Prime Minister Youth Business Loan 2023
Pakistan’s Prime Minister Shahbaz Sharif has thought of giving interest-free loans to youth, He says that the country can develop because of youth, That is why it is necessary to develop the youth. So he has announced an excellent loan scheme for Young generation. In this article, the information is given, you can read all the information and get the information, if you meet it, you will be given a loan.
Prime Minister decided to distribute 30-Billion Rupees among 40,000 deserving people in Pakistan up to 30th June 2023.
All the commercials, Islamic and SME banks will provide PM Business loan to the individual who will be eligible. There is no last date mentioned, so you can apply whenever you need to get this loan scheme. All the banks of Pakistan have same criteria as mentioned in PM Loan scheme.
Prime Minister Youth Business Loan 2023 Tiers Details
|Tier-1||The range is 100,000 upto 1 million PKR with 3% markup. No Security required for loan in this tier.|
|Tier-2||The range is above 1 Million upto 10 Million PKR with 4% markup.|
|Tier-3||The range is above 10 Million upto 25 Million PKR with 5% markup.|
PM Business Loan Scheme 2023 Eligibility Criteria
All candidates holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible. For IT/ E-Commerce related businesses.
For IT/E-Commerce related businesses, at least enroll or equivalent education will be required.
You can always re-apply if you want to avail the increase in maximum loan size announced recently.
The minimum age for the applicant under this scheme is 21 years at the time of application submission. However, it is relaxable to 18 years in case of applicants applying for IT or Computer related businesses. The maximum age limit is 45 years at the time of application submission.
All the information available on Kamyab Jawan Yes Program is almost same with this loan scheme.
Small and medium enterprises (startups and existing businesses) as per definition of SBP and owned by youth as per above mentioned age brackets are also eligible.
This scheme is for both startups as well as existing micro and small business enterprises.
How to Apply
Persons employed in private jobs can also apply
Existing micro and small enterprises can also benefit from this scheme.
One family member cannot apply in another’s name.
This scheme is only for resident Pakistanis
Blood relatives of employees of participating banks cannot apply for loans under this scheme from the banks where their blood relatives are employed
A person cannot avail more than one loan
All businesses which are ethical and permitted under the law are eligible for this scheme.
Applicants are advised to select businesses which are ethical, legal, commercially viable, and suitable for applicants’ respective areas and for which applicants possess required minimum knowledge, experience, training and support
Government employees are strictly barred from applying under this scheme.