Do you want to know about Prime Minister’s Youth Loan Scheme? Here is complete detail about Kamyab Jawan Program Youth Loan Scheme YES. Moreover, you’ll know how to apply, loan tenure, age limit, interest rate & loan lending banks details. So, every bit of information about Kamyab Jawan Program available on this. Therefore, now you don’t need to search for information individually anywhere else.
Most of the people don’t know the exact way to submit application procedure & how to develop SMEDA report for it. We’ll show you the easy & best procedure to do all the required steps with ease.
Kamyab Jawan Program Youth Loan Scheme YES
As all we know the Prime Minister’s vision of creating a large number of opportunities for youth. So, Kamyab Jawan is the chain of this PM’s Youth Entrepreneurship Program with the slogan “Hunar se Karobar Tak“.
Program has developed in collaboration with 3 main departments, namely Pakistan Poverty Alleviation Fund (PPAF), State Bank of Pakistan (SBP) & Medium Enterprise Authority (SMEDA). SBP plays role along with 3 major banks i.e National Bank of Pakistan (NBP), Bank of Punjab (BOP) & Bank of Khyber (BOK). While, SMEDA is responsible to educate applicants on how to develop feasible report & how to maintain business.
These all 3 main department will collaborate together to provide subsidized loan to the youth, along with giving them the basic aptitude to run a successful business.
How to Apply Online?
💡 1. You’ve to submit online application form for Kamyab Jawan Loan Program. To go to online application form click on the following link
You’ll see a form (as shown in following photo), you’ve to completely fill it with valid information.
💡 2. After completely filling the online application form, click on “PROCEED TO STEP 2” button. On the next page you’ll have to accept online affidavit with terms & conditions (as shown in following photo).
💡 3. Thoroughly read all the terms & conditions of affidavit, if agree then tick mark on the left side of the screen (as shown in above photo, marked with number 1). Furthermore, you’ve to click on “Submit” button (as shown in above photo, marked with number 2).
What is the Eligibility Criteria?
- All men/women/transgenders holding CNIC, age between 21 & 45 years with entrepreneurial potential are eligible. Furthermore, for IT/E-Commerce related businesses, the lower age limit is 18 years.
- Small enterprises (startups & existing businesses) as per definition of SBP & owned by youth as per above mentioned age brackets are also eligible.
- For IT/E-Commerce related businesses, at least matriculation &/or experience of at least six months.
Important Terms & Conditions
- What is Loan Limit? Government of Pakistan shall provide mark-up & credit loss subsidy on small business loans in the range of 100,000 to Rs. 5,000,000
- Loan Type & size : Loan is of two types i.e Working Capital Loans & Term Loans, while, size of the loan divides into two tiers, as under;
- Tier 1 (T1) Loans: Rs 100,000 to Rs.500,000
- Tier 2 (T2) Loans: Rs 500,000 to Rs.5,000000
- Loan Tenor: Upto 8 years with maximum grace period of upto one year.
- Debt to Equity Ratio: After approval of loan, borrower’s contribution of equity would be in the form of cash or immovable property. Debt to Equity Ratio is as under;
- T1 loans- 90:10
- T2 loans- 80: 20
- Security Requirements: Security arrangements will be as under:
- T1 Loans: Clean, however, only personal guarantee of the borrower
- T2 Loans: As per bank’s own credit policy
- Risk Mitigation: Government will bear credit losses (Principal portion only) on the disbursed portfolio of the banks as under:
- T1 Loans: Upto 50%
- T2 Loans: Upto 10%
- Pricing: Pricing for Working Capital & Term Loans;
- T1 Loans: 6% p.a. fixed for borrower
- T2 Loans: 8% p.a. fixed for borrower
Focus on Women Borrowers: 25% for Women Borrowers
25% of the loans will go to women borrowers. Therefore, women must apply, as, there are more chances for women to get loan.
Frequently Asked Questions – FAQs
That’s all about “Kamyab Jawan Program Youth Loan Scheme YES”. In case of any query, feel free to comment or contact us.