To provide self-employment opportunities and uplift the youth of the country, the Government of Pakistan has introduced a low cost financing scheme under the banner of Kamyab Jawan. The scheme offers subsidized loans to meet long-term and short-term financing needs.
PURPOSE OF FINANCE:
Long-term /Working capital loan requirement including leasing/ financing of locally manufactured vehicles for commercial use (only one vehicle per borrower)
ELIGIBILITY CRITERIA
All citizens of Pakistan holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible (For IT/E-Commerce related businesses, the lower age limit will be 18 years)
Small and Medium enterprises (startups and existing businesses) , as per definition of SBP, owned by youth as per the above mentioned age brackets are eligible.
For IT/E-Commerce related businesses, a minimum education level of matriculation or equivalent will be required.
FEATURES
The scheme is available in three tiers with the following main features:
| TIERS | AMOUNT (PKR) | PRICING | MINIMUM EQUITY REQUIREMENT (FOR STARTUPS ONLY) | SECURITY |
|---|---|---|---|---|
| Tier-1 | 100,000 to 1,000,000 | 3% | 10% | Personal Guarantee |
| Tier-2 | 1,000,001 to 10,000,000 | 4% | 20% | Collateral as per bank’s credit policy |
| Tier-3 | 10,000,001 to 25,000,000 | 5% | 20% | Collateral as per bank’s credit policy |
*pricing may change as per State Bank of Pakistan directives
**Vehicle financed under T1, T2 & T3 may serve as collateral
TENOR OF LOAN & REPAYMENT
- Up to 8 years with maximum grace period of up to one year
- Loan will be repaid in equal monthly / quarterly installments