How to apply for Kamyab Jawan Program loan: Simple steps to fill online form

How to apply for Kamyab Jawan Program loan: Simple steps to fill online form

Here is the step-by-step guide for you to fill the form.

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Eligibility Criteria

1. All men/women holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible. For IT/ E-Commerce related businesses, the lower age limit will be 18 years.

2. Small enterprises (startups and existing businesses) as per the definition of SBP and owned by youth as per the above-mentioned age brackets are also eligible.

3. For IT/E-Commerce related businesses, at least matriculation and/or experience of at least six months.

Loan Size

The size of the loan is segregated into two tiers, as under:

Tier 1 (T1) loans- Rs 100,000 to Rs. 0.5 million

Tier 2 (T2) loans- Above Rs 0.5 million and up to Rs 5 million

Loan Type

Working capital loans and term loans

Loan Tenor

Up to 8 years with a maximum grace period of up to one year.

Debt to Equity Ratio

T1 loans- 90:10

T2 loans- 80: 20

The borrower’s contribution of equity would be in the form of cash or immovable property and will be required after approval of the loan.

Focus on Women

25% of the loans will go to women borrowers.

Security Requirements

Security arrangements will be as under:

T1 loans: Clean, however, only personal guarantee of the borrower

T2 loans: As per the bank’s own credit policy

Risk Mitigation

The 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%

Allocation in Budget

Finance Division shall allocate funds in each fiscal year’s budget as per estimates provided by SBP. Payment will be made on the submission of consolidated claims of all the banks by the SBP.

Pricing

Pricing for Working Capital & Term Loans:

T1 loans: 6% p.a. fixed for the borrower. The government will pay the difference of the cost at KIBOR+500bps

T2 loans: 8% p.a. fixed for the borrower. The government will pay the difference of the cost at KIBOR+400bps

Executing Agency

In the first instance, the National Bank of Pakistan (NBP), Bank of Punjab, and Bank of Khyber will execute the program under the guidance and supervision of the State Bank of Pakistan. Subsequently, SBP will also advise other commercial banks for participation in the program.

Simple Steps To Fill Online Form

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