Asaan Karobar Card
The Punjab government, headed by Chief Minister Punjab Maryam Nawaz Sharif, has formally launched the CM Punjab Asaan Karobar Card. The aim of this unique initiative is to help small business owners and entrepreneurs. The Punjab government has launched this program with a huge amount of more than Rs 48 billion for startups and small businesses, under which interest-free loans of up to Rs 1 million will be provided. The most special thing about this program is that the borrowers have been given the facility to repay this amount in easy installments of three years. In addition, men, women, transgenders, and special people can also apply for this program, due to which this program is proving to be beneficial for every section of the society.
So if you are associated with any startup or small business and want to expand your business further, then this program can prove to be extremely beneficial for you. You can benefit from it very easily. This article provides a step-by-step guide to guide you so that you can submit your application online for a loan under the Easy Business Card from home. If you are interested in getting complete information, then you are requested to read this article till the end. It has provided all the necessary information for your convenience, which is very important for understanding and completing the loan process easily.
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Eligibility Criteria
Let’s discuss the eligibility criteria in detail so that you know who is eligible to apply for a loan under this program. As mentioned earlier, men, women, transgenders, and special individuals can apply under this program, but they must also meet some important conditions, which are as follows:
- All Small Entrepreneurs (SEs) in Punjab
- The applicant must be a permanent resident of Punjab.
- The applicant’s age must be between 21 and 57 years.
- The applicant must have a Pakistani identity card, on which a permanent address in Punjab is mentioned.
- A SIM card must be registered in the name of the applicant.
- The applicant must be an active tax filer.
These are the important criteria after which the applicant can submit an online application from the comfort of his/her home using his/her mobile or computer. If you meet these criteria, then it will be very easy for you to benefit from this program.
How to Register for the Asaan Karobar Card?
If you meet all the eligibility criteria and want to apply for a loan under the Asaan Karobar Card, then follow the step-by-step procedure given below. With the help of this guide, you can submit your application online from home:
First of all, go to the official portal of AKC of the Punjab Government. Click on the given link https://akc.punjab.gov.pk/ and open the portal.
Create an account:
- After the portal opens, click on the “Register Now” button.
- The registration form will open.
Provide the following information in the form:
- Name
- Father’s Name
- National Identity Card Number
- Date of Birth
- Date of Issue of National Identity Card
- Expiry Date of National Identity Card
- Mobile Number
- A strong password
- After entering all the information, click on “Create Account.”.
Log in to the account:
- After creating an account, you will be redirected to the login page.
- Log in using your ID card number and password.
Complete the application form:
- After logging in, the loan registration form will open, which will be divided into four sections:
- Personal Details
- Business Details
- Loan Details
- Uploading Documents
Submit the application:
- After filling in all the information and uploading the documents, click on the “Submit” button.
- After submitting the application, you will be provided with a challan for a non-refundable processing fee of Rs. 500.
Important Instructions:
- Pay the challan immediately so that your application can be processed.
- Provide all the information and documents correctly and completely so that there are no obstacles.
This step-by-step procedure will help you apply for a loan easily.
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Loan Usage and Repayment Details
The Punjab Government has provided specific terms and conditions for the repayment and utilization of the loan under the Easy Business Card. The first 50% limit will be available for use during the initial 6 months of issuance of the card, which can be used only for business-related purposes. Nonessential transactions, such as personal use or entertainment, will be strictly blocked. A grace period of 3 months has been provided after the issuance of the card, during which no installment payment will be required. After this period, the borrower will have to start paying monthly installments with a minimum of 5% of the outstanding loan, and this payment will consist of the principal amount only.
The second 50% limit will be released when the borrower uses the previously granted loan satisfactorily and pays all monthly installments regularly. In addition, it is also necessary to complete registration with PRA or FBR. The remaining amount after the first year will have to be paid in Equated Monthly Installments (EMIs) over a period of 2 years. All these conditions ensure that the loan is used for business purposes and that the applicant has ease in repaying the loan.
Conclusion
The Asaan Karobar Card Program, launched under the leadership of Punjab Chief Minister Maryam Nawaz Sharif, is a first-of-its-kind and unique initiative that provides interest-free loans to small businesses and startups. Under this program, individuals associated with small businesses and startups can apply for loans ranging from Rs 100,000 to Rs 1 million on easy terms to further expand their businesses. This program provides a great opportunity for small business owners to solve their financial problems. This article provides a detailed guide to the complete registration procedure for such individuals, following which you can easily submit your application from home. In addition, the article also includes all the necessary information regarding the use and repayment of the loan. Therefore, if you are also interested in getting a loan under this program, then read the article in full detail so that you can understand all the steps well. Moreover, if you have any questions in this regard, you can ask your question in the comment section.