Today government of Punjab has announced the scheme Under Prime Minister Business Loan Scheme; same like previous government introduce PM Business Loan Scheme for Youth. The difference is just current government Pakistan Tehreek Insaf PTI change the name of scheme and the New Name is Punjab Credit Guarantee Scheme that is Business Loan Program for Youth male and Females of Punjab domicile holders.
It’s a Opportunity for the Youth of Punjab, who want to start their new own business, so its loan opportunity for those male and female Youth.
Today date 08 December 2018 Punjab minister industry Mian Aslam Iqbal said that the terms and conditions for female will be easy and females can easily take loan by providing business idea online. He said Credit Guarantee Scheme schedule has been ready; they just need Prime minister Imran Khan for final announcement.
The Youth of Punjab can take Loan 30 Lakh under Punjab Credit Guarantee Scheme, but it’s necessary to provide business idea that Youth of Punjab have, the Applicant must be introduce that what type of business he will do after taking loan from government of Punjab.
After the officials of Business Loan Scheme meeting, will be loan approved. It’s necessary to satisfy to the officials of Punjab Credit Guarantee Scheme Team for final approval.
Applicant must prepare the final report that how much investment required for his business in which 30% the applicant will be invest from their pocket and 70% payment will be provided by Government of Punjab Under PM Business Youth Loan Scheme or Punjab Credit Guarantee Scheme for male and for female 20% will be invested by female business owner and 80 percent payment loan will be provided by Government of Punjab.
The loan will be returnable within five years with one year will be given favor by government. Government of Punjab has been budgeted amount for Youth Business Loan scheme and the total Amount is 55 Crores.