PM Youth Business Loan 2023 Eligibility, Application Form, How To Apply?
Are you ready to avail the opportunity for entrepreneurs in Pakistan. Now, you can get PM Youth Business Loan scheme 2023 with simple and easy terms. The Prime Minister of Pakistan has announced the Prime Minister Youth Business (PMYBL) Loan Scheme which have less markup. All the commercials, Islamic and SME banks will provide PM Business loan to the individual who will be eligible. There is no last date mentioned, so you can apply whenever you need to get this loan scheme. All the banks of Pakistan have same criteria as mentioned in PM Loan scheme.
PM Business Loan Scheme 2023 Eligibility Criteria:
- All the information available on Kamyab Jawan Yes Program is almost same with this loan scheme
- All men/women holding CNIC, aged between 21 and 45 years with entrepreneurial potential are eligible. For IT/ E-Commerce related businesses, the lower age limit will be 18 years.
- Small and medium enterprises (startups and existing businesses) as per definition of SBP and owned by youth as per above mentioned age brackets are also eligible.
- For IT/E-Commerce related businesses, at least matriculation or equivalent education will be required.
- This scheme is for both startups as well as existing micro and small business enterprises.
- You can always re-apply if you want to avail the increase in maximum loan size announced recently.
- No physical application is not allowed. All applications have to be submit online
- The minimum age for the applicant under this scheme is 21 years at the time of application submission. However, it is relaxable to 18 years in case of applicants applying for IT or Computer related businesses. The maximum age limit is 45 years at the time of application submission.
- At least one business partner’s/director’s age should comply with the age limit defined under this scheme (21-45 years).
- There is no general requirement of minimum educational qualification, though it will be a favorable
- consideration for decision making by banks. However, in case of businesses which compulsorily require certain qualification, certifications, diplomas, authorizations or licenses, the same must be held by the applicant.
- There is no gender discrimination in this scheme and applicants of all genders are offered equal opportunities. However, considering the ground realities and to protect the fair gender, a minimum of 25% share on aggregate basis of all loans is kept for women.
How To Apply For PM Youth Business Loan 2023
You need to fill the PM Youth Business Loan Application form that link is given below;
- You must have scanned copies / clear visible pictures of following documents ready before you start your application:
- Passport Size Picture
- CNIC – Front Side and CNIC – Back Side
- Latest Educational degree / certificate, if and whichever applicable: Matric, Intermediate, Bachelors, Masters, PHD etc.
APPLY ONLINE
- At least one business;
- Experience certificate(s), if applicable
- License / Registration with Chamber or Trade Body, if applicable
- Recommendation Letter from respective chamber / trade body or Union, this is mandatory in case of existing business.
- You must have the following information handy before you start your application:
- National Tax Number, in case you don’t have one please register at https://fbr.gov.pk/categ/register-income-tax/51147/30846/71148
- https://fbr.gov.pk/categ/register-income-tax/51147/30846/71148
- Consumer ID of Electricity bill of your current address. (NITB to link image of where consumer ID is written on electricity bill)
- Consumer ID of Electricity bill of your current office address, if applicable.
Track Your Application:
Please give below that information which you have entered during your form submission.
