Prime Minister Youth Business Loan Scheme Online Registration

All the details related to the Prime Minister Youth Business Loan Scheme Online Registration are available here. The Prime Minister’s ‘Youth Business Loan’ program is aimed at young entrepreneurs aged 18 to 45 and offers subsidized financing at an annual markup of 8.0% for up to 100,000 beneficiaries. This funding will be made available through selected financial institutions, initially through the National Bank of Pakistan (NBP) and First Women Bank Ltd. (FWBL).

Prime Minister Youth Business Loan Scheme Online Registration

• All applicants must head over to the official website of PMYBALS and enter their details.
• After entering the complete personal details, Education or Qualification-related information must be entered.
• The next step is to enter business-related information and decide your future business plan and strategies.
• Afterwards loan amount and relevant details must be mentioned in the section given of loan details.
• Financing details including bank information and relevant stuff must be entered.
• At the end, Contact details and Reference Information must be entered.

Mission and Vision

PMYLS encourages entrepreneurship among the youth by offering business loans with easy terms and low markup rates through 15 Commercial, Islamic, and SME banks. Small business loans will have a tenure of up to 8 years, including a one-year grace period, with a debt-to-equity ratio of 90:10. These loans will be distributed to SME beneficiaries across Pakistan.

Also Read: BISP Scheme 8171 Online Registration

Different Categories Quotes

The program includes a 50% quota for women and a 5% quota for the families of Shaheed, widows, and disabled individuals. Quota-based seats are separated from other applications as they are reserved.

PM Youth Business Loan Scheme Objectives

The primary objective is to equip the youth to play a meaningful role in Pakistan’s development and economic stability. By implementing these initiatives, the focus is on giving young individuals the tools and opportunities necessary to succeed and make a meaningful difference. One of the objectives of this program is also to help young people stand on their own feet so that they can start their own businesses and improve their future.

Eligibility Criteria for Youth Business Loan Scheme

Pakistani citizens aged 21 to 45 with a passion for entrepreneurship are eligible to apply for the loan. For IT and E-Commerce ventures, the minimum age requirement is 18 years. This age limit applies to individuals and sole proprietors.

Small and medium businesses owned by youth as per above mentioned age brackets are also eligible. In the case of agriculture, the farmer’s classification as per SBP’s “indicative credit limits and eligible items for agriculture financing 2020” will be applicable.

Documents Required

You must have scanned and clear picture of the following documents before applying:

• Passport size picture.
• CNIC front side
• Latest Educational degree/ certification.
• Experience certificate, if applicable.
• License/ registration of chamber or trade body, if applicable
• Recommendation letter mandatory in case of existing business.
• National tax number (in case you don’t have then apply at https://www.fbr.gov.pk/ )

Loans in 3 Tiers

The loans offered under PMYB&ALS are categorized into three distinct tiers, ensuring tailored support for different levels of business needs.

•  In Tier 1, the range is up to Rs.500,000 with 0% markup through MFI/MFB.
• In Tier 2, The range is above Rs. 500,000 to Rs.1,500,000 collateral-free with 5% markup.
• In Tier 3 includes, 1.5 Million up to 7.5 Million PKR collateralized with a 7% markup.

Approval procedure

• Evaluation:

The bank will evaluate the entrepreneurial potential based on its financing policy and assessment criteria.

• Interview and Assessment

Applicant will be invited for interview and assessment on a case-to-case basis.

• Verification

It will be conducted by the bank for assessment and ongoing monitoring of financing’s utilization through a robust independent verification mechanism.

• Financing

Financing will be approved or rejected as per the profit of the customer and his/her eligibility according to the Government’s scheme and bank’s financing policy.

• Decision

It will be communicated to the customer through SMS on the provided number.

How To Apply For PM Youth Business Loan Scheme Online Registration By CNIC?

The procedure for the Prime Minister Youth Business Loan Scheme Online Registration via Identity card number is mentioned below.

• Open the Prime Minister Youth Business Loan Scheme web portal.
• After the web portal of PM, a loan scheme is opened.
• Search for the Loan scheme apply.
• The page will be redirected to the apply link.
• Click on the link.
• Now fill out the loan scheme application form.
• After you complete the PM Loan scheme application form click on the finish button.
• Your application for the youth loan scheme will be forwarded to the PM Loan scheme officials.
• The PM Loan scheme officials will contact you within a few days.

Conclusion

The complete information relating Prime Minister’s Youth Loan Scheme is mentioned here. The eligibility criteria, the documents required, the application procedure, and loan-related information are mentioned here. Prime Minister’s Youth Loan Scheme is a very good initiative by the Prime Minister of Pakistan to support small businesses and entrepreneurs as well as farmers. In short, we can say that the Prime Minister’s scheme is such that people of all ages will benefit from it. Through this scheme, loans will be provided at extremely low interest rates. The best part of this scheme is that you can repay the loan at your convenience by creating installments according to your preference.

درخواست فارم چائیے تو کمنٹ میں بتا دیں کسی قسم کی دشواری ہو اپلائی کرنے کی پھر بھی کمنٹ میں بتا  دیں

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