akf.punjab.gov.pk
akf.punjab.gov.pk: The Asaan Karobar Finance Scheme is a government initiative aimed at providing financial support to small and medium-sized businesses in Pakistan. The scheme offers loans under different tiers, with each tier designed to cater to specific business needs and requirements. While the registration for Tier 1 has already closed, applicants who missed this opportunity can still apply for Tier 2 and Tier 3 through the official website, akf.punjab.gov.pk.
This article will provide you with a step-by-step guide on how to apply for Tier 2 and Tier 3, the eligibility criteria, documents required, fees, and other crucial details.
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What is the Asaan Karobar Finance Scheme?
The Asaan Karobar Finance Scheme is a financial initiative launched by the Punjab Government to provide low-cost loans to entrepreneurs, business owners, and individuals who wish to start or expand their small or medium-sized enterprises. This scheme is designed to foster economic growth, support job creation, and improve the ease of doing business in the region.
Under the scheme, businesses can apply for financial assistance in different tiers, each with varying amounts of loan disbursement, interest rates, and eligibility criteria. The main objective of the scheme is to make financial resources more accessible to people who face challenges in obtaining loans from conventional banks due to stringent requirements.
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Overview of AKF Tier System
The Asaan Karobar Finance Scheme is divided into three tiers, each catering to different types of businesses and loan amounts. Below is an overview of each tier:
- Tier 1: This tier is designed for small businesses that require a smaller loan amount. It includes minimal requirements and documentation, allowing entrepreneurs to access funds quickly. However, the registration for Tier 1 has now been closed.
- Tier 2: This tier offers a slightly larger loan amount for businesses with more extensive operations. The eligibility criteria and documentation requirements are more stringent compared to Tier 1, and it also requires the submission of additional security for loan approval.
- Tier 3: Tier 3 is designed for larger businesses or those with more complex financial needs. This tier offers substantial financial assistance but comes with higher documentation requirements and stricter eligibility checks.
If you were unable to register for Tier 1, you can still apply for Tier 2 or Tier 3, depending on the size of your business and your financial needs.
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Eligibility Criteria For Registration In Tier 2 And Tier 3
To successfully apply for the Asaan Karobar Finance Scheme (AKF), it is essential that applicants meet the specific eligibility criteria set for Tier 2 and Tier 3 registrations. These criteria ensure that the loans are provided to businesses with a genuine need for financial support and a capacity to repay the loan. The key eligibility requirements are as follows:
- Active Tax Filer Status: Applicants must be registered as active tax filers with the Federal Board of Revenue. Your tax status must be up-to-date and verified to proceed with the application.
- Business Ownership: The business should be either owned or operated by the applicant. Applicants must provide proof of ownership or management of the business.
- Security for Loan: For Tier 2 and Tier 3, applicants are required to submit collateral or security for the loan. This could be property documents, government securities, or other assets.
- Financial Record: Applicants must provide a clear financial history, including details about the business’s income and expenses. A business plan or financial projections may be needed for new businesses.
- No Outstanding Liabilities: Applicants should not have any pending loans or financial obligations that could affect their ability to repay the loan.
- Business Size and Type: The business must fall under the category specified for the respective tier. Tier 2 and Tier 3 are designed for businesses with more significant financial requirements and operations.
Meeting these eligibility criteria ensures that applicants are prepared and eligible to receive the support provided under the Asaan Karobar Finance Scheme.
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Necessary Documents For Successfully Registration
Here are the required documents for the Asaan Finance Scheme 2025 registration process, based on the registration form and typical requirements:
Required Documents for Registration:
- Original ID card of the applicant
- CNIC of Father or Husband based on relationship
- Applicant’s passport-size photograph
- Active mobile number registered in applicant’s name
- Valid email address and NTN number
- Proof of property ownership
- Disability certificate
- Husband’s death certificate (for widows)
- Affidavit confirming no ownership of other property
- Electricity or gas bill (for address verification)
- Utility bill of permanent address
- Marriage certificate or NADRA family registration form
Note: These documents must be uploaded in clear and legible formats during the application process.
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Eligibility Criteria For Application
For applying to Tier 2 or Tier 3, the following eligibility criteria must be met:
- Active Tax Filer: You must be an active taxpayer in Pakistan. You can check your tax filer status through the Federal Board of Revenue (FBR) website.
- Security for Loan: If applying for Tier 2 or Tier 3, you will need to submit collateral or security documents, such as property documents or government securities, depending on the loan amount.
- Business Financials: Your business should have a clear record of income and expenses. If you are a new business, providing a solid business plan or financial projections may be required.
- No Pending Liabilities: You must not have any outstanding loans or financial obligations that could impact your ability to repay the loan.
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Fill Out the Application Form
Once you have all the required documents and have ensured that you meet the eligibility criteria, you can proceed to fill out the application form.
| فیلڈ | فیلڈ |
|---|---|
| Enter your name as per CNIC شناختی کارڈ کے مطابق اپنا نام درج کریں۔ | Enter your father/husband Name اپنے والد/شوہر کا نام درج کریں۔ |
| Enter your CNIC Number اپنا شناختی کارڈ نمبر درج کریں۔ | Enter your email address اپنا ای میل ایڈریس درج کریں۔ |
| Enter your CNIC issuance date اپنا شناختی کارڈ جاری کرنے کی تاریخ درج کریں۔ | Enter your age اپنی عمر درج کریں۔ |
| Enter your CNIC expiry date اپنے شناختی کارڈ کی میعاد ختم ہونے کی تاریخ درج کریں۔ | Enter your date of Birth اپنی تاریخ پیدائش درج کریں۔ |
| Enter mother’s maiden name ماں کا پہلا نام درج کریں۔ | Choose if you have any disability. اگر آپ کو معذوری ہے تو نہیں یا ہاں کا انتخاب کریں۔ |
| Type of Liability اپنی ذمہ داری کی قسم درج کریں۔) | Select your gender اپنی جنس منتخب کریں۔ |
| Network, Code & Mobile number نیٹ ورک، کوڈ اور موبائل نمبر درج کریں۔ | Select no or yes if the property is in your name ہاں یا نا کا انتخاب کریں کہ اپ کے نام کوئی پراپرٹی ہے یا نہیں |
| Enter your current residential Address: Province, Division, District, Tehsil, City اپنا موجودہ رہائشی پتہ درج کریں جیسے کہ صوبہ، ڈویژن، ضلع، تحصیل، شہر | Select your CNIC issue district (شناختی کارڈ کا اجراء ضلع) |
| Is Permanent Address Different from Current? Select no or yes کیا مستقل پتہ موجودہ سے مختلف ہے؟ نہیں یا ہاں کو منتخب کریں۔ | Enter your permanent Address اپنا مستقل پتہ درج کریں۔ |
| Select your residence ownership status: owned, rented, or other. اپنی رہائش گاہ کی ملکیت کا درجہ منتخب کریں: ملکیت، کرائے پر، یا دیگر۔ | Are you a Politically Exposed Person? select yes or no کیا آپ سیاسی طور پر بے نقاب شخص ہیں؟ ہاں یا نہیں کا انتخاب کریں۔ |
| Politically Exposed Person Relation سیاسی طور پر بے نقاب شخص کے ساتھ اپنا رشتہ درج کریں۔ | Enter your strong password اپنا مضبوط پاس ورڈ درج کریں۔ |
| Re-enter your password for confirmation تصدیق کے لیے اپنا پاس ورڈ دوبارہ درج کریں۔ | Click on the register button after completing registration form رجسٹریشن فارم مکمل کرنے کے بعد رجسٹر بٹن پر کلک کریں۔ |
Application Fees
Tier 2 and Tier 3 applications have a non-refundable application fee. The costs are as follows:
- Tier 2 Application Fee: 10,000.
- Tier 3 Application Fee: 15,000
The application fee must be paid online through the Payment Slip Identification Number that will be generated once you submit the form. The PSID will be displayed on the screen after you complete the form submission.
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Submit the Application and Make the Payment
Once you have completed the form and uploaded all the necessary documents, you can submit your application. After submission, the system will generate a PSID that you will use to pay the application fee.
Here’s what you need to do:
- Pay the fee: Go to any bank branch or use the online payment system to pay the application fee using the PSID.
- Confirmation: Once the payment is processed, you will receive a confirmation message via SMS or email.
- Processing Begins: Your application will be reviewed after the fee payment, and you will be notified about the status of your application.
Status Updates and Follow-up
After you submit your application and pay the processing fee, you can track the status of your application via the official website. The website provides real-time updates on your application’s progress, including any further steps that may be required.
You will also receive SMS updates on the progress of your application, including approval, further documentation requirements, and disbursement of funds.
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Important Considerations
Here are a few important points to keep in mind while applying for the Asaan Karobar Finance Scheme:
- Accuracy of Information: Ensure that all information provided in the application form is accurate and up to date. Inaccurate information could lead to delays or rejection of your application.
- Security Documents: For Tier 2 and Tier 3, the submission of security documents is critical for loan approval. Make sure that all documents related to property ownership or government securities are in order.
- Non-refundable Fees: The application fees are non-refundable, so make sure that you meet all the eligibility criteria and have completed the application form correctly before making the payment.
- Timely Submission: Ensure that you submit your application well before the deadline to avoid missing out on the opportunity. Late submissions may not be considered.
Conclusion
The Asaan Karobar Finance Scheme offers a significant opportunity for small and medium-sized businesses to gain access to financing that they may otherwise find difficult to obtain from conventional financial institutions. Whether you are applying for Tier 2 or Tier 3, following the correct procedure and submitting all required documents is essential for the success of your application.
If you have missed the Tier 1 registration, there’s no need to worry – you can still apply for Tier 2 and Tier 3 via akf.punjab.gov.pk. Be sure to complete the application carefully, submit the required documents, pay the processing fee, and track your application for updates. By taking these steps, you can ensure that your business gets the financial support it needs to grow and thrive.
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FAQS
Is the registration for Tier 1 of the Asaan Karobar Finance Scheme still open?
No, the registration for Tier 1 has officially closed. Applicants can now apply for Tier 2 and Tier 3 only.
What is the application fee for Tier 2 and Tier 3?
The application fee is 10,000 for Tier 2 and 15,000 for Tier 3. These fees are non-refundable and must be paid via PSID.
Can I apply if I am not an active tax filer?
No, being an active tax filer is mandatory for eligibility under Tier 2 and Tier 3. You must be registered with the FBR.
What kind of documents are required as collateral?
You need to submit security documents such as property papers or government securities based on the loan amount requested.
How will I know if my application has been approved?
You will receive SMS or email updates regarding the status of your application. You can also track progress on the official website.