Asaan Karobar Finance Scheme
Online registration has started in the Asaan Karobar Finance Scheme launched by Punjab Chief Minister Maryam Nawaz Sharif. Good news for all those who were eager to get a loan is that now they will be able to register online from home. This program aims to provide interest-free loans to small and big businesses in Punjab so that there is economic growth entrepreneurship and job opportunities are created.
The aim of this loan is to provide funding to startups and create new job opportunities. In the Asaan Karobar Finance Scheme, loans are given from 1 million to 30 million; in Tier 1, loans are given from 1 million to 5 million. In Tier 2, loans are given from 6 million to 30 million. The official website akf.punjab.gov.pk has been launched by the government for online registration.
In this article, we will tell you the method of online registration in the Asaan Karobar Finance Scheme, eligibility criteria, its requirements and All the details related to this will be given to you in this article so that all your problems will be solved and you can easily apply for a loan from home.
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What is the Asaan Karobar Finance Scheme?
Asaan Karobar Finance Scheme is designed to provide financial support to entrepreneurs and businesses in Punjab. The scheme aims to:
- Support Startups: Provide initial funding to new businesses.
- Expand Existing Businesses: Facilitate growth and modernization.
- Promote Climate-Friendly Businesses: Encourage sustainable practices.
- Create Job Opportunities: Generate employment across various sectors.
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Asaan Karobar Finance Scheme Online Registration
The registration process in the Asaan Karobar Finance Scheme is very easy, you just have to follow a few steps and you will complete the registration.
- First, go to the official website of the Asaan Karobar Finance Scheme, akf.punjab.gov.pk, and click on the login button.
- If you are already registered, then you have to enter your username and password. If you are not registered, then you will see the Register Now button below, you have to click on it.
- A profile registration form will be shown in front of you.
- In this, you have to write your name as shown on the identity card, write the name of the father or husband, write the identity card number of the applicant, enter the email address, enter the date of birth, enter the age, enter the date of issue of the identity card, enter the expiry date of the identity card, enter the mother’s maiden name, do you have any disability confirmed through your identity card, you have to enter the type of disability, apply.
- You have to enter the gender, whether he is male or female, select the mobile phone network, enter the mobile phone network code, and then enter the mobile number
- Then you have to tell in whose name this SIM is registered, then you have to tell the current residential address, select the province, select the division, select the district, select the tehsil and then write the name of your city
- Finally, you have to enter your NTN number and tell about the ownership of the place of residence
- After that, you have to set your password and press the registered button
- A verification email will come to your email, you have to accept it and then you have to log in to your account by entering your identity card and password
- After registering, you have to enter your identity card and password, the portal will open in front of you
- You have to click on the New Application button After that, you will be asked for information about your business, land and profit, which you have to enter exactly. After that, your registration will be completed. After registration, you will be verified. After verification, you will be issued a loan from Bank of Punjab.
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Eligibility Criteria
To apply for the Asaan Karobar Finance Scheme, you must meet the following criteria:
- Residency: Must be a permanent resident of Punjab.
- Age: Between 25 and 55 years.
- Tax Status: Active tax filer registered with the FBR.
- Income: Small enterprises with annual sales up to PKR 150M or medium enterprises with sales between PKR 150M and 800M.
- Business Location: Business and residence must be located in Punjab.
- Valid Documents: CNIC, NTN, and proof of business ownership or lease.
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Loan Details and Tiers
| Tier | Loan Amount (PKR) | Security Required | Tenure | Processing Fee (PKR) | Interest Rate |
|---|---|---|---|---|---|
| T1 | 1M – 5M | Personal Guarantee | Up to 5 years | 5,000 | 0% |
| T2 | 6M – 30M | Secured | Up to 5 years | 10,000 | 0% |
- Grace Period:
- Up to 6 months for startups.
- Up to 3 months for existing businesses.
- Equity Contribution:
- 0% for Tier 1 loans (excluding leased vehicles).
- 10% for females, transgender individuals, and differently-abled persons.
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Benefits of the Asaan Karobar Finance Scheme
- Interest-Free Loans: Borrow without worrying about high interest rates.
- Streamlined Registration: Online application ensures easy access.
- Inclusive Program: Special benefits for women, transgender individuals, and differently-abled persons.
- Support for Green Businesses: Incentives for climate-friendly projects.
- Economic Growth: Helps create jobs and boost Punjab’s economy.
Common Mistakes to Avoid
- Incomplete Documents: Ensure all required documents are submitted.
- Incorrect Information: Double-check your CNIC, mobile number, and email address.
- Missed Deadlines: Submit your application promptly to avoid delays.
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Conclusion
Asaan Karobar Finance Scheme is a transformative initiative aimed at fostering economic growth and empowering entrepreneurs in Punjab. With interest-free loans and a user-friendly online registration system, this scheme provides an excellent opportunity for individuals to start or expand their businesses.
If you are eligible, do not miss this chance to apply. Follow the step-by-step guide, prepare your documents, and register today to secure your business funding and contribute to Punjab’s economic prosperity.
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