The CM Punjab Asaan Karobar Card Scheme is a perfect model for boosting small businesses all around the Punjab province. This scheme enables Easy access to Interest-free loans of up to PKR 1 million through the use of an online SME Card. It is feasible to use the funds for business expansion, production, utilities, and other expenses clearly and efficiently through a mobile application and point-of-sale systems.
About the Asaan Karobar Card Program
The CM Punjab Asaan Karobar Card is indeed a revolutionary policy meant to form a base to support raw and budding entrepreneurs in Punjab. It provides up to PKR 1 million interest-free loans to aspiring business individuals, removing all the economic challenges from their way to let them perform better on their business front.
Because of the revolving characteristic and the possibility to repay it remotely, the credit is suitable for developing or stabilizing a company.
Features of the Asaan Karobar Card
The Asaan Karobar Card can be counted as a novel financial instrument exerting a genuine focus on small traders and small business people of Pakistan. This credit card is a distinctive form of credit card that assists business people in accessing the funds that they require to finance their business objectives. It is an instrument that aims to enable the business.
The Loan Amount Limit
Asaan Karobar Card, the maximum possible limit of loan is PKR 1 million which is available for the business only. It has a pool up to PKR 1 million for providing small loans to the start-ups and to those who invested their money for working capital and to start their own business for its expansion.
The type of loan
Besides categorizing as either a revolving credit facility or credit distribution which kind of loan does the company have? Also was this loan opened again last year? A company receives multiple permission to take funds from the loan during its designated period.
Grace Period
After you get the card, the companies will have a 3-month grace period without any repayment. Businesses use this period of grace to use the funds and create revenue before they must once again begin paying the borrowed loan back.
The 0% Interest Rate
The most stands out of all aspects of the Asaan Karobar Card are the 0% interest rate. It is interest-free — a small business owner can get capital without paying high interest in repayments. The Asaan Karobar Card has these key features that make it an affordable and flexible loan solution that will help businesses prosper and grow in Pakistan without the financial stress that comes with a loan.
What Are The Basic Requirements To Qualify For The Asaan Karobar Card?
- It is necessary to have a Pakistani nationality and a resident of Punjab.
- Be aged between 21 and 57 years.
- Possess a valid CNIC and a registered mobile number.
- Own or plan a business located in Punjab.
- Have a clean credit history with no overdue loans.
- Pass psychometric and credit assessments conducted by authorized agencies.
- Register the business with PRA/FBR within six months of receiving the card.
- Only one application is allowed per individual or business.
Loan Usage and Repayment Details
Asaan Karobar Card provides borrowers with adaptability to spend their loans and repayment options as follows:
- The first 50% of the Loan is Accessible within the first six months after approval.
- A three-month time period exists before borrowers need to start making payments.
- The payments begin with a minimum monthly fee of 5%, which represents the current outstanding loan amount.
- Released upon satisfactory usage and timely repayment of the first half.
- The remainder of the Asaan Karobar Card debt will be paid through equal monthly installments, which start after one year concludes.
Frequently Asked Questions Asaan Karobar Card
Any small or medium business owner residing in Punjab, Pakistan, with a legally registered business is eligible to apply.
Is the Asaan Karobar Card Loan interest-free?
Some loans under the Asaan Karobar Card Loan are interest-free, while others have low interest rates.
What is the duration for loan approval?
The approval timeline for loans extends from a few weeks because it depends on successful verification and accurate documentation submission.
Can we apply if we don’t have a registered business?
No, only legally registered businesses are eligible for the Asaan Karobar Card Loan.
Where can we check my application status?
You can monitor your application through the Punjab Government website after you log into your account.
Conclusion
Small business owners can obtain governmental financial support through the Punjab Asaan Karobar Card Loan. Punjab Asaan Karobar Card Loan delivers a simple registration system through the web with immediate funding that enables business owners to grow their operations quickly. The Asaan Karobar Card Loan program welcomes Punjab-based small businesses who should start an immediate registration to benefit from this beneficial initiative for more updates on business loans, government schemes, and financial opportunities in Pakistan.
