FWCCI to assist start-ups in lending documentation process

FAISALABAD: Faisalabad Women Chamber of Commerce and Industry (FWCCI) has approved two females for fulfilment of documentation process about loans and anybody facing difficulty in documentation can approach FWCCI, said Nighat Shahid, President FWCCI. She was addressing to the participants of ‘Documentation Session’ organized by FWCCI here on Sunday.

She said that two females for fulfilment of documentation about loans have been trained who will further educate young girls to take benefit from the Prime Minister Kamyab Jawan Program and finance schemes announced by the State Bank and other alike institutions.

She said that major problem faced by the new start up is of documentation required by the participant banks from its processing to implementation stage for loan approval. The cumbersome procedures and lengthy documentation involved barred the new start ups to apply and get approved these loans. She said that Prime Minister Kamyab Jawan Program and finance schemes of SBP are quite productive and supportive to start up new businesses and motivate our youth to opt business as career but the lengthy documentation procedures keep them away to benefit from such schemes.

She said that she has specially focused on this problem and arranged today’s documentation session. She said that almost all the commercial banks are the participating banks for these schemes and FWCCI is trying best to facilitate its members and particularly young start ups to easily get loans and take benefit of such schemes and she will continue this practice in future.

She further said that she has firm plan to start capacity building programs for women entrepreneurs and also for the young females for training programs in Digital Marketing, Web Development, Computer Application and alike programs. She said arrangement with the national and international training providers is in progress.

Naghma Alraf from First Women Bank Faisalabad briefed the participants on various cheap loans schemes announced by the SBP. She also urged to take benefit of the Prime Minister Kamyab Jawan Program. She explained in detail the documentation involved for approval of loans under such schemes. She said that for PM Kamyab Jawan, loan from Rs one lakh to Rs 25 million can be obtained on subsidized mark up. However, age limit required for applying these loans should be 21-45 years.

A question answer session was also held in which participants took part with keen interest.

Copyright Business Recorder, 2022