Askari Rice Finance — Askari Bank

Eligibility & Qualification Criteria

For SMEs Sole Proprietor, Partnership Firm (registered), Private Limited Company, Limited Company
Age of borrower (in case of sole-proprietorship) must be minimum 20 years, however age not to exceed 65 years at the time of application. . This criteria is not applicable, if the business concern is partnership or limited company. In partnership/limited company cases one of the partner or director should qualify mentioned criteria.
Minimum 3-year operating history of Rise Husking/polishing business, however, new ventures of established business groups or other exceptions will be looked upon case to case basis.
Market check to be obtained from at least three different sources to the Borrower and Primary Sponsor. For NTB News-VIS report also needs to be obtained.
Electricity Bill Payment history should be regular as a minimum, all electricity bills for the last six (06) months must have been paid.

Application Form for SE/ME
Copy of CNIC
Copies of firm/company registration documents
Annual / Semi annual Financials (Audited in house as per SBP Requirement)
Electricity bill as evidence of Rice mill being functional.
Copy of security documents for legal opinion etc.
Legal opinion and evaluation report by bank's approved lawyer / evaluators respectively.
Bank Statement.
An undertaking to be obtained from Borrower that the Mill Operations were not run on Commissioning basis (fully or partially) during last six months and in future till the adjustment of loan
An undertaking to be obtained from borrower that the subject financing will be used only for intended purpose.
Any other document required by Askari bank

Kumail Hassan

Manager Product Development

Askari Bank Head Office F8

City: Islamabad