Product Name
Khushhali Sarmaya (Micro Enterprise Lending)
Product Purpose
Khushhali Sarmaya is offered to micro-entrepreneurs (small business owners) and livestock 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 who are either self-employed or employ few individuals maximum 10 (excluding seasonal labors)
- Minimum business experience of 2 years
- NADRA CNIC/ SNIC holder
- Must have good credit history
Tenure
- 3 – 36 months
Repayment Options
Equal Monthly Installments / Quarterly / Semi-annually / Annually
Collateral
- Warranty of 1 individual or 1 legal entity
- Means of transportation
- Equipment
- Turnover goods
- Personal property
- Other movable property
- Deposit funds with the Bank
Loan Ticket (minimum and maximum)
PKR 50,001 to PKR 1,000,000 ( loans above PKR 500,000 are allowed only for vehicle purchase)
Rates & Fee Structure
As per existing SOC
Service charges
- For Loans up to Rs. 300,000/- (33%)
- For Loans equal to or greater than 300,001/ up to Rs. 500,000/- (32%)
- For Loans equal to or greater than Rs. 500,001/up to Rs. 1,000,000/- (30% )