KARACHI: HBL is providing collateral-free financing at subsidized markup rates to facilitate the Small and Medium Enterprises (SMEs) that are considered to be the key-drivers of the economy. The initiative falls under the Government of Pakistan’s recently launched ‘SME Asaan Finance’ (SAAF) scheme. It is designed to provide the SMEs with enhanced access to formal finance in a more convenient and seamless manner from the banks operative in the country.
Through HBL SAAF Finance, the Bank will support the SMEs, providing them with efficient financing solutions. This initiative will enable small and medium enterprises to expand their business through easy and convenient loan processing, with minimal documentation requirements, and a markup rate as low as 9 percent.
This will accelerate the Bank’s agenda to shift its focus from ‘collateral-based lending’ to ‘cash flow-based lending’, with an emphasis on supporting the SMEs in the country. This initiative will result in clients getting easy access of credit for new businesses at highly subsidized rates.
Commenting on HBL SAAF Finance, Muhammad Aurangzeb, President & CEO – HBL said, “We believe that this landmark initiative will transform the SME landscape of Pakistan. It is in line with HBL’s commitment to fostering growth of the SMEs and creating opportunities, especially for small businesses, through efficient and fast loan processing. The scheme will also enable HBL to increase its footprint in the SME sector as the Bank plays its part in driving the national agenda of financial inclusion in the country.”
Copyright Business Recorder, 2022
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