Key Features

Loan Type: Term loans/working capital loans including leasing/financing of machinery (up to 05 years old) and locally manufactured vehicles (up to 07 years old) for commercial/business use.

Only one vehicle per borrower is allowed. A borrower in a food franchise and distribution business may avail of financing for more than one vehicle.

Up to 65% of the total financing limit can be availed for Civil Works. For agriculture, production and development loans are eligible.

Loan Tenor: Maximum 8 years for long-term/development loans and maximum 5 years for working capital loans

Number of Loans per Borrower: A customer may avail a maximum of two loans (including one long and one short-term loan) within the overall maximum financing limit of Rs. 7.5 M. In the case of agriculture, a customer may avail of one production loan and one development loan within an overall maximum financing limit of Rs. 7.5M.

Focus on Women: 25% of the loans will go to women borrowers

Sectors and Products: All sectors and products. Moreover, in the case of agriculture, all crop and non-crop sectors are also eligible.

Insurance: Life insurance, vehicle insurance and building insurance is mandatory

Eligibility Criteria

• All citizens of Pakistan holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible. (For Tier-4 financing Citizen of Pakistan aged between 18 and 30 years are eligible to apply), however for IT/E-Commerce related businesses, the lower age limit will be 18 years. Above age limit condition is applicable on individuals and sole proprietors. In case of all other forms of business including partnerships and companies, only one of the owners, partners or directors must be in the age bracket prescribed above.
• Qualification: At least Matriculation or equivalent education will be required in case of IT/E-Commerce related business
• Applicant Legal Structure: Individual, Sole Proprietor, Partnership Firm and Limited Company.

Documents Required

Tier 2 AND 4

• CNIC (already verified by NADRA as per agreement)
• Photograph
• Feasibility report of business (in case of new business)
• Annual financial statements (in case of existing business)
• Educational certificates (only for IT background)
• Experience letters (if employed)
• Copy of electricity bill
• Two references with copies of CNICs
• NTN certificate – mandatory before disbursement
• Entity existence documents in case of partnership / limited company and relevant approvals

In addition to the above mandatory documents, the following documents might be required as well:

• Proof of artisanship / skilled labour, if available
• A brief business write-up
• Any other source of income e.g. foreign remittance, salary income, agriculture income etc.
• Bank account statement or bank maintenance certificate

Tier 3

• Copy of valid CNIC
• Feasibility report of business (in case of new business)
• Financial statements as per SBP requirement.
• NTN certificate – mandatory before disbursement
• Entity existence documents in case of partnership / limited company and relevant approvals
• Bank account statement or bank maintenance certificate
• Copies of ownership documents of offered collateral (immovable/moveable asset(s), liquid or any other security offered as per the bank’s existing credit policy).

Any other document(s) required as per the policy of AKBL

How to Apply

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