In line with the Government of Pakistan’s and SBP’s measures for improving access to finance for female entrepreneurs, a Refinance & Credit Guarantee Scheme has been introduced for female borrowers pan Pakistan. Under the scheme, MCB Bank is providing financing facilities to women entrepreneurs to meet the financial needs of their business ventures
| Particulars |
Eligibility Criteria/ Product Features |
| Key Customer Eligibility Criteria |
- Financing shall be available to women entrepreneurs across the country
- Female business owners/entrepreneurs operating business/ about to start new business throughout the country
- Financing under the scheme should be provided to women borrowers preferably under the personal guarantee of the borrower for setting up of new business enterprises or for expansion of existing ones
- Long term loan for Balancing, Modernization and Replacement (BMR)/Expansion/New Unit. (No loan for land and building)
- Maximum age should not exceed 40 years and for existing businesses, age should not exceed 55 years. Minimum age for both the category is 30 years
- Financing will be provided to borrowers fall in Small Enterprises (SE) for setting up of new business enterprises or for expansion of existing ones
- Applicant should be owner of the business for at least three years or having at least one-year experience of handling in same industry/sector
- 1- Year bank account statement for existing businesses with minimum monthly average turnaround of 500,000
|
| Loan Amount |
Maximum financing limit under the scheme will be Rupees Five million PKR 5 Million. |
| Loan Tenor |
Up to 5 years including grace period of up to 6 months. |
| Pricing |
End user rate will be up to 5% per annum (p.a.). |
| Insurance |
As per Bank’s own Credit Policy |
| Repayment |
Repayment of loans by borrowers shall be made in equal quarterly installments after grace period (if any). |
| Equity |
- Equity to be contributed in form (i.e. Cash, land etc.)
- Debt to finance which assets (i.e. plant /machinery etc.)
- Bank Share will not exceed 50% of the value of asset being financed.
|
| Collateral/Security |
- Personal guarantee of the borrower/partner/directors.
- Postdated Cheques.
- Hypothecation of assets/plant & machinery being financed/etc.
- Mortgage of residential property/industrial project.
|
| Other Terms & Conditions |
As per Bank’s own policy/ SBP PRs/PPM. |
| Documents requirement |
As per Bank’s own credit policy/ PPM. |
