The scheme will cater to youth between 21-45 years, and provide subsidized financing through the National Bank Of Pakistan, Bank of Punjab and Bank of Khyber under the supervision of State Bank of Pakistan.
The loans will be distributed to SME beneficiaries across Pakistan in Sindh, Punjab, Khyber Pakhtunkhwa, Balochistan, Gilgit Baltistan and AJK; one of the program’s aims is to provide 25% of the loans to female entrepreneurs.
The loans will fall in two categories being Tier 1, which will provide loans ranging from Rs. 100,000 to Rs. 500,000, and Tier 2, which will provide loans between Rs. 500,000 to Rs. 5,000,000.
Only in the case of IT or computer related businesses does the minimum age limit extend to 18 years.
The loan application forms can be found in person at the bank, or online.
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