The Government of Punjab has introduced the Asaan Karobar Finance Scheme to empower small and medium-sized enterprises (SMEs) by providing interest-free loans. A critical component of this initiative is the loan verification process, which ensures that funds are allocated to eligible and deserving applicants. This article delves into the detailed verification procedure for the year 2025.
Table of Contents
Eligibility Criteria for the Asaan Karobar Finance Scheme
Before initiating the loan verification process, applicants must meet the following criteria:
- Age: Between 21 to 57 years.
- Residency: Permanent resident of Punjab.
- Business Location: The business must be registered and operational within Punjab.
- Tax Status: Active tax filer with a clean credit history.
- Documentation: Possession of valid CNIC, registered mobile number, and necessary business-related documents.
Read More: Asan Karobar Finance Scheme
Required Documentation for Asaan Karobar Finance Scheme
Applicants are required to provide the following documents for verification:
- Identification:
- Valid CNIC (front and back).
- Recent passport-sized photographs.
- Proof of Residence:
- Utility bills, rent agreement, or domicile certificate confirming Punjab residency.
- Business Documentation:
- Business registration certificate.
- Detailed business plan outlining loan utilization and objectives.
- Past six months’ bank statements.
- Income proof or financial statements.
- References:
- Names, CNIC copies, and contact details of two non-family references.
- Security Details (for Tier 2 loans):
- Property documents or government securities as collateral.
Application Process for Asaan Karobar Finance Scheme
- Online Registration:
- Visit the official portal: akf.punjab.gov.pk.
- Sign up using a mobile number registered in your name.
- Complete the application form, which takes approximately 15 minutes.
- Upload all required documents in clear, scanned copies or photographs.
- Processing Fee:
- Tier 1 Loans (Rs. 1 million to Rs. 5 million):
- Non-refundable fee of PKR 5,000.
- Tier 2 Loans (Rs. 6 million to Rs. 30 million):
- Non-refundable fee of PKR 10,000.
- Tier 1 Loans (Rs. 1 million to Rs. 5 million):
- Submission Confirmation:
- Upon successful submission, an application registration number will be provided on-screen and via SMS.
- Applicants will receive SMS updates regarding their application’s status.
Read More: Verify Your Eligibility for the Asan Karobar Finance
Asaan Karobar Finance Scheme Loan Verification Process
The verification process is designed to ensure transparency and fairness:
- Digital Verification:
- CNIC and mobile number validation.
- Assessment of tax filer status and credit history.
- Physical Verification:
- Authorized agencies, such as the Urban Unit, will conduct physical inspections of the business premises within six months of loan approval and annually thereafter.
- Psychometric Assessment:
- Applicants may undergo evaluations to assess their creditworthiness and business acumen.
- Collateral Evaluation (for Tier 2 loans):
- Assessment of provided security documents to ensure they meet the scheme’s requirements.
Loan Approval and Disbursement
Upon successful verification:
- Loan Agreement:
- Applicants will digitally sign a personal guarantee.
- Life assurance coverage will be included.
- Disbursement:
- Funds will be disbursed through the Asaan Karobar Card, a digital SME card facilitating structured and transparent fund utilization.
- Usage:
- Payments to vendors and suppliers.
- Utility bills, government fees, and taxes.
- Cash withdrawals (up to 25% of the limit) for miscellaneous business needs.
- Digital transactions via POS and mobile apps.
Read More: Payment Method for Asaan Karobar Finance
Key Details
| Feature | Details |
| Loan Amount | Rs. 1 million to Rs. 30 million |
| Interest Rate | 0% (Interest-free) |
| Repayment Period | Up to 5 years |
| Processing Fee | Tier 1: PKR 5,000; Tier 2: PKR 10,000 (Non-refundable) |
| Application Portal | akf.punjab.gov.pk |
| Helpline | 1786 |
Conclusion
The Asaan Karobar Finance Scheme’s loan verification process in 2025 is meticulously designed to ensure that financial assistance reaches genuine and deserving SMEs in Punjab. By adhering to the outlined procedures and providing accurate documentation, applicants can facilitate a smooth verification and approval process, thereby contributing to the province’s economic growth and entrepreneurial development.
Read More: Qualify for Asaan Karobar Finance Scheme