Product Name
Khushhali Sarmaya (Micro Enterprise Lending)
Product Purpose
Khushhali Sarmaya is offered to micro-entrepreneurs (small business owners). The loan can be used for purchase of raw materials/ finished goods/ stocks/inventory and to enhance production of goods & services. This loan facility can help small businesses get credit for operating assets to help them generate more income.
Loan Eligibility Criteria
- Age: 22 – 60 years
-
Applicant must be micro-entrepreneurs as defined in the Prudential Regulations for Microfinance Banks
- Minimum business experience of 2 years
- NADRA CNIC/ SNIC holder
- Must have good credit history
Tenure
- 6 – 36 months
Repayment Options
Equal Monthly Installments
Collateral
Secured
Hypothecation of business stock/ Plant / Machinery / any other moveable business assets
&
Mortgage (Registered or Equitable) of Land/ APB/ Building/
OR
Mixed secured collaterals (e.g. Gold/ TDC/ NSC)
Or
HPA with Original documents of vehicle retained at branch
Unsecured
Document reflecting the proof of Business possession (Copy of Rental Agreement/ Title Documents/ Fard/ etc.)
&
Guarantor for loans above 150,000
External valuation should be carried out where;
• Collateral (property/ plant/ machinery) value is above PKR 3.0 Million, irrespective of loan size.
Note: Above mentioned changes are not applicable on agri loans (development & production) i.e. loans against agri pass books/ PLRA.
Loan Ticket (minimum and maximum)
PKR 50,000 to PKR 1,000,000
Rates & Fee Structure
As per existing SOC
Service charges
- For Loans up to Rs. 300,000/- (34%)
- For Loans equal to or greater than 300,001/ up to Rs. 500,000/- (34%)
- For Loans equal to or greater than Rs. 500,001/up to Rs. 1,000,000/- (34% )