The Khyber Pakhtunkhwa (KP) government has launched a 13-year interest-free loan program (2021-2034) to help people in merged districts improve their living standards and grow small businesses. This scheme provides financial support to those who need it the most, making it easier for them to start or expand their businesses without worrying about high-interest rates.
| Aspect | Details |
| Purpose | Support small businesses, help startups, assist farmers, reduce financial burden. |
| Eligibility | Residents of merged districts in KP with a business idea or expansion need. |
| Loan Management | Managed by KP SIDB, disbursed by Akhuwat Foundation through 36 branches. |
| Repayment | Interest-free, repay the original amount within 3 years. |
Purpose of the Loan Scheme
This loan scheme aims to:
- Support small businesses by providing easy loans.
- Help people start new businesses or grow existing ones.
- Assist farmers and livestock owners in improving their income.
- Reduce financial burden by offering loans without interest.
The goal is to create more job opportunities and improve the economic conditions of merged districts.
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Who Can Get the Loan?
To qualify for the loan, applicants must:
- Be residents of merged districts in KP.
- Have a business idea or need funds to expand an existing business.
- Be able to repay the loan within three years.
This program is designed to help hardworking individuals who lack financial support but have the potential to grow their businesses.
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How the Loan Scheme Works
The KP Small Industries Development Board (SIDB) is managing the project, while Akhuwat Foundation Pakistan is responsible for giving out the loans. Loans are provided through 36 Akhuwat branches located in the merged districts.
The loan can be used for:
- Starting or growing a small business.
- Buying equipment or machinery.
- Investing in agriculture and livestock.
Since the loan is interest-free, borrowers only need to repay the original amount within three years.
How to Apply for the Loan?
If you want to apply, follow these simple steps:
- Visit the nearest Akhuwat Foundation branch in your district.
- Submit necessary documents, such as proof of residence and business details.
- Wait for verification of your application.
- Receive the loan once your application is approved.
The process is simple and easy, ensuring that more people can benefit from this scheme.
Conclusion
The KP government’s interest-free loan scheme is a great step toward improving the economy of merged districts. It provides financial help to people who want to start or expand their businesses but lack resources. With no interest and an easy repayment plan, this scheme is helping thousands of people build a better future.
FAQs
1. Who can apply for this loan?
Residents of merged districts in KP who need funds for business, farming, or livestock can apply.
2. Where can I apply for the loan?
You can apply at any Akhuwat Foundation branch in the merged districts.
3. Is this loan really interest-free?
Yes, the loan has zero interest, and you only have to repay the original amount.
4. What can I use the loan for?
You can use it to start a business, expand an existing one, buy machinery, or invest in farming and livestock.
5. How long does it take to get the loan?
It depends on the verification process, but it usually takes a few weeks after applying.