Term finance facility exclusively offered to women entrepreneurs across the country to boost economic activities.

Features and Benefits

• Financing is initially available to meet the working capital requirements of existing business and to set up a new business
• Maximum financing tenure under the scheme is five years
• Financing under the scheme is for women borrowers preferably under the personal guarantee of the borrower
• Repayment of loans by borrowers shall be made in equal quarterly instalments after grace period (if any)
• End-user rate is up to 5% p.a. with SBP’s refinance rate of 0% p.a.

Financing Criteria

• Financing under the scheme is for setting-up of new business enterprises or for expansion of existing ones.
• In case of new business:
  • Feasibility based lending
  • Equity participation: 50%

Target Market

• Women entrepreneurs pan Pakistan

Financing Limits

• Maximum limit: Rs. 5 million

Financing Tenure

• Upto 5 years limit with maximum grace period of 6 months

Purpose of Financing

• Setting up of new businesses or expansion of existing ones

Documentation

Documents to be kept by branch for record

Individuals

• Attested copy of the CNIC(s) of proprietor/partner/director (as applicable)
• One recent passport-size photograph of proprietor/partner/director (as applicable)
• Copy of any latest paid utility bill received at the residential address
• Copy of rent deed/lease deed, where property is rented
• Undertaking that the customer is not the director, major shareholder holding 5% or more of the share capital of the Bank, its chief executive or an employee or any family member of above interested persons
• Copy of net worth statement (if available)

Additional Documents for Proprietorship/Partnership/Company (Public/Private)

• Copy of any latest paid utility bill received at business address
• Copy of rent deed/lease deed, where property is rented
• Copy of current professional association/trade body membership (if available)
• Company profile (history/future plan)
• Project information/product list
• Financial statements of last year at least and preferably for the last three years
• Online tax verisys
• National Tax Number certificate
• Partnership deed, Copy of certificate of registration of partnership (only required for partnership concerns)
• Partnership mandate
• Memorandum & Articles of Association and Certificate of Incorporation (only required for limited companies)
• Latest form 29 certified by SECP (only required for limited companies)
• Latest form A ( (only required for limited companies if applicable)
• Board resolution authorizing borrowing (only required for limited companies)
• ISO Certification/(s)

Documents Required for Approval (part of e-CLP)

• Loan Application Form
• e-CIB Report (individuals, proprietors, partners, directors)/CIB Report (company)
• Visit report
• Business and financial appraisal report by approved company
• Age of business not less than 3 years (NTN confirming)
• Overall debt-burden not exceeding 50% of the projected cash flows for the first year
• Income estimation/salary slip (for individuals)
• Audited financial statements (last 3 years) (for businesses)
• If unaudited, then financial statements of last year at least and preferably for the last three years (for businesses)
• Projected accounts for the next years for the financing tenor (for businesses)
• Other bank’s statements of the business account(s), if available (not applicable for existing customers)
• Latest facility letters and loan utilization figure from all banks (not applicable for existing customers)
• Age of sponsor (individual/sole proprietor) not beyond 65 years at the maturity of loan
• Business not in negative list

Post Approval Documents

• Bank’s approved standard facility documentation
• Personal guarantee(s) of borrower(s)/sponsors/directors as per approved arrangement
• Facility offer letter
• Repayment schedule duly accepted by the borrower
• Post-dated cheques for the period of repayment to be kept at branch
• Insurance policies and original premium paid receipts
• Letter of hypothecation
• EPA Approval and NEQ Compliance (to be arranged from ESMS desk)
• Demand Promissory Note RP-4 (on stamp paper)*
• Undertaking RP-5 (stating that the funds shall be used for said purpose and any failure to make payments would result in automatic debit of mentioned account)*

Collateral Related Documents (if applicable)

• For all collateral based lending, documents to be finalized by legal aid and shall be obtained as per pre & post mortgage legal opinion before disbursement

*These forms are required to claim refinance from SBP.

• Bank Alfalah has been able to establish strong ties with the Small and Medium Enterprise Development Authority (SMEDA) over the past many years. However, until recently we joined hands with SMEDA’s Women Development Wing to organize a dedicated awareness session for women entrepreneurs in Lahore.
• Our core objective was to spread awareness and provide handholding through our Non-financial Advisory Services Program and disseminate knowledge about SME financing to the thriving women business community.
• Women Entrepreneurs hailing from various sectors were subsequently provided guidance on the SBP’s RF and credit guarantee scheme for Women Entrepreneurs and PM’s Kamyab Jawan Youth Entrepreneurship Scheme respectively.
• Going forward, we aim to generate leads out of such interactive awareness sessions since the participants showed keen interest and are also linked to a credible authority like SMEDA.

• Through the SME Toolkit, we have been able to increase our digital footprint which allows us to reach out to a greater audience.
• In addition to the advisory content, we also ensure that all relevant information pertaining to our products is readily available on this platform and we also have managed to curate a system to receive web requests in case someone shows any interest in the said product.
• Additionally, we regularly ensure to promote this platform through quarterly boosting on all our social media platforms.
• Multiple social media campaigns have been held in the past and we look forward to curate one while keeping women financial inclusion at the heart of it.

• CreditBook is a fintech rigorously working to build the tools for the digitization and financial inclusion of micro, small and medium business enterprises (MSMEs) in Pakistan. Their digital ledger app helps merchants digitize their bookkeeping and provides them with a free, secure and easy alternative to offline physical khatas and registers.
• Currently, we are in the process of signing a MoU with CreditBook, to step into the untouched segment and reach out to a greater business community for both men and women-owned businesses.
• By conducting market storming activities in collaboration with CreditBook, we shall be able to reach out to new markets and pitch our financial offerings, particularly the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJYES) and SAAF Scheme respectively.
• Under the umbrella of our non-financial advisory services (NFAS) we shall also be developing advisory content for small and medium businesses which shall be deployed on our dedicated online portal i.e., Bank Alfalah’s SME Toolkit.

• LadiesFund, a vehicle of Dawood Global Foundation (DGF) is an initiative to provide financial security to women and to promote and train women entrepreneurs. It aims to integrate the entrepreneurial needs based on the economic and social aspects of the local communities, with respect to greater women participation in the workforce.
• Bank Alfalah participated in the ‘Loan Day for Women Entrepreneurs’ an event sponsored by SBP to promote financial inclusion of women for LadiesFund Members at the Buraq Center, Karachi earlier this year.
• Women entrepreneurs associated with LadiesFund were facilitated in applying for financing through Bank Alfalah under SBP’s Refinance and Credit Guarantee Scheme for Women Entrepreneurs and PMKJYES.
• We simplified the Loan Application Form under this scheme by taking the concerned stakeholders on board and translated it in Urdu as well for ease of understanding.
• We intend to take forward this relationship and extend financing to the eligible women entrepreneurs associated with LadiesFund.

• Collaboration with Greenstar is a work in progress where our aim is to reach out to this segment and extend financing to low-end health workers associated with Greenstar.
• This would allow us to enter into a new streamline and target the women associated in this line of business.

• Under SBP’s National Literacy Program, we have been able to conduct numerous awareness programs to reach out to the masses.
• In the past, we have also conducted dedicated sessions exclusively for women engaged in livestock and dairy farming and we aim to plan such sessions ahead pan Pakistan.
• Our aim is to facilitate these women and brief them on the various avenues available for them to access finance.

• Mera Kaam, Meri Pehchaan is another such initiative in the works where we are extending finance to women Agri-customers.
• Promoting cluster/group financing under this initiative is a more viable approach to extend financing to farming/non-farming women entrepreneurs on social guarantee.
• Conducting awareness programs in liaison with Agri & veterinary universities for capacity building, particularly to students of food technology and veterinary services to cater to Agri based SMEs.