Step by Step process to Apply for theLoan Scheme 2013
1) Download the Application Form, Print it andFill it. Download. or you can get it from Following Banks, There is no cost ofapplication form. National Bank of Pakistan (NBP) First Women Bank (FWBL)
2) One personal guarantee required – No othersecurity Following individuals can provide guarantee for the loan applicants:Government Servant of BPS 15 or above, OR Any other individual having net worthof 1.5 times of the loan amount applied for. Net worth is total assets(Moveable or immoveable) in the name of the individual minus any liabilitiessuch as loans from banks or other individuals. No, Blood Relatives’ guaranteeis usually not acceptable to the Banks.
3) You are required for 10% of the loan amount asBorrowers Capital
4) If you are a bank defaulter, you areineligible. You cannot apply for loan
Following documents arerequired along with loan application form.
a) 1 Recent Passport size photograph of the applicant
b) Photocopy of Applicants CNIC
c) Photocopy of Guarantor’s CNIC
d) Basic Borrowers Fact Sheet (Part A of form)
e) Guarantor’s Information (Part B of form)
f) Copy of SMEDA Pre-feasibility Study or Applicant’s own prepared BusinessPlan / Feasibility / Project Proposal.
After Fulfilling All AboveRequirements
Submit Loanapplications can be submitted in all branches of following banks
National Bankof Pakistan (NBP)
First WomenBank (FWBL)
Rs 100 has tobe paid as processing charges to participating Banks at the time of formsubmission 15 days are required by participating banks to process theloan.
The bank willinform you about through letter / telephone call / SMS/email. The SMS will comefrom PM Youth Program or 80028 PMO website (www.pmo.gov.pk). Confirmation fromany other number / source should not be relied upon.
Loan Amount isup to Rs. 20 Lack (Rs.100000/= – Rs. 20, 00000/=) Maximum Loan under thisscheme is Rs. 20 Lack.
Total No. ofloans to be given are 100,000 for Year 2013-14
After you get Lone Start Working onyour Business
· First Loaninstallment will be due after one year of loan disbursement
· Sometimesbusinesses have problems. All loan beneficiaries are advised to give their bestto make their business successful. It is also advisable to keep your bankerinformed of any problems, which may affect your ability to repay loan and seektechnical guidance. SMEDA and the banks have been directed to put in placesystem of periodic guidance to the entrepreneurs in running their businessessuccessfully.
· Mark-up Rate is8% p.a.
· The maximumtenor of the loan is 8 years, including 1 year’s grace period. The tenor willdepend upon the nature of business, pattern of income and repayment capacity.