Micro Enterprises play an important role in employment creation and income generation. Keeping this in view, the Karakoram Cooperative Bank has introduced a microenterprise financing scheme. This scheme would, hopefully, play a great role in income generation and reducing unemployment. This scheme will cover a wide range of enterprises suiting the local environment, resources and talent
Agro-based businesses like fruit processing, orchards/ fruit nurseries, land reclamation, fishponds, poultry farms, dairy farms etc.
Furniture manufacturing & supplies.
Installation of service stations, auto Workshops, Auto stores.
Net cafe, Hardware stores, I.T Clinics and related business.
Establishment of Medical & pharmaceutical stores.
Construction of shopping centers.
Establishing of printing press.
Readymade Garment and cloth shops.
Gems jewelry cutting and polishing of semi precious stones business.
Carpet, Patti/shawls weaving and handicrafts.
Water Filtration plant/bottling & packaging.
LPG distribution outlets.
Franchises, Distribution and wholesales business.
The person/persons applying for Microenterprise Finance should either be a bonafide resident(s) of Gilgit-Baltistan or have permanent and established business connection in the areas.
He/she should be a sane person of 21 – 65 years.
He/she is not a defaulter of any other financial institution. (e-CIB).
He/she has not otherwise been disqualified for availing loan or declared bankrupt by any Court.
He/She is not the loaned of any other branch of KCB.
He/She himself/herself must have the experience of relevant field/project or declared his/her prospective management team.
Max Limit and Tenure
Rs. 5 million for Plastic free GB related Business and Rs. 2 million for others.
05 years (3 months grace period)
KIBOR +5% per annum subject to change .
The borrower will have to contribute 30% as equity.
Tangible securities such as land/building, term deposit certificates, Defense saving certificates or lien of any other deposit held with the bank. Security of landed property will be accepted at a margin of 30%.
Half yearly repayment schedules will be issued at the time of disbursement of the loan. Borrower should acknowledge the receipt of a copy of repayment schedule.
All Microenterprise financed under this scheme will comprehensively be insured by the borrower through an insurance company appearing on the panel of the bank.
End use verification
In order to ensure proper utilization of the loan, end use inspections will be conducted by the authorized officers of the bank at regular intervals.