State Bank of Pakistan SME Loan – State Bank of Pakistan Loan Scheme
Incentive Schemes for SMEs & Other Sectors
SME Asaan Finance (SAAF) Scheme
Introduction
State Bank of Pakistan SME Loan Access to finance can play an important role in development of Small and Medium Enterprises (SMEs)
sector. In order to overcome inherent structural deficiencies in SMEs lending like asymmetry of
information, high loan losses, lack of collateral, high delivery costs, etc. State Bank of Pakistan (SBP) is
offering a SME Asaan Finance (SAAF) scheme to fulfill the financing requirements of SMEs. The details of the scheme are as under:
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State Bank of Pakistan SME Loan (new businesses as well as operative businesses) that are new borrowers of the participating banks are eligible.
Maximum financing, under the scheme, to a single SME will be capped at PKR 10 million.
All types of loans i.e. term loans as well as working capital/running finance loans will be eligible.
Loans may be secured against personal guarantees of the borrowers.
Maximum tenor of the loan will be as per financing facility approved by the participating bank.
Mark-up rate for end user under the scheme will be of up to 9 percent (p.a.).
Under the scheme, State Bank of Pakistan SME Loan Government of Pakistan will provide risk coverage of 40 percent to 60 percent on first loss portfolio basis on following portfolio categories: Main Web
Eligibility Criteria
All men/women holding CNIC
Size of the loan is segregated into three tiers, as under:
Tier 1 (T1) – Housing Units/apartments of up to 125 square yards (upto 5 Marla) with covered area of up to 850 square feet. (NAPHDA)
Tier 2 (T2) – Housing Units/apartments of up to 125 square yards (5 Marla) with covered area of up to 850 square feet.
Tier 3 (T3) – Housing Units of more than 125 square yards up to 250 square yards (10 Marla) or apartments with covered area from more than 850 square feet to 1,100 square feet.
Maximum Price of Housing Units
Maximum Price (Market Value) of a single housing unit at the time of approval of financing, as under:
Tier 1 (T1) – Rs 3.5 million
Tier 2 (T2) – Rs 3.5 million
Tier 3 (T3) – Rs. 6.0 million
Maximum Loan size
Maximum size of the loan of a single housing unit, as under:
Tier 1 (T1) – Rs 2.7 million
Tier 2 (T2) – Rs 3.0 million
Tier 3 (T3) – Rs. 5.0 million
Loan type Long term housing finance loans
Loan Tenor 10/15/20 years, depending upon choice of customers.
Security Requirements As per banks’ credit policy and prudential regulations for housing finance, the housing unit financed will be mortgaged in favor of financing bank.
Allocation in Budget
Finance Division shall give authority to SBP to debit GOP account on quarterly basis for the subsidy payment to banks.
Payment will be made to the banks on submission of quarterly-consolidated subsidy statement as per format prescribed by State Bank of Pakistan.
Application Form
A standardized Application Form both in English and Urdu will require minimum essential information with simple format.
The processing time will not exceed 30 days after submission of all documents by the borrower and the same will be clearly stated in the application form.
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Housing Finance
Financing Facility for Low Cost Housing for Special Segments
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The scheme will be available to SME borrowers towards.
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Other Terms and Conditions
State Bank of Pakistan SME Loan
i. Participating banks shall ensure that financing under the scheme is extended only to meet
the business needs of the borrowers.
ii. In case of purchase of plant and machinery under term financing, disbursement by
participating bank will not be made to the SME borrowers directly. In such cases,
payments will be made to the suppliers of the plant and machinery to the State Bank of Pakistan SME Loan
borrowers.
iii. Financing under the scheme may be checked by State Bank of Pakistan SME Loan during onsite inspection of the bank
to ensure that the same has been allowed as per the terms and conditions of the scheme.
iv. In case of violation of the terms & conditions of the scheme, State Bank of Pakistan SME Loan shall reserve the right to
recover the amount of refinance granted to the bank along-with fine at the rate of Paisa
60 per day per PKR 1,000/- or part thereof for the period of refinance.
v. The banks shall ensure to immediately pay back any amount disbursed by SBP under
guarantee / risk coverage, if State Bank of Pakistan SME Loan subsequently concludes that such claim made under
guarantee / risk coverage was wrongfully claimed. The bank will also pay fine on such
amount as may be announced by the State Bank of Pakistan SME Loan from time to time, for the period for which such
amount is availed by the banks.
vi. If any question arises with regard to interpretation of any instructions of the scheme, the
decision of State Bank of Pakistan SME Loan shall be final.
Shariah compliant version of this scheme is also available
For Frequently Asked Questions (FAQs),
Click Here.
Detailed features of the scheme
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State Bank of Pakistan SME Loan – State Bank of Pakistan Loan Scheme
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