Askari Bank has structured a new financing product by the name of “Askari Nai Umang (ANU)” under the ambit of SME. The Product Program has been specially developed in order to encourage SME Financing to Persons with Disabilities (PWDs) across the country and will be available to meet the credit needs to set up a new business or expand an existing one.
| Feature | Criteria | ||||
| Purpose | Establishing New Business or Expanding Existing Business | ||||
| Amount of loan | Maximum Rs. 5 million Rupees, | ||||
| Markup Rate | Competitive mark up rate | ||||
| Business Age (In case of existing business) | Operating for a minimum of one year with an ability to expand the business. | ||||
| Equity |
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| Applicant's legal structure |
Sole Proprietor, Partnership firm, Private Limited Company, Single Member Company (SMC). Preferably main applicant /borrower or At least one Partner or Director should be a PWD (having majority % age of shares) |
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| Age of applicant |
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| Tenure | Up to 05 years | ||||
| Grace period | Up to 06 months | ||||
| Repayment | Repayment of loans by borrowers shall be made in equal monthly or quarterly installments after grace period (if any). | ||||
| Account Maintenance |
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| Debt Burden | For clean financing, debt burden not to exceed 40% , however for secured financing, financials to be obtained and considered as per SBP PRs. | ||||
| Life Insurance | Life Insurance of borrowers under Corporate arrangement is mandatory (for unsecured loans only). |
Financing under Askari Nai Umang will be available to special persons holding CNIC with disability logo/symbol.
Note: All documents to be provided as per AKBL’s SME credit policy as well as legal opinion from Legal Firm enlisted on AKBL’s panel.
To view the instruction guide for Applying SME Financing, please click here
To view Frequently Asked Questions related to Askari Nai Umang, please Click Here
