Prime Minister’s Youth Loan Scheme
All the students of Punjab University are urged to apply
loans under Prime Minister’s Youth Loan Scheme. This small business loan
Scheme will focus on educated youth looking for establishing new
business / enterprise.
The interested students need to submit small description of proposed business plans / projects to their heads of departments in next 24 hours. The applicants must have 10% of seed money with them on requested loan amount.
The Top 50 students selected by the university will be invited in PM House, Islamabad on 25th of November, 2013 Salient Features of the scheme are:
Loan up to Rs. 2 Million (Rs. 0.5 Million – Rs. 2 Million) Only 8% markup To be distributed by NBP (National Bank of Pakistan) & FWB (First Women Bank) Total loans are 1 lakh All Pakistani nationals Eligibility – 21 years to 40 years Minimum educational qualification is Middle Students need to submit feasibility of the proposed project One personal guarantee required The applicant must have 10% seed money 15 days approval time The loans will be awarded transparently on pure merit basis 50% quota is for women The loans are to be paid back in seven years Monthly installments To mitigate risk, Government will share 50% of the losses subject to the maximum of 10% of the loan amount
The interested students need to submit small description of proposed business plans / projects to their heads of departments in next 24 hours. The applicants must have 10% of seed money with them on requested loan amount.
The Top 50 students selected by the university will be invited in PM House, Islamabad on 25th of November, 2013 Salient Features of the scheme are:
Loan up to Rs. 2 Million (Rs. 0.5 Million – Rs. 2 Million) Only 8% markup To be distributed by NBP (National Bank of Pakistan) & FWB (First Women Bank) Total loans are 1 lakh All Pakistani nationals Eligibility – 21 years to 40 years Minimum educational qualification is Middle Students need to submit feasibility of the proposed project One personal guarantee required The applicant must have 10% seed money 15 days approval time The loans will be awarded transparently on pure merit basis 50% quota is for women The loans are to be paid back in seven years Monthly installments To mitigate risk, Government will share 50% of the losses subject to the maximum of 10% of the loan amount
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