JS Payroll Financing, based on State Bank’s Refinance Scheme for Payment of Wages & Salaries, is a loan facility for businesses to run payroll cycles smoothly at a markup of only 5% (Markup rate of 3% for Tax filers).This financing facility has been especially designed so that the wages and salaries of workers / employees are covered for three months (April to June).
|Category||Wage Bill for 3 Months||Loan Limit||Maximum Loan Amount|
|A||Less than or equal to Rs. 500 million||100% of column 2||Rs. 500 Million|
|B||More than Rs. 500 million||Rs. 500 million or 75% of column 2, whichever is higher||Rs. 1,000 Million|
Risk Sharing Facility by State Bank of Pakistan
Government of Pakistan has approved budgetary allocation for ‘Risk Sharing Facility for State Bank of Pakistan (SBP) Refinance Scheme to Support Employment and Prevent Layoff of Workers’. Under the scheme businesses with maximum sales turnover of upto Rs 2 billion, can avail financing for Apr – Jun 2020 Salaries & Wages of their Employees against 60% collateral on principal and markup thereon.