Asaan Karobar Card Finance Scheme
Asan Karobar Card Finance Scheme is a wonderful initiative of the Punjab government aimed at providing interest-free loans to entrepreneurs and small businesses. Karobar Card Finance Scheme not only helps in starting new businesses but also plays an important role in expanding existing businesses and promoting environmentally friendly projects. Through this, the economy of Punjab is being strengthened by creating new employment opportunities.
Under Karobar Card Finance Scheme two tiers of loans are provided. In the first tier, no security is taken for loans of Rs 1 lakh to Rs 5 lakh, while in the second tier, security has to be provided for loans of Rs 6 lakh to Rs 3 lakh. The registration process for Karobar Card Finance Scheme is very easy, you can go to (http://akf.punjab.gov.pk and submit your application from home. After providing the necessary information and documents, your application will be verified and after approval, the loan will be released by the Bank of Punjab.
Karobar Card Finance Scheme provides special incentives, especially for women, transgenders, and people with disabilities, which promotes social inclusion. If you are a permanent resident of Punjab and your business is located here, then definitely take advantage of this opportunity. Take your business to new heights of growth by submitting your application through a simple and easy registration process.
Purpose and Objectives of the Asaan Karobar Finance Scheme
The Asaan Karobar Finance Scheme is a thoughtfully crafted program aimed at:
- Empowering Startups: Providing initial funding to kickstart new businesses.
- Business Expansion: Supporting existing businesses in scaling operations.
- Sustainability Promotion: Encouraging eco-friendly practices in businesses.
- Job Creation: Generating employment opportunities in Punjab.
Whether you are a budding entrepreneur or an established business owner, this scheme offers a golden opportunity to access the funds needed for growth.
Loan Details and Tiers
The scheme offers loans in two distinct tiers to cater to diverse business needs:
Tier 1
- Loan Amount: PKR 1 million to 5 million.
- Security: Personal guarantee.
- Tenure: Up to 5 years.
- Processing Fee: PKR 5,000.
- Interest Rate: 0% interest (completely interest-free).
Tier 2
- Loan Amount: PKR 6 million to 30 million.
- Security: Collateral required.
- Tenure: Up to 5 years.
- Processing Fee: PKR 10,000.
- Interest Rate: 0% interest.
Grace Period
- Startups: Enjoy up to 6 months grace period.
- Existing Businesses: Receive up to 3 months grace period.
Also Read: BISP 8171 Payment Status Check For 13500 New Installment Complete Guide
Eligibility Criteria for Karobar Card Finance Scheme
To apply for the Asaan Karobar Finance Scheme, you need to meet the following conditions:
- Residency: Must be a permanent resident of Punjab.
- Age Limit: Applicants should be between 25 and 55 years old.
- Tax Filing Status: Must be an active tax filer registered with the Federal Board of Revenue (FBR).
- Business Size:
- Small enterprises with annual sales of up to PKR 150 million.
- Medium enterprises with sales between PKR 150 million and 800 million.
- Documents Required:
- Valid CNIC.
- National Tax Number (NTN).
- Proof of business ownership or lease agreement.
- Business Location: Both the business and residence must be situated in Punjab.
How to Apply: Online Registration Process
Applying for the Asaan Karobar Finance Scheme is straightforward and can be done from the comfort of your home. Follow these steps:
- Visit the Official Website
Go to the scheme’s website: akf.punjab.gov.pk. - Register Your Profile
- Click on the “Register Now” button.
- Fill in the form with your personal details, including:
- Full name (as on CNIC).
- Father’s or husband’s name.
- CNIC number, issuance, and expiry dates.
- Date of birth, gender, and disability details (if applicable).
- Contact information: Email address, mobile number, and network details.
- Residential details: Address, city, district, and tehsil.
- Set Up Your Account
- Create a password for your account.
- Verify your email address through the link sent to your email.
- Submit a New Application
- Log in with your CNIC and password.
- Click on “New Application” and provide all details about your business, including:
- Business type, location, and revenue.
- Land ownership or lease details.
- Verification and Loan Disbursement
- Once your application is submitted, it will be verified.
- After approval, the loan will be issued by the Bank of Punjab.
Also Read: Benazir Kafalat Payment Verification Details, Verify your Eligibility Through BISP Office & Portal
Benefits of the Asaan Karobar Finance Scheme
This initiative comes with a host of benefits to help entrepreneurs thrive:
- Interest-Free Loans: Remove the financial burden of paying high interest rates.
- User-Friendly Registration: The online process is simple and convenient.
- Inclusion and Equality: Special benefits are offered to women, transgender individuals, and differently-abled persons.
- Green Initiatives: Support for eco-friendly business models.
- Economic Development: Contributing to job creation and Punjab’s economic growth.
Common Application Mistakes to Avoid
To ensure a smooth application process, avoid these pitfalls:
- Incomplete Documentation: Ensure all required documents are submitted.
- Incorrect Details: Double-check your CNIC, contact number, and email address.
- Missed Deadlines: Submit your application on time to avoid rejection.
Conclusion
The Asaan Karobar Finance Scheme is a groundbreaking opportunity for entrepreneurs and business owners in Punjab. With its interest-free loans, user-friendly online application system, and inclusive approach, the program provides a significant boost to the province’s entrepreneurial ecosystem.
If you meet the eligibility criteria, do not miss this chance to secure funding for your business. Visit the official website today, complete the registration process, and take the first step towards achieving your business goals and contributing to Punjab’s economic prosperity.
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