5 Ways to Get Business Loans for Women in Pakistan

Women in Pakistan face many challenges when trying to start their own businesses. Accessing business loans can be an important part of the process. In recent years, there has been an increase in business loans specifically designed to help women start businesses. So today we will discuss 5 Ways to Get Business Loans for Women in Pakistan.

These loans have made it a lot easier for women to start businesses, especially in developing countries like Pakistan. With the right information, any determined woman can find a loan that will help her to get started in the business world.

This article contains the top five ways to get business loans for women in Pakistan. Other parts of the globe as Pakistani women.

Pakistan Women Entrepreneurs Association

The Pakistan Women Entrepreneurs Association is a non-profit organization that provides business loans to skilled women.

The association has relationships with various banks and can help women secure loans in less than seven business days. This is the average time for other banks.

Furthermore, the loans have competitive interest rates and can be accessed via mobile phone.

WEPA has helped more than 15,000 female entrepreneurs in Pakistan turn their ideas into reality In just 4 years.

Through this organization, thousands of Pakistani women have been able to grow their businesses from simple street stalls or small kiosks to large supermarkets and furniture stores.

If you want a chance to have a successful business in Pakistan, apply for one of these girls’ business loans today!

Department of Small and Medium Enterprise Development

The Small and Medium Enterprises Development Authority is a government organization that provides loans to women in Pakistan.

It was established by the Pakistani government in 1993 and offers loans ranging from PKR 30,000 to PKR 500,000.

Loans are loaned at an interest rate of 12% /year and have a repayment term of 5 to 10 years.

These sites offer business loans ranging from PKR 50,000 to PKR 5 million. Banks can also offer online business loans to women if they meet certain criteria.

Applicant must have a minimum net worth of PKR 1 million or a monthly income of at least PKR 25,000 to qualify for a Loan.

National Bank of Pakistan

The National Bank of Pakistan provides microfinance and business loans to women in Pakistan. The National Bank of Pakistan also has a loan program for women who are looking to start their own businesses and need capital.

They offer a wide range of loan products including short-, medium- and long-term loans, agricultural loans, trade finance, etc.

To apply, the applicant must be a citizen of Pakistan or have been granted residency status by the local government.

The applicant must be able to show evidence that they have conducted some research on their proposed venture.

Provide a clear schedule for activities and budgets; Apply the form with all required documents.

Paying a non-refundable fee of 10% of the borrowed amount as an initial payment will not be deducted from any future payments.

Akhuwat Foundation | 5 Ways to Get Business Loans for Women in Pakistan

Akhuwat also has an incubator program that offers a monthly stipend of PKR 50,000. It helps female entrepreneurs as they start their businesses.

So this foundation provides legal services, startup support, and advice to Pakistani women trying to become entrepreneurs.

Akhuwat’s goal is not only to make it easier for women in Pakistan. But also to create more jobs and opportunities.

Akhuwat has established a dedicated bank for women run by women, with the goal of becoming self-sufficient so that they can offer other products and services to the public.

Foundation Kashf | 5 Ways to Get Business Loans for Women in Pakistan

Pakistan has a thriving microfinance industry, with more than 400 domestic and international microfinance institutions and a market of 4.2 million borrowers.

The Kashf Foundation, a non-profit organization based in Karachi, Pakistan is working to level the playing field by providing interest-free loans to female entrepreneurs with flexible repayment terms.

They have provided more than 1.5 million loans totaling more than $100 million since 2005 – each loan averaging around $500. The healthcare, education, and beauty services sectors are some of the most common ones using these loans.

Pros and cons of business loans for women

  • Pros: The loan will cover start-up costs.
  • Cons: The loan will have to be repaid with interest, which can cause financial problems.
  • Another downside is that you may not get enough money because you need more than the bank offers.
  • You may also not be eligible as banks often prefer men who have made a name for themselves in their careers over women who lack experience or qualifications.
  • Pros: If you successfully set up your business with this grant, it is likely that they will fund other projects later.
  • Cons: You’ll need to provide collateral like property or assets worth at least 150% of what you are borrowing plus pay expensive fees to get approved for most loans.
  • One downside is the time it takes to get a decision from the lender on whether you will receive funding.
  • If your request is denied, there is no guarantee they will tell you why; but if they tell you why that information can help you improve your application next time for a better chance of being accepted.
  • Most people looking for business loans for women in Pakistan find success by reaching out to friends and family before considering traditional loan options like credit cards or short-term loans.

FAQs | 5 Ways to Get Business Loans for Women in Pakistan

Top 3 platforms to get business loans in Pakistan?

Akhuwat, Kashaf Foundation, and Pakistan Women Entrepreneurs Association are the top 3 platforms for business loans in Pakistan.

How many business loans can women get from the Akhuwat Foundation?

The Akhuwat Foundation lends business-women PKR 50,000 as a monthly allowance, which is interest-free. If you liked this article, please share it with others on Facebook, WhatsApp, or any other platform.