{"id":78896,"date":"2021-08-19T10:00:00","date_gmt":"2021-08-19T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=78896"},"modified":"2021-08-17T17:48:40","modified_gmt":"2021-08-17T12:48:40","slug":"sbp-sme-asaan-collateral-free-financing","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-sme-asaan-collateral-free-financing.html","title":{"rendered":"SBP announces \u2018SME Asaan Finance\u2019 or SAAF scheme for collateral free financing"},"content":{"rendered":"\n

Karachi: The State Bank of Pakistan (SBP) has introduced \u2018SME Asaan Finance\u2019 or SAAF scheme for the Small Medium Enterprises (SMEs) to get loans without collateral, a news source reported on August 16. Under the announced scheme, SMEs that were previously unable to obtain funding owing to a lack of collateral will be able to obtain a clean loan of up to PKR 10 million.\u00a0<\/p>\n\n\n\n

Read:<\/strong> FM Qureshi invites Sri Lankan businessmen to invest in Pakistan<\/a><\/p>\n\n\n\n

SBP indicated that these loans will be utilised to address SMEs’ long-term fixed capital investment and working capital credit needs. Shaukat Tarin, the Federal Minister of Finance and Revenue, stated that the move will usher in a new age of growth and industrialization in the country.<\/a> He expressed hopes that commercial banks will also join the initiative.\u00a0<\/p>\n\n\n\n

\u2018Selected banks will get refinance from the SBP at 1 percent per annum and extend financing to SMEs at end user rate of up to 9pc p.a. which is very attractive compared to informal finance costs,\u201d according to SBP.\u00a0<\/p>\n\n\n\n

Read:<\/strong> PM for promotion and improvement of SMEs<\/a><\/p>\n\n\n\n

After three years, the refinance will be repaid by banks in 10 equal yearly instalments.<\/p>\n\n\n\n

In order to support banks, the government will also provide risk coverage of 40-60% to selected banks against losses based on the loan amount. The risk cover will be:  <\/p>\n\n\n\n

\u2022 60% for small loans up to PKR 4 million <\/p>\n\n\n\n

\u2022 50% for midsize loans falling between PKR 4 million and PKR 7 million<\/p>\n\n\n\n

\u2022 40% for relatively large loans between PKR 7 million and PKR 10 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Karachi: The State Bank of Pakistan (SBP) has introduced \u2018SME Asaan Finance\u2019 or SAAF scheme for the Small Medium Enterprises (SMEs) to get loans without collateral, a news source reported on August 16. Under the announced scheme, SMEs that were previously unable to obtain funding owing to a lack of collateral will be able to obtain a clean loan of up to PKR 10 million.\u00a0 Read: FM Qureshi invites Sri Lankan businessmen to invest in Pakistan SBP indicated that these loans will be utilised to address SMEs’ long-term fixed capital investment and working capital credit needs. Shaukat Tarin, the Federal Minister of Finance and Revenue, stated that the move will usher in a new age of growth and industrialization in the country. He expressed hopes that commercial banks will also join the initiative.\u00a0 \u2018Selected banks will get refinance from the SBP at 1 percent per annum and extend financing to SMEs at end user rate of up to 9pc p.a. which is very attractive compared to informal finance costs,\u201d according to SBP.\u00a0 Read: PM for promotion and improvement of SMEs After three years, the refinance will be repaid by banks in 10 equal yearly instalments. In order to support banks,…<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[47613,47614],"persona":[],"class_list":{"0":"post-78896","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"tag-sbp-announces-sme-asaan-finance-or-saaf-scheme","9":"tag-sme-announces-assan-finance-scheme","10":"cat-20385-id"},"acf":[],"yoast_head":"\nSBP announces \u2018SME Asaan Finance\u2019 scheme for SME- Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has introduced \u2018SME Asaan Finance\u2019 or SAAF scheme for the Small Medium Enterprises (SMEs) to get loans without\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-sme-asaan-collateral-free-financing.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP announces \u2018SME Asaan Finance\u2019 scheme for SME- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) has introduced \u2018SME Asaan Finance\u2019 or SAAF scheme for the Small Medium Enterprises (SMEs) to get loans without\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-sme-asaan-collateral-free-financing.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News & Pakistan Property News & Latest Updates - 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