The Government of Pakistan has taken this initiative of granting interest-free loans to needy people of our country so that they can start their own businesses. The Government is offering loans ranging from 1 million to 5 million specifically targeted at the youth of our country.
These loans are designed to facilitate citizens in starting their own businesses. To avail these loans, the government has partnered with banks, allowing applicants to access the funds through the banking system.
Ehsaas Interest-Free Loan 75000 Online Registration 2023
Ehsaas program grants loans to small businesses that are free of any interest so that they generate income. The funding for these loans comes from both the federal and provincial governments. During the year 2019-2020, the government of Pakistan spent 5 Billion rupees for this initiative.
To apply for an Ehsaas loan of 75,000 (with an average loan size of Rs. 30,000), you can submit an online application. Additionally, the program provides business advisory services and facilitates connections with microfinance institutions, microfinance banks, and regular banks.
Eligibility for Ehsaas Interest-Free Loan Program
If you are between 18 to 60 years of age and you live in a house with a poverty score that lies between 0-40 and possess a valid National Identity Card (CNIC), then you are eligible for the program. Lastly, you are required to submit an economically viable business plan along with your application.
Ehsaas Loan Program 2023 Approval Process
Following steps are a must for the approval of Ehsaas loan program.
- The Ehsaas Registration Center conducts a thorough check of the application.
- The Ehsaas Registration Center provides a recommendation based on the evaluation.
- Individual cases are presented to the head office of the PO for further review and final approval.
Ehsaas Interest-Free Loan Online Apply
There are 22 partner organizations in Pakistan Poverty Alleviation (PPAF) that work closely day and night for the Ehsaas interest free loan program in rural areas. In cities and towns, the program is implemented through Akhuwat branch offices using loan centers located in 100 districts all over the country.
Detailed information about who can qualify for the loans, details about each district, the names of the loan centers, and the names of the partner organizations involved in implementing the program are all made available.
PPAF Loan Form Application Process
The Pakistan Poverty Alleviation Fund requires the following process to be completed for Ehsaas interest free loans.
- Applicants must go to the registration center and ask for the application form.
- The applicant must come from a household whose poverty score lies in the range.
- The applicant of the program should register himself as a potential borrower.
- A business plan for which the applicant is applying for the loan.
- Submission of documents.
Ehsaas interest free loan program is a valuable initiative to help the needy and deserving people of our country in starting their own businesses. It is being implemented through various POs and it offers interest free and accessible loans to those who are eligible.