Prime Minister of Pakistan has launched a set of six schemes. Small business loan scheme is one of them. PM announced that small business loan scheme will start from 2nd December, 2013. Loans ranging from 5 lakh (500,000) to 20 lakh (20,00,000) will be given to talented and competent candidates whose ideas will be scrutinized by the banks.
Guidelines for Prospective Loan Applicants
SMEDA has taken the initiative of developing pre-feasibility studies in fifteen sectors, and as per directions of the Prime Minister, has made them available to new start–up SMEs, through the SMEDA website, for the promotion of an entrepreneurial culture in Pakistan. To date, our website has recorded more than 117,000 downloads of the published pre-feasibility reports.
These prefeasibility studies provide a general understanding of the proposed business, and are structured like a business plan. However, to assist the prospective entrepreneurs / loan applicants, SMEDA will provide a template for business plan preparation and requisite guidelines for the loan applicants, as soon as the loan application forms are made available by the participating banks on their respective websites.
All the necessary arrangements which were required for the start of this scheme has been completed. After finalizing this scheme is going to be started on December 2, 2013. Prime Minister Nawaz Sharif, as usual, ordered to ensure full transparency (100%) and merit in the loans provision process.
If any one finds wrong in the process call at 0800-77000, it is a toll free help line, established on for the people of Pakistan who can call and report problem and complain. If you have any complaint against the Small Business Loan Scheme, then you can call PM Office at 0800-77000. This helpline is free from PTCL numbers and complaints will be entertained only through this number.
Under the Prime Minister’s Business Loan Scheme, 50% loans have been allocated for women, especially the educated ones, and 5% quota has been reserved for widows, families of the Shaheeds and disabled. The meeting was briefed that a stringent monitoring system would be put in place to save the Loan Scheme from malpractices and corruption.
For further details, please contact: NBP, FWBL