in Punjab.
Asaan Karobar Loan Scheme
The scheme is a game changer for startups and well-established businesses alike. By offering financial assistance, the government aims to:
- Promote entrepreneurship.
- Support job creation.
- Make the existing business modern.
- Encourage economic growth and exports.
This initiative is expected to be a major engine of Punjab’s economy, enabling enterprises that need capital to reach the most, with the lowest and most acceptable cost.
Eligibility Criteria
To qualify for the scheme, businesses must meet the following conditions:
- Annual sales for small businesses up to PKR 150 million.
- Annual sales between PKR 150 million to PKR 800 Million.
- Between 25 and 55 years old.
- Must be those who are active taxpayers and registered with the Federal Board of Revenue (FBR).
- You need a clean history in terms of credit.
- Valid CNIC and NTN.
- Business location proof of ownership or rental agreement.
Loan Categories in Asaan Karobar Loan Scheme
Tier 1
- Loan Amount: PKR 1 million to PKR 5 million.
- Repayment Period: Up to 5 years.
- Interest Rate: 0% (interest-free).
- Processing Fee: PKR 5,000.
Tier 2
Loan Amount: PKR 6 million to PKR 30 million.
Repayment Period: Up to 5 years.
Interest Rate: 0% (interest-free).
Processing Fee: PKR 10,000.
Grace Period
Startups: Up to 6 months.
Existing Businesses: Up to 3 months.
Repayment Details
- Monthly installments will be equal, and the loans will be repaid.
- Late Payment Charges: Overdue payments until PKR 1 per PKR 1,000 daily.
For detailed terms and conditions, visit the official website: http://akc.punjab.gov.pk/cmpunjabfinance.
Asaan Karobar Finance Card
Asaan Karobar Finance Card also joined the loan scheme, which gives up to PKR 30 million in interest-free loans.
