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Among SBP’s numerous refinance schemes, SBP has a refinancing facility for modernization of Small & Medium Enterprises (SMEs) as a part of its overall strategy to focus on the development of SME sector in the country.
SMEs play an important role in creation of employment opportunities, economic growth and poverty reduction. In order to encourage SMEs to modernize their factories for producing quality products and to meet their power shortages, SBP had introduced ‘Refinance Facility for Modernization of SMEs’.
This scheme is mainly to provide financial support to selected SME sectors. The borrower is disbursed funds under this scheme to purchase new imported / local plant & machinery for Balancing, Modernization and Replacement (BMR) of existing units / projects or setting up of new units. The facility is available for maximum period of ten years including six months grace period. Mark-up is also subsidized by SBP. In addition, financing for import / local purchase of new generators upto a maximum capacity of 500 KVA is also eligible under the scheme.
Principal amount of loan is repayable in equal quarterly / half yearly installments after prescribed grace period, if any. Mark-up is payable on quarterly basis and is charged at a flat rate of 6.00% per annum regardless of tenor. The Tenor of this loan is upto 10 years.
SME Clusters / Sectors eligible for financing under the Scheme include:
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