The Asaan Karobar Finance Scheme is a program by the Punjab government that offers interest-free loans ranging from 1 million to 30 million Pakistani Rupees to help entrepreneurs start or modernize their businesses. This scheme is designed to support the local economy by providing financial assistance to business owners, enabling them to grow and expand their enterprises. If you are interested in applying for this program, this article will guide you through the step-by-step process and eligibility criteria.
| Category | Details |
| Loan Amount | Tier-1: PKR 1M–5MTier-2: PKR 6M–30M |
| Eligibility Criteria | Punjab resident, valid CNIC, active tax filer, proof of business |
| Required Documents | CNIC, tax returns, business proof, feasibility report, 2 references |
| Application Fee | Tier-1: PKR 5,000Tier-2: PKR 10,000 |
Step 1: Prepare Your Documents to Apply for Asaan Karobar Program
Before applying for the Asaan Karobar Finance Scheme, ensure you have all the necessary documents ready. These include:
- Passport-size Picture or selfie.
- CNIC (both front and back).
- Proof of Business like a rent agreement or property transfer letter.
- Tax Information, including your NTN number (National Tax Number) and recent tax returns.
It is also essential to provide the names and contact details of two references who are not your blood relatives. Make sure your mobile number is registered with your CNIC, as you will need it for the application process.
Step 2: Ensure You Meet Eligibility Criteria for Asaan Karobar Program
Before applying for the loan, check that you meet the eligibility criteria. To qualify, you must be:
- An active tax filer with proof of tax payments.
- A business owner who requires financial assistance for starting or modernizing your business.
- Resident of Punjab with a valid CNIC.
If you are applying for Tier-2 loans, you will also need to provide details about the security you offer for the loan, such as property documents.
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Step 3: Register and Create an Account for Asaan Karobar Scheme
To begin your application, you need to create an account on the official website. First, provide your full name, father/husband’s name, and CNIC number. Then, enter your email address, date of birth, and mobile number, which must be registered in your name. Complete your residential and permanent address details, along with any other required information, such as political affiliation (if applicable). After submitting your details, you will be asked to verify them before moving on to the next step of the application process.
Step 4: Complete Loan Details for Asaan Karobar Finance Scheme
After registering, log in to your account and fill in the Loan Details section. Provide the date your business was established and select the loan tier (Tier-1 or Tier-2). Tier-1 offers loans from 1 million to 5 million PKR, while Tier-2 offers loans from 6 million to 30 million PKR. Also, enter your loan amount, equity contribution, and security details for Tier-2 loans before proceeding.
Step 5: Provide Business and Financial Information
In the Business Details section, enter the following information:
- Business Name and contact details.
- The number of employees in your business.
- You can also add the names of owners, partners, or shareholders involved in the business.
In the Financial Details section, provide information such as the purpose of the loan, your business’s nature, and its status. Include details about your current business income and expenses.
Step 6: Submit Documents and Finalize Your Application
After completing all the sections, upload the required documents, including your CNIC copies, passport-size photo, business financial statements, tax returns, and a business feasibility report. You may also need to provide proof of your business address, such as a lease agreement or property documents. Once everything is uploaded, click submit, and you’ll receive your application number and confirmation via SMS.
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Conclusion
In this article, we have shared all the details on how to apply for the Asaan Karobar Finance Scheme. By following the step-by-step guide, you can easily apply for an interest-free loan to grow or modernize your business. Make sure you meet the eligibility requirements, prepare your documents in advance, and complete each section of the application carefully. With this scheme, the Punjab government aims to help entrepreneurs build and expand their businesses, contributing to the economic growth of the region.
FAQs
What is the maximum loan amount under the Asaan Karobar Scheme?
The maximum loan amount for Tier-2 is 30 million PKR, while for Tier-1, it ranges from 1 million to 5 million PKR.
Can I apply for the Asaan Karobar Finance Scheme if I am not an active tax filer?
No, you must be an active tax filer to qualify for the Asaan Karobar Finance Scheme.
How much is the application fee for the Asaan Karobar Finance Scheme?
The application fee for Tier-1 is PKR 5,000, and for Tier-2, it is PKR 10,000.
What documents are required to apply for the Asaan Karobar Finance Scheme?
You will need documents such as your CNIC, business details, tax returns, proof of business address, and a feasibility report for your business.