Khyber Karobar Support Program 2022 Apply Online

Khyber Karobar Support Program 2022 Apply Online

Rozee News offers latest news updates about public/private sectors jobs, national/international scholarships and banking news etc. In this post, Rozee News offers the latest notification of business loan named “Khyber Karobar Support Program 2022 Apply Online”. Business play a vital role in the development of any country. Through Khyber Karobar Support Program, an entrepreneur can play a vital role in the development of society. The Khyber Karobar Support Program is offered by Bank of Khyber. The Bank of Khyber offers golden opportunity for those person who wants their own business.

Program’s Objectives:

  • Provide easy access to finance for start-up, promotion, expansion and development of economically viable businesses.
  • Provide access to finance to the provincial economy on a regular basis.
  • Encouraging talented youth to play their part in the economic development of the province by creating new institutions.
  • Create new jobs in the province.
Khyber Karobar Support Program 2022 Apply Online
Khyber Karobar Support Program Apply Online

Program’s Target Location:

  • Khyber Pakhtunkhwa

Khyber Karobar Support Program Eligibility Criteria:

  • Age range is 18-55 years.
  • The applicant must be a permanent resident of Khyber Pakhtunkhwa.
  • Business should be in Khyber Pakhtunkhwa.
  • Men / women involved in trading, manufacturing and services can apply for all existing / proposed business or any other new idea to have a viable business plan and fulfill other terms and conditions.
  • Professional graduates such as doctors, engineers, business graduates, etc. Or at least one year of technical and vocational training from a recognized institution.
  • The prospective applicant should have a strong business idea about the skill set.
  • Not receiving education as regular student in any educational institution.
  • The applicant should not be a defaulter or be a defaulter of any bank / financial institution.
  • The business must have the potential to create more jobs.
  • In case of any loan or grant, the business person has a clear eCIB and proper use.
  • Businesses on the government’s negative list, including unlicensed weapons and ammunition, explosives, radioactive materials, security printing, alcoholic beverages and alcohol, will not be encouraged. Property business will be counted in the negative list.

Program’s Financing Limit:

  • Minimum PKR 100,000/- Maximum PKR 1,000,000/-

Tenure:

  • Up to five (05) years

Grace Period:

  • Range from 3 to 6 months.

Debt/Equity Ratio:

  • 60:40

Mark up Rate:

  • One year KIBOR+700 BPS.

Late Payment Penalty:

  • Two percent (2%) on installment amount.

Program Security:

  • 02 PGs At least one guarantor BPS 12 or above must be a provincial government employee. [A guarantor cannot guarantee more than two loans]

OR

  • Equitable mortgage of property acceptable to BOK.
  • Liquid security such as RICs, DSCs, TDRs etc.
  • In case of vehicle, it will be registered in the name of the bank.

Program Repayment                                

  • The amount to be paid by the borrower in equivalent monthly installments (EMI) as determined by BOK.

Khyber Karobar Support Program Required Documents Pre-Approval:

  • Properly filled out application form.
  • Accurate CNIC copy of owner / partners and guarantors.
  • A passport size photograph of the applicant.
  • Applicant’s Utility Bill.
  • Borrower Basic Fact Sheet (BBFS)
  • View the bank’s nominee report.
  • SBP Undertaking and eCIB Report
  • Copy of valid NTN / STR (Cell Tax Registration) where applicable. The NTN / STR holder will be preferred, the numbers will be assigned to the risk rating sheet.
  • Partnership Deed [Formal Form H, Informal on Stamp Paper]
  • Audited / non-audited financial statements (optional)
  • Statement / Proof of Account to determine the applicant’s equity.
  • Copy of Property Documents (eg Title, NEC, FARD etc.) (Optional)
  • Quotation for purchase of required business equipment / materials (where applicable).
  • Other required documents (if required)

Khyber Karobar Support Program Required Documents Post Approval:

  • Charge documents (such as DP note, finance agreement etc.)
  • Personal guarantees
  • Clear CAD certificate.
  • Original title documents
  • Property Appraisal Report
  • Program’s Processing Fee:
  • Flat PKR 1000 / – will be charged on every successful (approved) application.

How to Apply for Khyber Karobar Support Program 2022

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