The scheme has the following benefits:
| i. | Subsidized markup rates | ||||||||||||||||
| ii. |
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| iii | Facility up to 08 years | ||||||||||||||||
| iv | Repayment by Monthly installment with a grace period option | ||||||||||||||||
| V | Loan amount up to Rs. 7.5 Million | ||||||||||||||||
| VI | Quick processing of 45 Days | ||||||||||||||||
| VII | Facility available from all the branches of ABL | ||||||||||||||||
| VIII | Loan processing fee of Rs 100/-only |
- Term Loan
- Working Capital Loan
- Leasing/financing of machinery and locally manufactured vehicles for commercial use. Only one vehicle per borrower is allowed. A borrower in food franchise and distribution business may avail financing for more than one vehicle.
- For agriculture, production and development loans are eligible.
1. Age
- Age Minimum: 21 Years,
- Maximum: 45 Years with entrepreneurial potential are eligible.
- For IT/ E-Commerce related businesses, the lower age limit will be 18 Years
2. Business type:
- Small and Medium Enterprises (startups and existing businesses) owned by youth as per above mentioned age brackets.
- In case of agriculture, farmers’ classification as per SBP’s “Indicative Credit Limits & Eligible Items for Agriculture Financing 2020” will be applicable.
Tier |
Loan Amount |
Security |
| T1 | Upto Rs 0.5 million | Clean (secured only by personal guarantee of the borrower). |
| T2 | Above Rs 0.5 million and upto Rs 1.5 million | Clean (secured only by personal guarantee of the borrower). |
| T3 | Above Rs 1.5 million and upto Rs 7.5 million | Secured Loan |
Equity
For New Business
T1 & T2 loans – 90:10
T3 loans – 80: 20
For Existing Businesses:
Nil for all tiers
- Loan Application Form (English and Urdu)
- Two recent Passport size Photographs.
- Valid CNIC/SNIC of obligor Along with CNIC/SNIC NADRA Verisys. Or biometric verification as per AML/KYC/CFT guidelines of SBP by the branch
- Feasibility Report
- Financials of the business as per Bank’s Credit Policy.
- Clean E-CIB of the applicant / obligor with no current overdues / write-off history to be obtained.
- Undertakings from the obligor in compliance of relevant SBP PRs.
- In case of collateral (immovable property / liquid securities) valuation & other formalities will be administered in accordance to CP & CPM.
- Undertaking from the obligor to avail facility from one bank only and not to become a guarantor for loans to other persons under the scheme.
- Close relatives of ABL employees are not eligible to apply for financing under this scheme to ABL. An undertaking from Obligor confirming the same is required.
- Two References CNICs.
Other Documents (if required)
- Educational / Technical diploma Certificates / Experience Certificates
- Valid Driving License
- Valid license for business operations.
- NTN and Latest Tax returns.
- Proof of any other source of income
- Legal Status documents (in case of partnership and companies etc.)
- Letter from Chamber / Trade Body / Union / Association
- Bank Statement
- Copy of Utility bills
Any other document required by the approving hierarchy