Punjab Chief Minister Maryam Nawaz has launched the Asaan Karobar Finance Scheme 2025, a revolutionary initiative offering interest-free loans to empower entrepreneurs and SMEs across Punjab. With loan amounts ranging from PKR 1 million to PKR 30 million, this program aims to fuel business growth, create jobs, and drive economic development.
Key Features of the Asaan Karobar Scheme
- Interest Rate: 0% (No interest charges).
- Loan Range: PKR 1 million – PKR 30 million.
- Repayment Tenure: Flexible terms up to 5 years.
- Grace Period:
- Startups: 6 months before repayment begins.
- Existing Businesses: 3 months grace period.
- Disbursement: Processed through Bank of Punjab.
- Application: Fully online via the PITB portal.
Who Can Apply?
Eligibility Criteria
- Age: 21 – 57 years.
- Residency: Business must operate in Punjab.
- Tax Status: Must be a registered tax filer.
- Credit History: No defaults on previous loans.
- Business Revenue:
- Small Businesses: Up to PKR 150 million annually.
- Medium Businesses: PKR 150 million – PKR 800 million annually.
How to Apply for the Asaan Karobar Loan?
Follow these 4 simple steps:
- Register Online: Visit the PITB Portal using your CNIC-linked mobile number.
- Fill the Application: Provide business details and upload required documents (15-minute process).
- Pay Processing Fee:
- Tier 1 (PKR 1M–5M): PKR 5,000.
- Tier 2 (PKR 6M–30M): PKR 10,000.
- Submit & Track: Receive SMS updates and a registration number for status tracking.
Required Documents
- CNIC copy and passport-sized photo.
- Proof of tax registration.
- Business income/expense statements.
- Property documents or rent agreement.
- References’ CNIC copies and contact details.
Success Stories: Entrepreneurs Benefiting from the Scheme
- 🏥 Asif (Faisalabad): PKR 30 million for a pharmaceutical expansion.
- 💻 Wajahat Fareed (Rawalpindi): PKR 30 million to scale a software house.
- ⚽ Arshad (Lahore): PKR 30 million for sports exports.
- 🪑 Ali Asif (Sahiwal): PKR 5 million for a furniture startup.
- 💄 Shabbir (Lahore): PKR 5 million for a salon and cosmetics business.
Important Notes
- SME Card Usage: Pay vendors, utilities, and government fees.
- Cash withdrawals limited to 25% of the loan amount.
- Tax Compliance: Register with FBR/PRA within 6 months of receiving funds.
- Late Fees: PKR 1 per PKR 1,000 per day for delayed repayments.
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Why Choose the Asaan Karobar Scheme?
- 💰 Zero Interest: Save on borrowing costs.
- 🛡️ Government-Backed: Secure and trustworthy.
- 📈 Growth Support: Scale your business with flexible repayment.
- 🏙️ Subsidized Land: CM Maryam Nawaz also announced discounted land for new businesses!
Deadline Alert!
⏳ Applications close on March 5, 2025. Don’t miss this chance to grow your business!
Apply Now: Click Here for the Asaan Karobar Portal
FAQs:
1. What is the last date to apply for the Asaan Karobar Scheme?
The application deadline is March 5, 2025. Late submissions will not be accepted.
2. Is this loan truly interest-free?
Yes! The scheme offers 0% interest loans for both startups and existing businesses. Only a small processing fee applies (PKR 5,000–10,000).
3. Can startups apply for this loan?
Absolutely! Startups are encouraged to apply and benefit from a 6-month grace period before repayment begins.
4. What documents do I need to submit?
Required documents include:
- CNIC copy
- Tax registration proof
- Business financial statements
- Property/rent agreement
- References’ CNIC and contact details
5. How long does repayment take?
Repayment terms are flexible, up to 5 years. Startups get 6 months and existing businesses 3 months before repayments start.
6. Do I need to be a tax filer to apply?
Yes. Applicants must be registered tax filers and comply with FBR/PRA within 6 months of receiving funds.
7. Can I withdraw cash using the Asaan Karobar SME Card?
Yes, but cash withdrawals are limited to 25% of the loan amount. The card is mainly for business expenses like vendor payments and utility bills.
8. What if I miss a repayment deadline?
A late fee of PKR 1 per PKR 1,000 per day will apply. Timely repayments ensure eligibility for future schemes.
9. How will I know if my application is approved?
You’ll receive SMS updates and a registration number to track your application status on the PITB portal.
10. Are there quotas for women or marginalized groups?
While not explicitly stated, the scheme aligns with Punjab’s inclusive policies. Check the portal or contact support for specific quotas.