Planning to start your own business? HERE is the list of all the banks providing loans for small businesses

Owners of small businesses can apply for loans from a variety of sources, including banks and microfinance institutions.

Small businesses are often considered as the backbone of any economy, and many microfinance banks in Pakistan have been granting loans to them.

Owners of such small-scale businesses can apply for loans from various sources, including banks and microfinance institutions.

Here are some of the steps to get a loan for your business:

Step 1: Choose the category

Before applying for a small business loan, you must learn that banks and microfinance institutions have different loan categories. Therefore, apply for a small business loan following your business type and requirements. You are also required to consider the loan length and its particular terms before applying for the loan.

Step 2: Identify your lenders

The next step is to recognize your lenders. You are required to carry thorough research on your business. It will help you identify the lenders who could provide you loans at the lowest interest rate in line with your business’s nature and type.

Step 3: Review your credit risk capacity

Analyzing your credit risk capacity is very important before you apply for a loan. You are required to assess your profile from the lender’s perspective. Consider the following critical factors while reviewing your profile:

  • Assess your credit history
  • Analyze your cash flows and unsettled loans
  • List down your financiers (if any)
  • Make a list of your business assets (if involved)
  • Review your business financial statements
  • Understand every reasonable point related to your loan application

Step 4: Explain your loan Usage

One of the most crucial tasks is to mention the usage of your loan to its lender. It would confer your financial situation to lenders and help them understand how you will be spending the loan, i.e., purchasing equipment or capital expenses, etc.

In the end, the lender is concerned mainly about the payments of loans on time. Therefore, selecting transparent financing is also required, especially for small business owners.

Step 5: Banks offering loans

Here is the list of some microfinance organizations and banks that give loans to small businesses in Pakistan:

  • U-Microfinance Bank Limited
  • Mobilink Microfinance Bank Limited
  • Pak Oman Microfinance Bank
  • FINCA Microfinance Bank Limited
  • NRSP Microfinance Bank Limited
  • Tameer Microfinance Bank
  • Khushhali Microfinance Bank
  • Apna Microfinance Bank Limited
  • First Microfinance Bank Limited

What are your views on this? Share with us in the comments below.

  • AoA’ Sir Guzarish ye hy k me ne Apny business ko start karny k leye muje kuch Amount ki zarorat ti Sir me Moblink microfinance bank Mardan kai bar chakar laga chuka hon. Sir waha jo larka kurse par beta hy onka Stampaper walo k sat commesion par bat howe hy.. Sir on me muj se har tarha k Garontors mangy hy me ne deye hy yaha tak k Goverment Sarvant b deya hy.. Sir Guzarish siraf ye hy k mera taqreeban Any jany or 7to 8 martaba Stampapers lany par taqreeban 2500 se 3000 tak harcha Aya hy .leeken mera kam nahe howa .or Sir osny mere same Apny elaqy k Asy logo ka kam kuch hi dino me keya hy k jo nashaii etc ho.Sir me sab ko janta hon me saboot k sat Apko onki details dy sakta hon. Muje kafi duk k sat Comments dena par raha hy Q k os larky me mera 2 months time zaya keya hy Asky bawajod Abi b wo keh raha hy k Ap satmpaper waly k pass jow me As bar kam kar donga leeken Sir muje Ab Mobilink microfinance par tab tak Atemad nahe rahy ga jab Tak Asy mafiyass bety howe ho. Sorry

    • ap direct manager se bat kro ya helpline pr complain kro is kanjer ki.. usky khilaf head office me complain kro

  • Jab new pakistan ke liye hai Tou pakistani national language mein kyun nahi … ya humari national language english hai …

  • mujh 50 lac loan chahiye, guarantee ki liye Surjani town ma 200 gaz k plot ki file jama kara sakta hun, 40 to 50 hazar monthly profit de sakta hun, loan km az kam 2 years k liye chahiye, agr koi interested ho tu call me 03308640872

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