Asan Karobar Portal Asan Karobar Scheme Card is a groundbreaking initiative by CM Maryam Nawaz to empower entrepreneurs in Punjab. This scheme offers interest-free loans to both new and existing businesses, helping them grow and contribute to the province’s economic development.
The process to register for this scheme has been made easy and accessible through the Asan Karobar Portal. If you’re an entrepreneur looking for financial assistance to expand your business, this article will guide you through everything you need to know about registering for the Asan Karobar Card.
What is the Asan Karobar Scheme?
The Asan Karobar Scheme is designed to support businesses in Punjab by offering interest-free loans. Entrepreneurs can borrow amounts ranging from PKR 1 lakh to PKR 3 crore to launch a new business or expand an existing one.
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The main goal of this initiative is to encourage entrepreneurship, create jobs, and contribute to the local economy. The loan comes with flexible repayment terms, making it easier for businesses to thrive without the pressure of high-interest payments.
Benefits of the Asan Karobar Card
The Asan Karobar Card comes with several benefits that make it an attractive option for entrepreneurs looking for financial assistance:
- Interest-Free Loans: One of the standout features of this scheme is the zero-interest loans, which range from PKR 1 lakh to PKR 3 crore.
- Flexible Repayment Terms: The repayment period stretches over 5 years, giving you enough time to comfortably repay the loan through monthly or quarterly installments.
- Support for New and Existing Businesses: Whether you are launching a startup or growing an existing venture, the Asan Karobar Scheme is open to both.
- Encouragement for Priority Groups: The scheme particularly encourages applications from women, youth, and underserved communities, ensuring inclusivity.
- Economic Growth: The scheme is designed to stimulate job creation and boost local economies, particularly in sectors like retail, agriculture, and technology.
Who Can Apply for the Asan Karobar Card?
To qualify for the Asan Karobar Card, applicants must meet certain criteria. Here are the key eligibility requirements:
- Age: Applicants must be between the ages of 25 to 55 years.
- Residency: You must be a permanent resident of Punjab (with CNIC verification).
- Tax Compliance: Only registered tax filers can apply for the loan. This helps ensure financial transparency.
- Business Proof:
- For new businesses, a solid business plan or startup proposal is required.
- For existing businesses, applicants must provide bank statements and profit/loss records for the past 6 months.
- Priority for Underserved Groups: The scheme encourages applications from women, youth, and marginalized communities.
Documents Needed for Asan Karobar Card Registration
To ensure a smooth application process, gather the following documents before applying for the Asan Karobar Card:
- CNIC Copy (front and back)
- Recent Passport-Sized Photo
- Tax Filing Proof (FBR certificate)
- Business Documents:
- For Startups: A business plan, projected income, market analysis.
- For Existing Businesses: Bank statements for the last 6 months, profit/loss records.
- Property Documents: These are required if the loan amount exceeds PKR 1 crore.
- Proof of Address: Utility bill or rental agreement.
- Guarantor Details: If you are applying for a loan larger than PKR 1 crore, you’ll need to provide details of a guarantor.
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How to Register for the Asan Karobar Card
The application process for the Asan Karobar Card is simple and can be completed entirely online through the Asan Karobar Portal. Here’s how you can register:
Step 1: Visit the Official Portal
Go to the official portal at afd.punjab.gov.pk.
Step 2: Create an Account
You’ll need to register by providing your CNIC number and an active mobile number. Once registered, you’ll have access to your account.
Step 3: Fill Out the Application Form
Complete the online application form by providing your business and personal details. Make sure to upload scanned copies of all the required documents.
Step 4: Pay the Application Fee
There is a non-refundable fee of PKR 1,000 that you can pay online or via a bank challan.
Step 5: Track Your Application
Once you’ve submitted your application, you’ll receive a registration number via SMS. You can use this number to track the status of your application on the portal.
Repayment Terms and Loan Details
The Asan Karobar Scheme offers flexible repayment options:
- Grace Period: Repayment starts after a 6-12 month moratorium, depending on the size of your loan.
- Installments: You can choose to repay monthly or quarterly, depending on your business’s cash flow.
- Collateral: Collateral is only required for loans above PKR 1 crore. For smaller loans, you can provide a guarantor.
Frequently Asked Questions (FAQs)
Q1: Can non-tax filers apply?
- No, only registered tax filers can apply for the scheme.
Q2: Is collateral required for small loans?
- Collateral is required only for loans exceeding PKR 1 crore. Smaller loans may require a guarantor instead.
Q3: How long does approval take?
- Application processing can take 15–30 days after the submission and verification of documents.
Q4: Can I apply offline?
- Yes, you can visit your nearest Punjab Bank of Commerce (PBC) branch for assistance if you prefer to apply offline.
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Conclusion
The Asan Karobar Scheme Card is more than just a loan; it’s a gateway to success for entrepreneurs in Punjab. By offering interest-free loans, flexible repayment terms, and an easy online registration process, this scheme helps businesses of all sizes grow and contribute to the local economy.
Whether you are launching a startup or looking to expand your business, this initiative provides the financial support you need to thrive. To get started, visit afd.punjab.gov.pk today and take the first step toward a successful business journey!