New SBP Website for Business Loans Launched

The State Bank of Pakistan (SBP) has introduced SMEConnect, an online portal designed to facilitate small and medium enterprises (SMEs) in applying for business loans. Available at smeconnect.sbp.org.pk, SMEConnect aims to streamline the loan application process, enhance accessibility, and increase transparency in SME financing across Pakistan.

The platform offers real-time tracking of application statuses and provides reasons for rejection, if applicable. Additionally, SMEConnect features a live dashboard that enables the SBP to monitor all SME financing applications and their progress in real time. This includes data on applications received, processed, approved, disbursed, and rejected at both individual bank and DFI levels and across the industry as a whole.

Effective from November 1, 2026, all SME financing applications will exclusively be processed through SMEConnect. Banks and development finance institutions (DFIs) are required to direct applicants to the platform or face consequences. The SBP has advised all financial institutions to prominently display the SMEConnect link on their websites and ensure that their SME teams and field staff are well-informed about the platform to effectively assist applicants.

To assist applicants, a tutorial video is available on the SMEConnect portal. This initiative is part of the SBP's ongoing efforts to expand credit access to small businesses. Recently, the central bank raised SME financing limits to up to Rs. 500 million and released draft prudential regulations for SME financing, inviting public consultation.