LOLC Karobari Qarza

Product Description:

Products Description
Purpose LOLC Karobari Qarza  loan is disbursed to enhance the business and fulfill the requirement of investment for a business. This product shall be extended to individuals for managing their existing business OR establishing new business (For Working Capital/ Asset Acquisition/ Raw Material etc.).
Eligibility Criteria Annual Income is up to Rs. 1,200,000 (net of all deductions).
Product Nature Individual Loan
Loan Range Rs. 100,000/- to Rs. 350,000/- Rs. 70,000 to 350,000 to selected branches
Loan Term 06 to 36 Months
Repayment Mode Equal Monthly Instalments (EMI), Structural Monthly Instalments
Collateral Maximum two Guarantors/Personal Guarantees OR Pledge of Asset
Documents Required
  1. CNIC copy of Customer & Next of Kin
  2. CNIC Copy of Guarantors (where applicable)
  3. Utility Bill preferably electricity of business place/residence OR any other document proving the ownership (Customer/Guarantor-as per the requirement).
Who Can Avail Any one running his/her own business within the age bracket of 18 – 62* years with at least two years in relevant business (for existing business) and for new business, customer should have relevant skills & experience *(Maturity of loan should coincide with the 62nd birthday of the customer