Asaan Karobar Loan Scheme: Eligibility, Application Procedure and Complete Guide
Asaan Karobar Loan Scheme
The Asaan Karobar Loan Scheme launched under the patronage of Punjab Chief Minister Maryam Nawaz Sharif is a revolutionary step for the small and medium enterprises (SMEs) and new startups of the province. The scheme aims to financially empower the youth, women, rural entrepreneurs and other disadvantaged sections so that no great business idea goes to waste simply due to lack of capital.
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The program is being considered as an important milestone in creating employment opportunities, promoting economic development and encouraging the business community in the province.
What Is Being Provided Under The Scheme?
The scheme provides loans through two main tiers and a special Asaan Karobar Card:
Tier-1:
- Unsecured Loans
- Amount: Maximum Rs. 50 lakh
- Only personal guarantee is sufficient
Tier-2:
- Secured Loans
- Amount: Rs. 60 lakh to Rs. 30 crore
- Property or other assets as collateral
Asaan Karobar Card:
- Instant and easy loan facility
- Amount: Maximum Rs. 10 lakh
- No collateral required
Eligibility Criteria
To apply, the candidate must fulfill the following conditions:
- Must be a resident of Punjab and have a CNIC.
- Must be between 25 and 55 years of age.
- If there is an existing business, it should have proper registration and previous records.
- Credit history should be clean.
- A suitable business plan or expansion plan is mandatory.
- Women, youth, persons with disabilities and rural entrepreneurs will be given preference.
Application Process
- Register on the official web portal.
- Select the tier as per your requirement and available collateral.
- Prepare the necessary documents, which include:
- National Identity Card (CNIC)
- Business Plan
- Financial documents (if there is an existing business)
- Details of property or assets (for Tier-2 only)
- Passport size photographs
- Pay processing fee:
- Rs. 5,000 for Tier 1
- Rs. 10,000 for Tier 2
- After approval, the loan will be transferred directly to the applicant’s bank account.
Loan Structure Overview
| Loan Type | Amount | Collateral | Processing Fee | Tenure (Duration) | Grace Period |
|---|---|---|---|---|---|
| Tier 1 | Up to 5 million | No (Only Personal Guarantee) | Rs. 5,000 | Up to 5 years | 6 months for new businesses, 3 months for existing ones |
| Tier 2 | 6 million – 30 million | Yes (Asset/Property) | Rs. 10,000 | Up to 5 years | 6 months for new businesses, 3 months for existing ones |
| Asaan Karobar Card | Up to 1 million | No | None | Flexible | Immediate facility |
Salient Benefits of the Scheme
- Interest-free loans for small businesses.
- Financial opportunities for youth and women.
- Encouragement of entrepreneurs in rural areas.
- Capital to expand existing businesses and start new ones.
- Easy and transparent online application system.
Conclusion
The Punjab Chief Minister’s Asaan Karobar Loan Scheme is a golden opportunity for small and medium businesses. It is not just a loan but a support through which youth, women, disabled people and rural entrepreneurs can turn their dreams into reality.
If you have a new business idea or want to expand your existing business, then this scheme is the best opportunity for you.
