JS Bank has joined hands with Social, Entrepreneurship and Equity Development (SEED), for extension of loans under the Prime Minister Youth Business Loan (PMYBL) program.
Through this partnership, JS Bank, one of the nation’s fastest growing financial institutions will work with SEED, an enterprise development organization striving to overcome social challenges, to extend financing opportunities for entrepreneurs. Individuals between the ages of 21 and 45 years will be able to apply for loans of up to PKR 2 Million at a mark-up rate of 6%.
This collaboration will pair loan extension by JS Bank with the provision of knowledge and best practices by SEED, to help advance and develop entrepreneurship in different economic and social stratums. By working with various stakeholders of the entrepreneurial eco-system, the two organizations aim to help these businesses accelerate and optimize their potential and develop the required skill set for sustainable growth.
Reflecting upon this partnership, Basir Shamsie, Deputy CEO – JS Bank stated, “Our alliance with SEED reflects our commitment of working towards the betterment of free enterprise and the nation as a whole. I am very confident that this collaboration will play a major role in overcoming the barriers faced by young entrepreneurs.”
Faraz Khan, CEO and Co-founder – SEED expressed his optimism about the future of this partnership and commented “Our association with JS Bank will create new opportunities for entrepreneurs in Pakistan. Such partnerships will help entrepreneurs bring social and economic change and help us bring best incubation and acceleration practices to Pakistan.”
Through this alliance, JS Bank is promoting economic growth and creating opportunities for sustainable development across Pakistan.