CM Punjab Asaan Karobar Card

The Punjab government has introduced the CM Punjab Asaan Karobar Card scheme to promote small businesses. Under this scheme, entrepreneurs are given interest-free loans of up to Rs 10 lakh. If you also want to benefit from this loan, you will need to submit the following documents.

Eligibility for CM Punjab Asaan Karobar Card

• Before applying for this loan, make sure that you meet the following conditions:
• The applicant must be a permanent resident of Punjab.
• The age must be between 18 and 60 years.
• The applicant must have an ongoing business activity or want to start a new business.
• Have the ability to repay the loan.

“This scheme helps youth, women and people with disabilities to start businesses, so that they can become financially self-sufficient.”

Required Documents

While applying for CM Punjab Asaan Karobar Card, you have to submit the following documents:

1. Identity Documents

• Copy of National Identity Card (CNIC)
• If the applicant is a woman, then CNIC of husband or father (if applicable)

2. Residence Proof

• Utility Bill (Electricity, Gas or Water Bill) to prove current address
• If the business is on rented premises, then Rent Agreement

3. Business Documents

• Business Registration Certificate (if available)
• Sales Tax Registration (if applicable)
• Bank Statement (last 6 months)
• If the business is already running, then proof of business accounts or income

4. Other Required Documents

• Passport Size Photographs (Recent)
• Mobile Number and Email Address
• If the applicant has taken a loan from any other bank, then its record

Application Procedure

1. First, Punjab Small Industries Corporation (PSIC) or designated bank Visit the website and download the online form.
2. Complete the form with all the necessary documents.
3. Submit the form to the concerned bank or PSIC office.
4. After the application is scrutinized, you will be approved for the loan.

Loan Repayment Terms

• The loan has to be repaid within a period of 5 years.
• No installment has to be paid for the first 6 months (grace period).
• Later, the payment has to be made in the form of monthly or quarterly installments.

Frequently Asked Questions (FAQs)

1. Is this loan really interest free?

Yes, this loan is given completely interest free by the Punjab government.

2. Are job seekers also eligible for this loan?

No, this scheme is only for entrepreneurs or those starting a business.

3. How long does it take to get the loan?

After complete verification of the documents, it can usually take 4 to 6 weeks.

4. Can women avail loans under this scheme?

Yes, women entrepreneurs are given priority.

5. What happens if my business fails?

The government may extend the loan in some cases, but the loan will not be waived.

Conclusion

CM Punjab Asaan Karobar Card is a great opportunity to promote small businesses. If you complete the required documents and meet the conditions, you too can avail this interest-free loan. For more information, contact the official website of the Punjab government or your local bank.