How to apply online for 100 Billion Kamyab Jawan Programme Full Details

How to apply online for 100 Billion Kamyab Jawan Programme. Prime Minister Imran Khan today launched a “successful youth program” for the welfare of youth across the country on October 17, 2019. Through the Successful Youth Program, the government aims to open the doors to the economic and economic empowerment of young people.

The Prime Minister announced that 100 billion rupees have been allocated for youth loans under this program. Prime Minister Imran announced that loans of up to one lakh rupees would be interest-free, while loans from two other categories would be privileged loans.

Under the program, one million youths will be facilitated. “We have young people, they are our strength, but unfortunately [we do not have the skills,” he said. Under this program, the Prime Minister announced that 100 labs will be set up for distance education.

He said the program would also arrange internships through which 25,000 young people would be connected to the industry.

Eligibility Criteria:
  • All men/women/transgenders holding CNIC, aged between 21 and 45 years with entrepreneurial potential. For IT/E-Commerce related businesses, the lower age limit will be 18 years.
  • Small Enterprises (startups and existing businesses) as per the definition of SBP and owned by youth as per the above-mentioned age brackets.
  • For IT/E-Commerce related businesses, at least matriculation and/or experience of at least 6 months will be required
Major Features of Kamyab Jawan program / Youth Entrepreneurship Scheme
  • Interest-free loans from PKR: 10,000 to 100,000
  • Micro Loans of Rs. 100,000 to Rs. 5,000,000
  • Small Loans 500,000 to 5 Million
  • Payback in eight years
  • 25% quota for women
  • Also available for 18 years of youth working in IT/E-commerce industry
  • 25,000 Internships
Bank Named for Successful Young Loan Scheme:

In the first phase, loans will be made through the following banks.

National Bank of Pakistan (NBP),
Bank of Punjab
Bank of Khyber

The NBP will continue to play a central role. NBP’s share of up to 50% in distributed loans.

Later, other commercial banks will also be asked to participate in the program through the State Bank.

Who can apply for the Prime Minister’s Successful Youth Program Loan?

All citizens and women holding CNICs between 21 and 45 years of business ability are eligible.
The minimum age limit for an IT/e-commerce business will be 18 years
Small businesses (startups and existing businesses) owned by young people as mentioned above.
Businesses related to information technology or e-commerce require at least a matric qualification and six months of experience.

Loan size

The loan amount has been separated into two levels, such as:

Tier 1 (T1) Loans – Rs. 0.5 million
Tier 2 (T2) loans over 0.5 million and up to Rs 5 lakh

Loan term

Up to 8 years with a maximum grace period of one year.

Debt to equity ratio

T1 loan – 90:10
T2 loan – 80: 20
Lenders’ equity contribution will be in the form of cash or real estate and will be required after the loan is approved.

Focus on women

25% loan will go to women lenders.

Security Requirements

The security measures will be as follows:

T1 Loans: Clear, however, only the borrower’s personal guarantee
T2 loan: as per the bank’s own credit policy.

Fees & Charges:
Processing Fee: Rs. 100
Other Charges: At Actuals
Charges of all sorts will only be payable by successful applicants
Sectors and Products Under Successful Young Loan Scheme

All fields. Standard schemes/projects/ projects designed by SMEDA, or projects created by private sector service providers or individuals, will be acceptable to themselves.

Application Form for Prime Minister YES Successful Young Loan Scheme

This form will be in both English and Urdu and will require at least the necessary information with a simple format.
Processing time shall not exceed 15 days and will be clearly stated in the application form.
These forms will be readily available at both branches and through banks’ dedicated websites. A non-refundable form processing fee will be Rs 500. 100 (Only one hundred rupees.

It has been developed in partnership with three key departments, namely the Pakistan Poverty Alleviation Fund (PPAF), which has a wealth transfer program and interest-free loan program and State Bank of Pakistan (SBP) as well as three. Will take care of the major banks (National Bank of Pakistan). , Bank of Punjab and Bank of Khyber) and Small and Medium Enterprise Authority (SMEDA), which will collaborate to provide subsidized loans to young people, as well as give them the basic skills to run a successful business.

All Pakistani youth between the ages of 21 and 45 can apply for this loan. About 25% of the loan will go to female lenders.

Two levels have been set up for loans. T1 Loan – Rs 100,000 to Rs 0.5 million and T2 loan over 0.5 0.5 million and up to Rs 5 lakh.

Loans ranging from Rs 10,000 to Rs 100,000 will be free of interest.

Kamyab Jawan Programme 2019

The loan application processing period is 30 business days.

Applicants can apply for a loan online.

Online Apply Click Here

 

How to apply online for 100 Billion Kamyab Jawan Programme Full Details
How to apply online for 100 Billion Kamyab Jawan Programme Full Details

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