Published On: Thu, Jan 2nd, 2014
Published in Category: Islamabad

Guarantor’s conditions eased for business loan scheme

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ISLAMABAD: On the directives of the Prime Minister‚ guarantor’s conditions for business loan scheme have been eased, media reported on Wednesday.

According to reports, now any person including blood relatives and family member having net worth of 1.5 times the loan‚ can give guarantee.

Any grade-15 or above government officer with eight or more years remaining services can be a guarantor.
More than one person with cumulative net worth of more than 1.5 times of the loan can give guarantees on single loan application.
Anyone with net worth more than 1.5 times the loan can give his own guarantee.

The condition of the applicants’ bank account in National Bank of Pakistan has also been waved off and now the applicants’ bank account can be in any bank.