Asaan Karobar Loan Scheme Announced
Punjab Chief Minister Maryam Nawaz has introduced the Asaan Karobar Loan Scheme, a game-changing initiative designed to empower small and medium-sized businesses (SMEs) with interest-free loans. This program aims to boost entrepreneurship, promote job creation, and drive economic growth in the province.
Asaan Karobar Loan Scheme Overview
The Asaan Karobar Loan Scheme provides financial assistance to startups and existing businesses, enabling them to expand, modernize, or launch new ventures. With loans ranging from Rs 100,000 to Rs 30 million, the scheme ensures financial inclusivity for entrepreneurs across Punjab.
Key Features:
- Loan Amount: Rs 100,000 to Rs 30 million
- Interest Rate: 0% (completely interest-free)
- Loan Tenure: Up to 5 years
- Grace Period: Up to 6 months for startups and 3 months for existing businesses
- Usage: Strictly for business-related expenses
Also Read: Asaan Karobar Scheme Register
Eligibility Criteria for Asaan Karobar Loan
To apply for the loan, applicants must meet these criteria:
- Residency and Age:
- Must be a resident of Punjab
- Between 25 to 55 years old
- Business Status:
- Small businesses with annual sales up to Rs 150 million
- Medium-sized businesses with annual sales between Rs 150 million and Rs 800 million
- Other Requirements:
- Clean credit history
- Valid CNIC and NTN
- Premises ownership or rental documentation
- Active taxpayer registration with FBR
Also Read: Maryam Nawaz New Loan Scheme
Steps to Apply for Asaan Karobar Loan
Follow these steps to apply online:
- Visit the Portal:
- Go to the official website:
https://akc.punjab.gov.pk.
- Go to the official website:
- Register:
- Create an account using your CNIC and mobile number.
- Fill the Application Form:
- Enter personal, business, and loan details.
- Upload Documents:
- CNIC (front and back scanned copies)
- Proof of business premises
- NTN certificate
- Other relevant documents
- Pay the Processing Fee:
- Rs 5,000 for Tier 1 loans (up to Rs 5 million)
- Rs 10,000 for Tier 2 loans (up to Rs 30 million)
- Submit Application:
- Complete the form and submit it online.
- Track Your Application:
- Use the tracking ID to check application status.
Also Read: PK Login for Asaan Karobar Card
Loan Usage and Repayment Terms
- Usage:
- Vendor payments, utility bills, taxes, and other essential business expenses.
- Cash withdrawal allowed up to 25% of the loan amount.
- Repayment:
- Equal monthly installments over the approved tenure.
- Late payment fee of Rs 1 per 1,000 rupees per day.
Also Read: Punjab Asaan Karobar Loan Scheme
Documents Required
Applicants must prepare the following:
- CNIC (front and back)
- Proof of business premises (ownership or rental)
- NTN certificate
- Two non-relative references with contact details
- Business income and expense records
Also Read: CM Punjab Karobar Card Loan Scheme Launched for Small Businesses
Fees and Additional Charges
- Processing Fee:
- Tier 1: Rs 5,000
- Tier 2: Rs 10,000
- Annual Card Fee: Rs 25,000 + FED (deducted from loan limit)
- Late Payment Charges: Applicable as per bank policy
Also Read: CM Maryam Announces Punjab Asaan Karobar Scheme
Conclusion
The Asaan Karobar Loan Scheme is a game-changing opportunity for entrepreneurs in Punjab. By offering interest-free loans and streamlined application processes, the scheme paves the way for financial independence and sustainable business growth. Don’t miss out on this chance to transform your business dreams into reality. Apply today to unlock your potential!
FAQs
- What is the Asaan Karobar Loan Scheme? It is an interest-free loan program introduced by the Punjab government to support SMEs.
- How much loan can I apply for? Loan amounts range from Rs 100,000 to Rs 30 million, depending on the business type.
- Who is eligible for the scheme? Entrepreneurs aged 25-55 years who are residents of Punjab and registered taxpayers.
- What is the repayment period? Repayment spans up to 5 years with a grace period of 3-6 months.
- Can startups apply? Yes, startups and new businesses are encouraged to apply.