Prime Minister Youth Business Loan Scheme 2013 Downlad form and other Informations for National Bank and First women Bank
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| Brief Description | Small business Loans will focus on (but will not be restricted to unemployed youth, especially educated youth looking for establishing or extending business enterprises. |
| Eligibility criteria | All Men/Women holding CNIC, aged between 21 and 45 years with entrepreneurial potential to apply from designated branches mapped with area of residence/business. |
| Security Requirements | One Guarantor |
| Permissible Collaterals | Business hypothecation |
| Focus on women | 50% of loans will go to women borrowers. |
| Debt-Equity ratio | 90:10 The borrowers’ contribution of equity would be in the form of cash or immovable property and will be required after approval of the loan. |
| Loan Period | The maximum tenor of the loan is 8 years, including one year’s grace period |
| Pricing | 8% fixed of borrower. Government will pay the difference of the cost of KIBOR + 500 bps. |
| Number of loans | 100,000 |
| Size of Loan | Upto Rs 2,000,000 (Twenty Lacs) |
| Allocation in budget 2013-14 | Rs. 5 Billion |
| Executing agency | IIn the first instance, National Bank of Pakistan (NBP) and First Women Bank Limited (FWBL) under the guidance and supervision of State Bank of Pakistan( SBP) to ensure participation of private banks:a) Private banks will be required to participate in this scheme on the basis of soundness of business proposals; and
b) SBP will encourage private banks to build this portfolio commensurate with their size. c) SBP will arrange appropriate training for private banks to implement this scheme. d) NBP will continue to play the lead role |
| Sectors and Products | All sectors. Standardized schemes /projects/undertakings will be designed by SMEDA, projects designed by private sector service providers or individuals themselves will also be admissible.Role of SMEDA:
a) The 50 feasibilities prepared and uploaded by SMEDA will b extensively publicized and their access to public made easier through multiple linkages with other relevant websites. b) SMEDA will work closely with Punjab Information Technology Board (PITB) to ensure that the schemes are accessible to those who participate in PITB survey. |
| Application Form | The Form would be both in English and Urdu, and required minimum essential information with simple format.The processing time will not exceed 15 days and will be so stated clearly in the application form; and
The form would be readily available both in branches and through dedicated websites of the banks. Non- refundable form processing fee will be Rs. 100 (One Hundred) |
| Monitoring | SBP will publish consolidated information about the loans extended under the scheme for information of the public on quarterly bases on its website;An effective Complaints Center to process and resolve complaints will be set up;
E-government directorate of Ministry of IT will provide support |
| Geographical Distribution | Whole of Pakistan. In case of Baluchistan, at least one branch of NBP will be designated per Division.All non-designated branches will also provide and receive filled application forms and dispatch them to the nearest branches. |
First Woman Bank
Purpose of Scheme:
To provide small business loans in shape of Term loan focus on (but will not restricted to) unemployed youth, especially educated youth looking for establishing or extending business enterprise.
Eligibility Criteria:
Females age between 21 to 45 year holding valid CNIC, having ability to start their own business or intend to expand the existing business. Applicant should have some experience of relevant field or holds a business related diploma/certificate pertaining trade of proposed business
setup.
Pricing/Mark-up Rate:
8% p.a.
Tenor:
The maximum tenor of the loan is 8 years, including 1 year’s grace period. The tenor will depend upon the nature of business, pattern of income and repayment capacity.
Finance Limit:
Maximum up-to: Rs. 2,000,000/-
Processing Time:
Processing time will not exceed 15 working days after submission of complete basic documents by the applicant.
Borrowers Capital:
10% of the loan amount
Collateral/Security:
1- Personal guarantee of high net/credit worthy individuals including Government servants minimum in BPS 15.
2- Hypothecation of Business Stocks.
Repayment of Loan:
Equal monthly installments with grace period of 12 months for principal payment Sector and Products All sectors. Borrowers will be encouraged to obtain standardized
schemes/projects/undertakings from SMEDA or any other body but this will not be mandatory for the borrower
For Prime Minister’s Youth Business Loans Click Here
For pre feasibilities studies please visit smeda link
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