In a significant move to bolster small and medium-sized enterprises (SMEs), the Punjab government has introduced the Asaan Karobar Finance Scheme. This initiative offers interest-free loans ranging from PKR 1 million to PKR 30 million, aiming to stimulate economic growth and foster entrepreneurship across the province.
Table of Contents
| Feature | Details |
| Launch Date | January 15, 2025 |
| Application Start Date | January 20, 2025 |
| Application Deadline | February 28, 2025 |
| Loan Amount | PKR 1 million to PKR 30 million |
| Repayment Period | Up to 5 years |
| Eligibility Age | 21 to 57 years |
| Processing Fee | PKR 5,000 (for loans up to PKR 5 million) |
Key Features of the Asaan Karobar Finance Scheme
- Loan Amounts: Interest-free loans between PKR 1 million and PKR 30 million.
- Repayment Period: Flexible repayment tenure of up to five years.
- No Immediate NOCs Required: Applicants can obtain loans without the immediate need for No Objection Certificates (NOCs), licenses, or plan approvals.
- Land Provision: Land will be provided at highly subsidized rates to encourage the establishment of small businesses.
Read More: CM Punjab Asaan Karobar Card Login
Eligibility Criteria for the Asaan Karobar Finance Scheme
To qualify for the Asaan Karobar Finance Scheme, applicants must meet the following criteria:
- Age: Between 21 to 57 years.
- Residency: Must own or plan a business located in Punjab.
- Tax Compliance: Must be a tax filer with a clean credit history.
- Identification: Possess a valid Computerized National Identity Card (CNIC) and a registered mobile number.
- References: Provide references and documentation related to business and residence.
Required Documents for the Asaan Karobar Finance Scheme
Before initiating the application process, ensure you have the following documents ready:
- Scanned copies or clear images of your CNIC (front and back).
- A recent passport-size photograph or a clear selfie.
- Proof of tax filing status.
- Detailed information about business income and expenses.
- Rent agreement or property documents for both business and residence addresses.
- CNIC copies and contact details of two non-relative references.
Read More: Asaan Karobar Finance Register Now at Portal
Application Process for the Asaan Karobar Finance Scheme
Follow these steps to apply for the Asaan Karobar Finance Scheme:
- Create an Account: Register through the Punjab Information Technology Board (PITB) portal using your CNIC-linked mobile number.
- Complete the Application: Fill out the online application form, which takes approximately 15 minutes.
- Pay the Processing Fee: Submit a non-refundable processing fee of PKR 5,000 for Tier 1 loans (PKR 1 million to PKR 5 million) or PKR 10,000 for Tier 2 loans (PKR 6 million to PKR 30 million).
- Upload Documents: Attach all required documents to your application.
- Submit and Track: After submission, you will receive a registration number and SMS updates regarding your application status.
Read More: Asaan Karobar Card Application Form
Conclusion
The Asaan Karobar Finance Scheme represents a landmark effort by the Punjab government to empower entrepreneurs and stimulate economic activity through interest-free financial support. Eligible individuals are encouraged to seize this opportunity to establish or expand their businesses, contributing to the province’s overall economic prosperity.
Read More: Documents Required for the Asaan Karobar Card
FAQs
What is the Asaan Karobar Finance Scheme?
The Asaan Karobar Finance Scheme is an initiative by the Punjab government to provide interest-free loans to SMEs, facilitating business growth and economic development in the province.
Who is eligible to apply?
Individuals aged 21 to 57 years, with a valid CNIC, registered mobile number, and a business located in Punjab. Applicants must also be tax filers with a clean credit history.
What are the loan amounts and repayment terms?
Loans range from PKR 1 million to PKR 30 million, with a repayment tenure of up to five years and a 0% interest rate.
How can I apply for the loan?
Applications can be submitted online through the PITB portal. Applicants need to create an account, fill out the application form, pay the processing fee, upload the required documents, and submit the application.
What documents are required for the application?
Applicants need to provide scanned copies of their CNIC, a passport-size photograph, proof of tax filing, business income and expense details, property documents for business and residence, and references’ CNIC copies and contact details.