LAHORE – Punjab government rolled out free loans of up to Rs1 million to small business owners in Punjab under Asaan Karobar Card. The scheme, facilitated through digital SME card, aims to support entrepreneurs in growing and sustaining their businesses.
Asaan Karobar Loan comes with 3-year tenure and one year revolving credit facility. Repayments start after a 3-month grace period, with monthly installments due for the remaining balance. Funds can be used for vendor payments, utility bills, and digital transactions.
Who Can Apply?
| Criteria | Requirement |
|---|---|
| Age | 21-57 years |
| Residency | Punjab residents only |
| Business | Must own a small business in Punjab |
| CNIC & Mobile | Must be registered under your name |
| Credit History | No outstanding loans |
Loan Scheme
| Loan Detail | Description |
|---|---|
| First 50% of Loan | Available for use within the first 6 months. |
| Grace Period | 3-month grace period after card issuance before repayments start. |
| Monthly Repayment | Begins after grace period with a minimum of 5% of the principal balance due each month. |
| Second 50% of Loan | Released after responsible usage, regular repayments, and registration with PRA/FBR. |
| Usage Restrictions | Funds can only be used for business purposes; non-business transactions are blocked. |
| Remaining Loan Balance | Paid off in equal monthly installments over the next 2 years after the first year. |
Asaan Karobar Card Application Process
Step 1: Go to PITB Portal
Access the official PITB Portal and fill out the application form.
Step 2: Pay Non-Refundable Fee
Make a payment of Rs500, which is non-refundable.
Step 3: Select the Qualification
Choose the qualification option and proceed
Step 4: Submit the Guarantee Form
Take completed Guarantee Form to the Bank of Punjab (BOP) and submit it.
Step 5: Process waiting and Card Collection
After submitting the form, wait for a notification from TCS, which should arrive within 3-4 days.n Within 7 working days, visit the TCS office to collect your card.
