Punjab Rozgar Scheme For Loan 2021 Application Form Download

We are pleased to apprise the people particularly the youth that Punjab Rozgaar Loan Scheme 2021 Application Form Download with complete information being dispatched over here. Eligibility Criteria for taking loan of amounting more than 1 million is being publicized in given link on this page as well.

Punjab Rozgar Scheme For Loan 2021 Pre-Requisites:-

  • Age: 20 to 50 years
  • Gender: Male / Female / Transgender
  • Resident: Citizen of Pakistan, Resident in Punjab, verified through CNIC
  • Business Location: Punjab
  • Business Type: Sole Proprietor, Partnership, or any business fulfilling other eligibility criteria
  • Must have a clean e-CIB / Credit History
  • For startups / new businesses
    • Having a viable business plan
  • For existing businesses
    • Having a viable business plan with a focus to sustain the impact of COVID-19
  • Having Valid CNIC
  • Any other parameter to be set by Punjab Small Industries Corporation (PSIC) / Government

Punjab Rozgar Scheme For Loan 2021 Application Form Download

Salient Features of Punjab Rozgar Scheme For Loan 2021:-

FEATURE DESCRIPTION
Loan limit
  • Upto Rs. 10.00 Million
    • Clean lending:  from Rs. 100,000/- to Rs. 1,000,000/-
    • Secured lending: from Rs. 1,000,001/- to Rs. 10,000,000/-

Under Punjab Green Development Program, the limit of a loan will remain the same. However, preference will be given to the micro-enterprises, ready to adopt the environment improving technology, having up to 10 numbers of employees.

Purpose of loan
  • Setting up of new business
  • Balancing, Modernization and Replacement (BM&R) for existing businesses
  • Working Capital
MSME Sector
  • Manufacturing, Service, Trading, Agriculture and Live Stock
  • (Environment Friendly / Quality Improving Micro Enterprises as defined above will also be considered under the Punjab Green Development Program)
Processing fee Rs. 2000/- (non-refundable) at the time of submission of application
Tenure of loan / Repayment Period From 02 to 05 years including a grace period
Grace period Up to Six (06) Months (However, the markup will be charged during the grace period)
Type of loan Term loan as per bank policy and working capital
Cost of Capital
Cost of Capital to be paid by Borrower:

  • 4% for clean lending
  • 5% for secured lending
Debt: Equity 80:20 (For males)

90:10 (Women, Transgender and Differently abled)

(Meaning thereby 20%  / 10% of the project cost will be invested by the borrower)

Disbursement of loans In installment(s) as per approved business plan
Security of loan 1.      Security for Clean Lending

i.      Security for loan limit from Rs. 100,000/- to Rs. 500,000/-

Personal Guarantee of the borrower along with net worth statement.

ii.      Security for loan limit from Rs. 500,001/- to Rs. 1,000,000/-

·     Personal Guarantee of the borrower along with at least one, Third Party guarantor with overall net worth collectively equal to size of the loan applied.

(Third Party should be a citizen of Pakistan and resident of the Punjab having a valid CNIC and must not be older than 55 years. Moreover, e-CIB of third party should be clean i.e. it should not have any overdue or write off history)

OR

·     Guarantee of Government employee of BS-10 and above alongwith personal guarantee of the borrower.

(Departmental gurantee of the government employee will be mandatory)

Net Worth / Wealth Description and Calculation Criteria:

·     Net Worth may be in the form of Tangible Asset i.e Property or Vehicle ownership and may be assessed as follows:

a.    Property may be valued at respective DC rate.

OR

b.   Property valuation may be established from Wealth Tax statement.

OR

c.    Evaluation by Pakistan Banks Association (PBA) approved evaluator/agent

OR

d.   Vehicle valuation shall be invoice price less depreciation (10% for each passing year).

2.      Security for loan limit from Rs. 1,000,001/- to 10,000,000/-

Mortgage of Assets

Asset description

a.    Residential / Commercial / Industrial / Agricultural Property / vehicle having clean title and clear access (acceptable to the bank) and valued by banks approved appraiser as per bank’s policy.

b.   The property should be in the name of borrower or blood relative of individual / proprietor / partners.

c.    Documentation shall be as per bank credit policy / legal division. Charge / hypothecation on fixed / current assets as per internal / external regulations.

Schedule of Charges Against Punjab Rozgar Scheme For Loan 2021:-

Application Processing Fee Rs.2000/- (non-refundable) at the time of submission of application
Valuation / legal / documentation charges inclusive of revenue stamps, Government duties / fee etc. At Actual Rate
Insurance ( if applicable) At Actual Rate
Partial / Balloon / Early Settlement Charges NIL
Late Installment Payment Charges

 

Rs. 1 per 1000 per day on principal amount to be calculated from monthly installment from due date till date of actual payment

Eligibility Criteria for Punjab Rozgar Scheme 2021:-

You must have scanned copies / clear visible pictures of following documents ready before you start your application:

  • Picture with complete face
  • Front-side of CNIC
  • Back-side of CNIC
  • Latest Educational degree / Certificate, if and whatever applicable (Matric, Intermediate, Bachelors, Masters, PHD) etc (if applicable)
  • Experience certificate(s) (if applicable)
  • License / Registration with Chamber or Trade Body (if applicable)
  • Scanned Copy of Security Documents to be offered for availing Loan

You must have the following information handy before you start your application:

  1. National Tax Number(non-mandatory), in case you don’t have one please register at https://iris.fbr.gov.pk/
  2. Consumer ID of Electricity bill installed at your current address
  3. Consumer ID of Electricity bill installed at your current office address (if applicable)
  4. Registration number of any vehicle registered in your name (if applicable)
  5. In case of new business an estimate of Monthly business income, business expenses, household expenses and other income
  6. In case of existing business actual Monthly business income, business expenses, household expenses and other income
  7. Name, CNIC and Mobile numbers of Two References other than Blood relative

Please note:

  • This application shall take at least 15 minutes to complete subject to availability of above listed information/documents.
  • You may complete the form in one go or in trenches by saving uploaded sections and submit at any time.
  • After submission of the application, no change/amendment shall be allowed
  • Please upload as much information as you have e.g. Financial Statements, Business Feasibility (Download Sample Format), Last 6 months Bank statement, etc. This shall help to better evaluate your application
  • Once the form is submitted, your Application Registration Number (ARN) shall appear on the screen and you will also receive SMS stating the same, please keep it saved
  • Please visit the nearest branch of The Bank of Punjab (BOP) along with Application Registration Number (ARN) in order to deposit Processing fee of Rs. 2,000/- after which processing of your application will start.

Punjab Rozgar Scheme For Loan 2021 Application Form Download

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