PM Pakistan has announced latest Youth Business Loan Scheme 2014-2015 for the people of Pakistan. A Pakistani who have a talent and much experience in technical work but they have not enough money to establish a new small business at home or any small market. So, Pakistan Prime Minister Mian Muhammad Nawaz Sharif as per last assignment declared PM Pakistan Youth Business Loan Scheme 2014-2015. Applications are invited for PM Youth Business loan scheme 2014-215.
Mian Muhammad Nawaz Sharif said that all loans will be provided on merit basis. Application Form Download 2014-2015 PM Youth Loan Scheme Application Form Download Here, Those who people are searching how to download Prime Minister Youth Loan Scheme Application form for free, we are provide application form here.
Brief Description Small business Loans will focus on (but will not be restricted to unemployed youth, especially educated youth looking for establishing or extending business enterprises.
Age between 21 and 45 years with go-getting potential to apply from designated branches mapped with area of residence/business.
Security Requirements One Guarantor
Permissible Collaterals Business hypothecation
Focus on women 50% of loans will go to women borrowers.
Debt-Equity ratio 90:10
The borrowers’ contribution of equity would be in the form of cash or immovable property and will be required after approval of the loan.
Loan Period The maximum tenor of the loan is 8 years, including one year’s grace period Pricing 8% fixed for borrower. Government will pay the difference of the cost of KIBOR + 500 bps.
A selected candidate can get Rs 2.000.000 (Twenty Lacs)
Allocation in budget 2013-14 Rs. 5 Billion
Executing agency In the first instance, National Bank of Pakistan (NBP) and First Women Bank Limited (PA’BL) under the guidance and supervision of State Bank of Pakistan( SBP) to ensure participation of private banks:
- a) Private banks will be required to participate in this scheme on the basis of soundness of business proposals; and
- b) SBP will encourage private banks to build this portfolio commensurate with their size.
- c) SBP will arrange appropriate training for private banks to implement this scheme.
- d) NBP will continue to play the lead role
Sectors and Products All sectors. Standardized schemes/projects/undertakings will be designed by SMEDA. projects designed by private sector service providers or individuals themselves will also be admissible.
Role of SMEDA:
- a) The 50 feasibilities prepared and uploaded by SMEDA will b extensively publicized and their access to public made easier through multiple linkages with other relevant websites.
- b) SMEDA will work closely with Punjab Information Technology Board (PITB) to ensure that the schemes are accessible to those who participate in PITB survey.
Application Form The Form would be both in English and Urdu, and required minimum essential information with simple format.
The processing time will not exceed 15 days and will be so stated clearly in the application form; and The form would be readily available both in branches and through dedicated websites of the banks.
Non – refundable form processing fee will be Rs. 100 (One Hundred)
Monitoring SBP will publish consolidated information about the easy installment options for loans extended under the scheme for information of the public on quarterly bases on its website;
An effective Complaints Center to process and resolve complaints will be setup;
E-government directorate of Ministry of IT will provide support
Geographical Distribution Whole of Pakistan. In case of Baluchistan, at least one branch of NBP will be designated per Division.
All non-designated branches will also provide and receive filled application forms and dispatch them to the nearest branches.