HomeGovernment schemesAsaan Karobar Scheme: Interest-Free Loans for Punjab Entrepreneurs

Asaan Karobar Scheme: Interest-Free Loans for Punjab Entrepreneurs

The Punjab government has introduced the Asaan Karobar Scheme to support Small and Medium Enterprises (SMEs), young entrepreneurs, and new businesses. The program provides interest-free loans of up to Rs 30 million, making it a first-of-its-kind opportunity in the province.

Key Components of the Scheme

The initiative comprises two main components:

  1. Asaan Karobar Finance Scheme: Offers loans from Rs 1 million to Rs 30 million for businesses.
  2. Asaan Karobar Card Scheme: Aims to provide financial support through user-friendly cards.

Both programs are designed to stimulate economic growth and encourage entrepreneurship in Punjab.

Eligibility Criteria

Applicants must meet the following requirements:

  • Be aged between 21 and 57 years.
  • Have a CNIC and a registered mobile number.
  • Be a tax filer with no negative credit history.
  • Have or plan a business located within Punjab.
  • Submit references and documentation for business and residence.

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Loan Details

Loan TierLoan AmountProcessing FeeInterest RateRepayment Tenure
Tier 1Rs 1 million to Rs 5 millionRs5,0000%Up to 5 years
Tier 2Rs6 million to R s30 millionRs10,0000%Up to 5 years

Asaan Karobar Scheme Apply Online

The application process is completely online. Following are the simple steps to apply 

Prepare Documents:

  • Passport-size photograph or selfie.
  • Scanned CNIC (front and back).
  • Registered mobile number.
  • Two references with CNIC and contact details.
  • Proof of tax filing status.
  • Business-related documents, such as income records and property agreements.
  1. Online Registration:
  2. Complete the Form:
    • Complete the form carefully and upload the necessary documents. Pay the processing fee (Rs 500 for cards, Rs 5,000–10,000 for loans).
  3. Track Application:
    • Receive SMS updates with your registration number.
    • Check the application status through the official portal.
Asaan Karobar Scheme- Instructions to Apply

Image Source: Asaan Karobar Finance Portal

Asan Karobar Scheme Last Date

Applicants must apply before March 31, 2025, to take advantage of this historic initiative.

Conclusion

The Asaan Karobar loan Scheme is a bold step by the Punjab government to promote entrepreneurship, empower SMEs, and boost the province’s economy. With interest-free loans, simplified application processes, and a focus on youth empowerment, this initiative is set to pave the way for a more prosperous future in Punjab.

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