SBP opens single digital portal for SME loan applications

The State Bank of Pakistan has launched SMEConnect, a centralised digital portal through which small and medium enterprises will apply for financing from banks and development finance institutions, and from 1 November 2026 all such applications must be filed through it, Business Recorder reported.

The portal, available at smeconnect.sbp.org.pk, is intended to give businesses one place to seek credit instead of applying separately at each institution. According to TechJuice, applicants who go to a bank branch will be guided by staff to submit the form digitally, and those who start an application on a bank's own website will be redirected to SMEConnect.

The central bank has withdrawn Regulation R-6 of the Prudential Regulations for Small and Medium Enterprise Financing with effect from the same date. That rule had required banks and DFIs to let applicants apply for financing digitally.

According to the SBP, applicants will be able to track the status of their application in real time and, if it is rejected, see the reasons for the rejection. A live dashboard will show the regulator applications received, processed, approved, disbursed and rejected, both at the level of individual banks and DFIs and across the industry.

Banks and DFIs have been instructed to display the SMEConnect link prominently on their websites and mobile apps, to use all marketing channels to raise awareness of the portal, and to ensure the change is in place by 1 November. TechJuice reported that a tutorial video is available on the portal.

The SBP said in its announcement that the launch reflects its commitment to financial inclusion, to supporting entrepreneurship and to strengthening SME financing for inclusive economic growth. The reports did not carry figures on current SME lending, the number of businesses expected to use the portal, or the size of loans available.

Separately, Dawn reported that a committee constituted by Prime Minister Shehbaz Sharif will submit a comprehensive plan within four weeks to reorganise the Small and Medium Enterprises Development Authority, expand business support and improve access to finance for micro, small and medium enterprises. The committee, chaired by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, observed at a meeting on Tuesday that SMEs needed easy access to finance, business advisory services and institutional support.