Check Eligibility Criteria Asan Karobar Scheme has been launched by Mrs. Maryam Nawaz Sharif to support small and medium-sized entrepreneurs. The main objective of which is to benefit small entrepreneurs. It has been decided to provide loans of about one lakh to one million for the Easy Business Card. You can also contact the helpline number for this scheme.
The helpline number 1786 has been set for this, you can also know about the Business Card through this number. The Punjab government has launched this scheme to eliminate unemployment in Punjab empower Punjab in the morning and provide employment to the poor. This scheme has a lot of benefits. If you are eligible and want to check the eligibility, then in this article you will be given the details of the eligibility.
What is the Asan Karobar Finance Scheme?
The Asan Karobar Finance Scheme is a significant initiative by the Punjab government to provide financial support to small and medium enterprises (SMEs) across various sectors, including agriculture, manufacturing, and services.
You can also read: Registration Check Procedure: Asan Karobar Scheme Start By Maryam Nawaz
The scheme was introduced by Chief Minister Maryam Nawaz Sharif, with a focus on promoting job creation, enhancing exports, and driving sustainable economic growth in the province. Through this scheme, businesses can receive loans with low or no interest, depending on the loan tier, which will be paid back in installments.
Objectives of the Scheme
The primary goal of the Asan Karobar Finance Scheme is to support entrepreneurs by:
- Providing financial resources to establish new businesses.
- Helping existing businesses grow and expand.
- Encouraging the modernization of business operations to increase efficiency and competitiveness.
- Fostering job creation and contributing to the overall economic growth of the region.
Loan Structure and How the Scheme Works
The Asan Karobar Finance Scheme offers two distinct types of loans, each designed to cater to businesses of various sizes and needs:
Tier-1 Loan
- Loan amount: Up to Rs 5 million.
- Unsecured loan: No collateral is required to back the loan, meaning you don’t have to risk your property or assets.
- It is granted based on a personal guarantee, which means the business owner will guarantee the repayment of the loan personally.
Tier-2 Loan
- Loan amount: Rs 5 million to Rs 30 million.
- Secured loan: This loan requires collateral to back the loan amount.
- Tier-2 loans are intended for larger businesses that need more capital to expand or modernize their operations.
Repayment Terms
- Repayment period: The loan repayment period is up to 5 years, allowing businesses to manage their finances comfortably.
- Grace period:
- For new businesses (Greenfield): 6-month grace period before starting repayment.
- For existing businesses (Brownfield): 3-month grace period before starting repayment.
Eligibility Criteria for New Applicants
To qualify for the Asan Karobar Finance Scheme, applicants must meet specific eligibility criteria. Here’s what you need to check before applying:
1. Age Requirement
Applicants must be aged between 25 and 55 years. This age range ensures that the applicant is mature enough to manage a business but still within an active working age.
2. Clean Credit History
Having a clean credit history is crucial. The Punjab government is looking for entrepreneurs with no previous financial defaults or issues. A good credit history demonstrates your ability to manage financial obligations responsibly.
3. Business Premise
You must own or rent a business premise. Whether you’re running a physical store, an office, or any other form of business, you need a registered location for your operations. If you don’t own the property, renting is also acceptable.
You can also read: AKC Asan Karobar: This Scheme Was Started by Maryam Nawaz (Good Update)
Special Features of the Scheme: The Assan Karobar Card
One of the most innovative features of the Asan Karobar Finance Scheme is the Assan Karobar Card. This digital card is designed to make the loan process easier and more accessible to entrepreneurs. Here’s how it works:
- Loan Amount: You can receive interest-free loans up to Rs 1 million through the Assan Karobar Card.
- Business Transactions: The card can be used for business-related transactions through mobile apps and point-of-sale (POS) systems.
- Repayment Period: The loan comes with a 3-year tenure, and you get a 3-month grace period before the first installment is due.
This card makes it easy for entrepreneurs to access funds and manage their business expenses digitally, ensuring greater convenience and transparency.
Additional Benefits for Entrepreneurs
In addition to the loans, the Asan Karobar Finance Scheme offers several other incentives to make the scheme even more appealing to entrepreneurs:
1. Capital Subsidy
Entrepreneurs who invest in solar equipment or adopt cleaner production technologies are eligible for a capital subsidy of up to Rs 5 million. This encourages businesses to adopt eco-friendly technologies, which helps protect the environment while enhancing operational efficiency.
2. Non-Financial Advisory Services
Apart from financial support, the government offers non-financial advisory services. These services help businesses with strategic planning, decision-making, and guidance on how to scale up and achieve long-term success.
3. Industrial Estates
The government is developing small industrial estates in various areas like Sialkot, Gujrat, and Quaidabad. These estates offer affordable locations for businesses to set up their operations, thus reducing the cost of starting and expanding a business.
4. Tannery Zone in Sialkot
For businesses involved in the leather industry, a dedicated tannery zone will be established in Sialkot. This zone will address environmental concerns like water pollution and provide a better infrastructure to boost leather exports.
5. Affordable Long-Term Leases
To make it easier for businesses to establish themselves, the government is offering long-term land leases of up to 30 years in these industrial estates.
Future Plans for the Asan Karobar Finance Scheme
The Asan Karobar Finance Scheme is expected to expand even further in the coming years. The government has announced plans for Phase II of the scheme, which will have a budget of Rs 100 billion. This phase aims to support 24,000 SMEs across the province, to distribute Rs 379 billion in loans.
The second phase of the scheme is expected to launch in the 2025-26 fiscal year and will play a pivotal role in creating a thriving business ecosystem across Punjab.
You can also read: How to Apply for the Asaan Karobar Finance Scheme 2025
Conclusion
The Asan Karobar Finance Scheme is a game-changing initiative for small and medium-sized enterprises in Punjab. By offering affordable loans, capital subsidies, and strategic support, the scheme provides entrepreneurs with the necessary resources to grow their businesses. The Assan Karobar Card simplifies loan management, while additional benefits like industrial estates and non-financial advisory services ensure that businesses have everything they need to succeed.
If you’re a new entrepreneur looking to start or expand your business, checking the eligibility criteria is the first step. Make sure you meet the age, credit history, and business premise requirements before applying. With the right support, you can take full advantage of this fantastic opportunity to turn your business dreams into reality.