Cm Punjab Asaan Karobar Card
In an effort to assist the nation’s small business owners, Punjab Chief Minister Maryam Nawaz has introduced the Cm Punjab Asaan Karobar Card. Through a digital SME card, the card provides interest-free loans up to $1 million, enabling entrepreneurs to expand and maintain their companies. The card gives support with loan troubles and a representative to assist with company information.
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Online registration on the official website or through the Bank of Punjab are the two options. The digital platform of the card guarantees a methodical and transparent use of money. One of the advantages of the card is that it allows online applications via the official portal and gives business owners a way to get information and assistance when they need it.
What is the CM Punjab Asaan Karobar Card?
The CM Punjab Asaan Karobar Card is a new initiative aimed at supporting small entrepreneurs in Punjab by offering interest-free loans. The card aims to improve operations, manage expenses, and pay bills. Eligible entrepreneurs can access 1million in loans and repay the amount in installments over three years, fostering a robust business ecosystem through digital transactions.
Objective of the CM Punjab Asaan Karobar Card
CM Punjab Asaan Karobar Card Features:
• Maximum Loan Limit: 1 million for small business growth.
• Loan Type: Revolving credit facility for up to 12 months.
• Repayment Term: After the first year, the loan is repaid in 24 monthly installments.
• Grace Period: Entrepreneurs have a 3-month grace period to start repayments.
• Usage Funds: Funds can be used for vendors, suppliers, utility bills, taxes, and cash withdrawals up to 25% of the loan limit.
• Digital Transactions: Supports digital payments via POS systems and a mobile app.
Eligibility Criteria
Eligibility Criteria for Punjab Business Application
• Age: 21-57 years old.
• Nationality: Only Pakistani nationals in Punjab.
• Business Location: Must be within Punjab.
• Required Documents: Valid CNIC and registered mobile number.
• Credit History: Clean with no overdue loans.
• Psychometric Assessment: Eligibility evaluated.
• Only one application per individual or business is allowed.
CM Punjab Asaan Karobar Card Summary Table
| Feature | Details |
|---|---|
| Loan Limit | Up to 1 million PKR |
| Repayment Term | 3 years (12-month revolving credit + 24 monthly installments) |
| Grace Period | 3 months |
| Eligibility | Age: 21-57, Punjab residents, valid CNIC, clean credit history |
| Application Fee | 500 PKR (non-refundable) |
| Usage Restrictions | Business-related expenses only (vendors, suppliers, utility bills, etc.) |
| Digital Transactions | POS systems, mobile app support |
| Support Services | Feasibility studies, helpline (1786), and online application portal |
How Can I Apply for the Asaan Karobar Card for CM Punjab?
CM Punjab Asaan Karobar Card Application Process
• Visit the Official Portal: Fill in personal details, including name, parents, husband, date of birth, ID card number, expiration date, mobile number, network code, and password.
• Submit the Application: Fill in CNIC, business information, and contact details.
• Pay a non-refundable processing fee of 500.
• Verify: CNIC, creditworthiness, and business premises will be digitally verified by authorized agencies.
• Approve: Successful verification will process the application and issue the card.
Loan Usage and Repayment Details
Loan Approval Process
• First 50% Limit: 50% available within the first 6 months.
• Grace Period: 3-month grace period for repayments.
• Repayments start with a minimum of 5% of the outstanding balance each month.
• Second 50% Limit: Unlocked after satisfactory use, timely repayments, and PRA FBR registration.
• Funds for business-related expenses only.
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Charges and Fees
CM Punjab Asaan Karobar Card Fees
• Annual Card Fee: 25,000 plus Federal Excise Duty.
• Additional Charges: Life assurance, card issuance, delivery charges.
• Late Payment Fees: The bank’s policy applies for missed payments.
Key Conditions and Security
Loan Conditions:
• Digital personal guarantee signing required.
• Life assurance is included in the scheme.
• Physical verification of business premises conducted within 6 months of loan approval.
• Mandatory PRA/FBR registration within 6 months of card receipt.
• Funds restricted to core business activities; non-business-related transactions blocked.
Extra Assistance for Candidates
Program Support for New Businesses
• Provides feasibility studies on PSIC and BOP websites.
• Offers a helpline at 1786 for inquiries and issues.
• Visits the official website for more details.
The CM Punjab Asaan Karobar Card’s advantages
Punjab Small Business Program Benefits
• Interest-free loans for business growth and expansion.
• Flexible repayment terms for easy financial management.
• Digital platforms for easy fund tracking and repayments.
• Support for vendors, suppliers, and utility payments.
• Promotes transparency in fund usage for business purposes.
In Conclusion
The CM Punjab Asaan Karobar Card provides interest-free loans to small entrepreneurs in Punjab, enabling them to improve their businesses. The card offers financial support for both new businesses and those looking to scale. The easy online application process and user-friendly digital platform make it an excellent choice for entrepreneurs looking to expand and sustain their businesses. Eligibility criteria must be met for application.
