CM Punjab Assan Karobar Finance Scheme
The CM Punjab Assan Karobar Finance Scheme 2025 is a significant initiative that the Punjab government has launched for the province’s small and medium-sized business owners. This program’s primary goal is to give financial support to the business and youth communities. in order for them to start, expand, and actively participate in the economy.This scheme has been developed in collaboration with the Punjab govt and Bank of Punjab (BOP), while the Punjab govt will provide interest subsidy through the Punjab Small Industries Corporation (PSIC) so that entrepreneurs can get easy and interest-free loans.
The scheme’s goal
The Assan Karobar Finance Scheme’s goal is to give Punjab’s small and medium-sized businesses financial support so they can boost output, generate jobs, boost exports, and fortify the province’s economy.
The following uses for this loan are possible
- growth of an already-existing company
- Fixing or swapping out company equipment
- Investing as working capital
- Commercial vehicle or logistics service leasing facility
Participation of Borrowers in Equity
Before receiving the loan, the applicant will need to make a personal capital contribution of a certain percentage.
- Tier 1 requires no capital, with the exception of leased cars.
- For commercial vehicles, a minimum of 25%
- 20% for Tier 2.
- 10% off for women, transgender individuals, and those with disabilities
- Cash or real estate may be used to deposit this capital.
System of Payment and Installment
- Equal monthly installments will be used to repay the loan.
- When the loan is approved will determine when the first installment is due.
- A penalty of one rupee per day for every 1000 rupees will be applied if the installment is paid after the due date.
Qualifications
This program is only available to people who fit the State Bank’s definition of SME (Small & Medium Enterprises).
The following are the main criteria for eligibility
- Annual revenue for the business:
- Up to 15 crore rupees for small businesses
- Medium-sized company: 15–80 crore rupees
- The candidate must be a current taxpayer.
- should be in the age range of 25 to 55.
- must be a Punjabi resident.
- It ought to be set up in Punjab.
- Evidence of tenancy or ownership of the company’s space.
- A spotless credit history is ideal.
- Both the CNIC and NTN numbers must be current and legitimate.
- One business may only receive one loan.
How to Use It
- Candidates must fill out the form on the internet at https://akf.punjab.gov.pk/landing.
- Complete all the fields accurately and attach the necessary files.
Following application submission, Bank of Punjab will confirm your information, and upon loan approval, the funds will be transferred straight to the account.
Loan Limit and Debt Burden Ratio
- Tier 1: Loan up to 40 percent of the applicant’s monthly income can be given.
- Tier 2: Loan up to 50 percent of the applicant’s monthly income can be given.
A Special Place for Women, Transgender People, and People with Disabilities
To empower the weaker segments of society, the Punjabi government has made particular concessions.
A significant advantage over the other participants is that under Tier 2, women, transgender people, and people with disabilities will only need to contribute 10% of their capital.
Insurance as well as additional costs
- It is required that the vehicle or property purchased with the loan be fully insured.
- When the loan is disbursed, the first year’s insurance fee will be deposited.
- The applicant will be in charge of any paperwork, court cases, registration fees, or other bank charges.
Processing Charge
- Category: Procedure Tier Fee: Rs 5,000
- Tier 2: 10,000 rupees
Conclusion
The Punjab Government’s flagship CM Punjab Easy Business Finance Scheme 2025 aims to provide financial stability to women, entrepreneurs and youth. Along with interest-free loans, the program also provides advice on starting and expanding businesses. This scheme is the best opportunity to make your dream a reality if you have a solid business idea and are just waiting for funding.