Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur officially initiated the Ehsaas Nojawan Program. Under this program, loans will be given to the youth to start small and big businesses. In the loans, one lakh to five lakh rupees will be provided to start small businesses. For large businesses, loans from 10 lakhs to 50 lakhs will be offered.
The Ehsaas Nojawan Program removes financial barriers to entrepreneurship that restrain the entrant capability of youth, thus creating optimum business opportunities for the youth of the province. Actually, these programs operate on the huge potential of our youth, which is constrained by such limited financial resources. The loans would be disbursed through the Ikhwat Islamic Microfinance Institute and the Bank of Khyber.
You will get a small loan of one lakh to five lakhs through Akhwat Islamic Microfinance and big loans through the Bank of Khyber. These loans will be given to you without interest, and you can easily return it for eight years. For that purpose, online registration is also available so that you can get a loan through the Bank of Khyber.
This article is going to describe the complete procedure for Ehsaas Young Program Online Registration. In loan applications for small loans, you have to go to your nearest Islamic Brotherhood Mayo Karo Finance Institute. All details are provided in this article.
Loan Distribution Details
Ehsaas Nojawan Program gives two basic loans since the scale of business requires:
- Loans for Small Business: For young entrepreneurs carrying on small businesses, the loans range between PKR 100,000 and PKR 500,000 at Akhuwat Islamic Microfinance Institute.
- Loans for Huge Business: Loans for other huge businesses range between PKR 1 million and PKR 5 million, which are provided by Bank of Khyber.
This provision ensures availability of funds for both small and big business ventures with no interest and no collateral; the venture therefore becomes easier to access for a large population.
Interest-free and Collateral-free Loan
The Ehsaas Naujawan Programme is specific to the fact that its loans are interest-free, thereby helping to not be burdened with much financial stress which characterizes most borrowing operations. In addition, the loans do not require any collateral to obtain them, opening up access for the youth who would otherwise fail to access funding through this traditional method. This feature ensures that even those from less privileged backgrounds can go ahead and pursue business dreams free from financial anxiety.
How to Apply for Ehsaas Nojawan Program Loans
The application process for the Ehsaas Nojawan Program varies with the loan type. Here is an application step for each category.
Ehsaas Nojawan Program Registration
Loans for small businesses are provided by the Akhuwat Islamic Microfinance Institute. Here is how you can apply:
- Select the nearest Akhuwat Branch: An applicant has to visit a branch of Akhuwat. To select the nearest, look at Akhuwat Branch Locator.
- Application Form: Complete a loan application form along with all other relevant details
- Submission of Documents: All the documents that will be required at the time of shortlisting are submitted along with identity, residence, and a business plan.
- Review of Application and Amount Disbursement: Akhuwat will review the application, and if applicant gets cleared, the amount will be disbursed.
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Ehsaas Nojawan Program KPK Online Registration
Massive loans for giant business dealings can be applied at the Bank of Khyber. How to Apply,
Online Registration For this purpose,
- Online Application: Reach the official online Ehsaas Nojawan Program website run by the Bank of Khyber: Bank of Khyber Ehsaas Nojawan Portal .
- Fill Out Online Form: Enter all information into the online application form accurately.
- Upload Required Documents: Upload your necessary documents, including a valid CNIC, business plan, and proof of residence.
- Application Processing: Bank of Khyber will process the applications. Once authenticated, the loan directly shall be transferred to your account.
Repayment Terms of Loan in the EHSAS Nojawan Program
Ehsaas Nojawan Program has structured its loan repayment terms so that the youth gets time to build up his businesses:
- Bank of Khyber Loans: Repayment period up to eight years, which would ensure that repayment installments remain reasonable.
- Akhuwat Islamic Microfinance Loans: There is availability for the repayment period between 36 and 60 months.
The design of the program allows these young entrepreneurs to run their businesses without the pressure of repayment to encourage growth with much-needed support towards them.
Proportionate Presence in KPK
For a fair distribution, it distributes funds among districts, which is according to the population of its residents. It makes sure that all those youths are given equal opportunities from the districts of far-flung areas through this project to obtain loans for establishing businesses.
Impact of the EHSAAS Nojawan Program
The Ehsaas Nojawan Program is not only a financial aid package, but it is also a transforming program and a long-run socio-economic benefit.
Youth Empowerment: The program gives financial support and empowers young people to be independent and financially sound.
Economic Development: Businesses run by youth contribute towards the local economy, thus ensuring a cycle of growth and opportunities.
Job creation: With new businesses, there will be employment in the communities by creating support around these businesses.
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Conclusion
The Ehsaas Nojawan Program, presented by the Khyber Pakhtunkhwa government, is like a gift to the young people of Khyber Pakhtunkhwa because it offers interest-free and collateral-free loans with flexible repayments. The government has removed all barriers and ensured youth have full resources for success, which is why now is the right time for young entrepreneurs looking to either begin or grow businesses.
To start with, just visit your nearest branch of Akhuwat for small business loans or just log in the online application through the Bank of Khyber portal for bigger activities. Ehsaas Nojawan Program: Make your dreams come true: Apply now and take that first step toward building a successful future for yourself and your province.