The Punjab government has created the Asaan Karobar Card, which offers interest-free loans to SMEs to boost economic growth and foster entrepreneurship. Entrepreneurs can register for the card through the official portal, akc.punjab.gov.pk, which aims to empower the province’s SMEs.
| Loan Tier | Loan Amount | Security | Repayment Period | Application Fee |
|---|
| Tier 1 (T1) | PKR 1 million to PKR 5 million | Personal guarantee | Up to 5 years | PKR 5,000 |
| Tier 2 (T2) | PKR 6 million to PKR 30 million | Property or asset security | Up to 5 years | PKR 10,000 |
Eligibility requirements for the Asaan Karobar Card
Business Application Criteria:
- Business Size: Small Enterprises (up to PKR 150 million). Visit the official website
- Medium Enterprises: (between PKR 150 million and PKR 800 million)
- Age: 25-55 years
- Residence: Both residence and business in Punjab
- Identification: Valid CNIC and NTN
- Business Premises: ownership or rental agreement.
Loan Details for the Asaan Karobar Card
Loan amounts range from PNR 1 million to PNR 5 million, with a personal guarantee of up to 5 years, a PNR 5,000 application fee, and up to 5 years of property or asset security. You Can Also Read
Additional Information
Grace Period for Businesses
- Up to 6 months for new businesses.
- Up to 3 months for existing businesses.
Equity Contribution
- None for T1, except for leased vehicles (25%).
- 20% for other cases under T1 and T2.
- Women, transgender, and differently-abled persons contribute 10%.
Late Fees
- PKR 1 per PKR 1,000 overdue per day.
Other Costs
- No annual fees for new or eco-friendly businesses.
- Existing businesses pay 3% per year. You Can Also Read
Register now for the Asaan Karobar Card at the portal.
Asaan Karobar Card Application Process
- Preparation of Documents: passport, CNIC, mobile number, non-relative references, tax filing status proof, and business documents.
- Registration on the Asaan Karobar portal: Visit akc.punjab.gov.pk and sign up using a registered mobile number.
- Online Application Form: Fill out the 15-minute form, save progress, and complete it later.
- Upload Documents and Pay Fees: Pay the non-refundable application fee (PKR 5,000 for T1 and PKR 10,000 for T2).
- Submission and Tracking: Receive registration number and track application status via SMS updates or portal.
Documentation Needed for the Asaan Karobar Card
T2 Loan Application Requirements
- Passport-size photo or selfie.
- CNIC (front and back).
- Mobile number registered under the name.
- CNIC copies and mobile numbers of two non-relative references.
- Proof of tax filing status.
- Business income and expense details.
- Proof of business and residence addresses.
- Details of security for T2 loans.
Conclusion
Punjab entrepreneurs can apply for and be eligible for interest-free financing for business endeavors through the Asaan Karobar Card at akc.punjab.gov.pk. frequent updates on due dates and changes.