- Product Description
SMC “General Loan” serves the increased credit needs of clients, who want to expand their micro enterprises to increase sale and turnover. Loans are extended for enhancement of income patterns and to create the business activity through purchase of assets, stocks etc to boost the sale/production and manufacturing assets. In this business whose clients take the loan who having technical experience and this loan proposed the individual loan.
- Eligibility Criteria
a) Household annual income less than Rs. 1,000,000
b) Age between 18-58 years
c) Holding valid CNIC
d) Work experience minimum of 3 years
e) Permanent resident of the local area
f) Running business only
g) Positive credit worthiness as per “SMC” criteria
- Purpose of Loan
a) Fixed Assets (purchase of machinery/equipment, furniture and fixture, tool & accessories construction/improvement of business premises etc).
b) Working capital (purchase of inventories/ inputs and other expenses).
- Lending Methodology
Individual Lending/ Group Base Lending and group will be comprised between 3-6
- Guarantee
Post dated cheques
- Loan Period
12 months
- Loan Repayments
Equal Monthly Installments
- Loan Amount
a) Minimum PKR. 50,000
b) Maximum PKR. 100,000
- Loan Insurance
Loan Insurance in Case of Death only and remaining Loan will be claimed