SMEDA agree to give interest free loans to small businessman.

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The world of business and authorities of SMEDA have decided on several points, along with an offer to set up a rotating finance for supply of interest-free loans to the little and medium businesses in the provincial city, in order to boost the local economy. The offer was sealed during a conference of the Peshawar Chamber of Small traders and Industries chief executive Ehtisham Haleem with Smeda provincial head Javed Iqbal Khattak here on Thursday.

The conference mentioned suggestions for the organization of revolving fund and research and development cell and having of business quality prize to recognize the initiatives of excellent businesspersons.

About the revolving fund, Mr Khattak said that it would be utilized for offering interest free loans to the associates of the area. He said that the area would subtract 3-4 % of the whole profile to fulfill the per month management expenses of the business body. For organization of the finance, every participant will provide at the least Rs10 per day and it will be placed in a separate bank account managed by the chamber.

According to this top news declaration, payment of the fund will be performed through a panel to be informed by the chamber. The candidate must be under 60 years old and suggested by the business organization involved to be qualified for obtaining of the fund. It will be allocated on a first come, first.

It said that the candidate for a loan would require two personal guarantors and the payment would start after three several weeks of organization of the finance. It said that organization of the revolving fund would help provide probability to SMEs for getting quick accessibility financial loans.

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