Circulars/Notifications / Infrastructure, Housing & SME Finance Department  

 IH&SMEFD Circular Letter No. 06
July 19, 2018

The Presidents/ Chief Executives,
All Banks/ DFIs


Refinance Scheme for Working Capital Financing
of Small Enterprises and Low-End Medium Enterprises

Dear Sir/Madam,

This is with reference to IH&SMEFD Circular No. 11 dated December 22, 2017 on the captioned subject.

In this regard, it is advised that following process shall be followed to avail refinance under the scheme:

  • After allocation of limit, participating financial institutions (PFIs) shall approach respective office of SBP BSC (Bank) for activation of the limit. A PFI will submit WC I (Undertaking to be submitted by bank/ DFI) and WC II (Demand Promissory Note to be submitted by bank/ DFI) for this purpose equivalent to its allocated limit amount. A PFI will also indicate the amounts it intends to draw from various offices of SBP BSC (Bank) within the overall allocated limit. These documents will be required every time limit is allocated/ renewed/ revised.

  • After loan disbursement to the borrowers, PFIs will claim refinance against the same through WC III (Refinance Application Form). Borrower’s Undertaking (WC IV) will be required to be submitted along with Refinance Application Form.

Other terms and conditions remain unchanged.

Encl: Refinance Application Documents

Yours sincerely,

(Muhammad Ishfaq)
Additional Director


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