SSF Products
1. Loan Products
H. Auto Finance Loan
Product Name: Auto Finance Loan

Auto Finance is the financing facility to the borrowers to fulfill their auto need by paying a certain amount in the down payment and require financing facility from the microfinance provider. This product is considered as secured product because of the asset security financed under the product.
The auto finance facility for cars is provided by the commercial banks in Pakistan however for the other auto finance products like Riksha, Bike, Chingchi, Loaders there is vacuum in the market as there are a very less formal providers providing the finance facility in the market. However, the market is captured by informal lenders like shopkeepers, dealers, supplier with a huge rate of markup un the unstructured framework.

Purpose of loan:This loan may be taken to fulfill the auto finance demand of the below target market for the income generation activity or the personal need. The auto products Riksha, Loaders, Bike may be used for the income generation; however, the bike may be used for personal need. The loan is targeted to provide support to those entrepreneurs who have the potential to work but they have limited resources to buy their own auto product and earn the income
Loan eligibility: Age 18 – 58 years, should have a CNIC, permanent resident of the locality, independent head of household for development of existing enterprise.
Loan Amount: Rs. 20,000- Rs. 350,000.
(Based on borrower Cash Flow Analysis) Down Payment – 20% of the product Price
DownPaymentt: Bike 10% & Loader 20%
Financial Income: 26%
Emergency Fund: 1%
Loan duration: 6 to 18 months
Repayment option: up to 18 installment

- 01 Post Dated Cheque (by Borrower/Guarantor)
- 01 Reputed Personal Social Guarantee (Not Blood Relative)

- Original Registration Documents
Disbursement: To individual

Required Documents:

1 Original CNIC Snapshot of the Borrower
2. Recent Snapshot Online at the time of Appraisal
Signed and stamped NOC from Employer (For Salaried Only)
3. Last month Salary Slip of the borrower duly signed by Employer (For Salaried Only)
6. Last 6 month bank statement (If bank account holder) (For Salaried Only)

For Guarantors
1. Original CNIC Snapshot of the Guarantor
2. Recent Snapshot Online at the time of Appraisal
3. Last 6 month bank statement (If bank account holder)

4. One Post Dated Cheque

© 2023 SAFCO Support Foundation. All Rights Reserved

Last Updated Website as of 30th June 2023

SAFCO Support Foundation - SSF