Kamyab Jawan loan application

Finance
Kamyab Jawan loan application img


Everyone needs money to launch their startup or expand their current business. However, investing more capital while managing your current costs and expenses can prove very difficult. One solution to this circular problem can be obtaining a loan to grow your business.

The Youth Entrepreneurship Scheme is part of the new Kamyab Jawan Program launched by the Government of Pakistan to facilitate the creation of jobs by providing subsidized business loans to the private sector. Although most commercial banks provide such loans, the Youth Entrepreneurship Scheme offers a flexible payment tenure. And the lowest markup rate in the market and this makes it a very attractive choice for any young entrepreneur in Pakistan. Continue reading below to find out if you qualify Kamyab Jawan loan application.

Who can apply?

Any Pakistani citizen between the ages of 21 and 45 may apply. If the loan is taken for an e-commerce or IT related business. The age limit can be further still to includes citizen's as young as 18 years of age.

How much can you borrow?

A Tier #1 loan between 0.1 million PKR and 1 million PKR may be acquired with a 3% markup and a debt to equity ratio of 90:10 for any new business. Tier #1 loan does not require any collateral but a personal guarantee must be provided.

A Tier #2 loan between 1 million PKR and 10 million PKR may be acquired with a 4% markup and a debt to equity ratio of 80:20 for new businesses. Any loan falling within this tier would be safe and collateral will have to be provided.

A Tier #3 loan between 10 million PKR and 25 million PKR may be acquired with a 5% markup. And a debt to equity ratio of 80:20. If you opt for a loan under Tier 3, you will have to provide security via  collateral.

What is the payment plan?

The loan might be pay back in equal monthly, quarterly, bi-annual or annual instalments. The maximum period to repay the loan is 8 years however, a grace period of one year is allowed. The terms and conditions of the payment plan may vary depending on which bank facilitates the loan. We recommend that you make sure to negotiate the best possible terms with your bank before taking up the loan.

Where do I start?

The Kamayab Jawan Youth Entrepreneurship Scheme only accepts applications online through their web portal and a one-time processing fee of 100 PKR is applicable. Once you submit your application, you will receive a confirmation SMS. The bank will then process your application and contact you within 30 business days. Click here to access the web portal and submit your application.

You should carefully consider your options before you opt for a specific tier. Note that loans provided under Tier #1.  Offer the lowest markup rate and the easiest application without the hassle of providing collateral. Which can involve mortgaging your property. Moreover, in case your business involves commercial usage of vehicles, the Youth Entrepreneurship Scheme also offers the facility to lease locally manufactured vehicles under the same terms and conditions.

Please do not hesitate to comment down below if you have any further questions, or take a look at Kamyab Jawan loan application and the official FAQs here.

The information presented does not constitute legal advice. If you need more information or have a query, post on Sidekick.pk and get proposals from trusted Professionals.