KARACHI: The State Bank of Pakistan (SBP) has introduced a new digital platform, SMEConnect, to make it easier for small and medium-sized enterprises (SMEs) to access bank financing. The portal will enable business owners to apply for financing online without having to visit banks to initiate the application process.
According to the central bank, all SME financing applications will be received exclusively through the new portal starting November 1, 2026. The initiative aims to simplify communication between businesses and banks while making the financing application process more accessible, transparent and efficient. The platform is available in both Urdu and English.
How to Apply for Financing Through SMEConnect
Business owners seeking financing must first visit smeconnect.sbp.org.pk, review the eligibility criteria and create an account.
During registration, applicants are required to provide their full name, mobile number, email address, gender, Computerised National Identity Card (CNIC) number and password. The account will be activated after verification through a security code sent to their registered email address or mobile number.
Existing users can log in using their email address and password or continue through their Google accounts.
Business Bank Account Verification
After registration, applicants must enter the International Bank Account Number (IBAN) of the bank account primarily used for business transactions. The portal will automatically identify the relevant bank and verify the account details.
Applicants who do not have a bank account must open one before proceeding. Those maintaining accounts with multiple banks should provide the IBAN of the bank from which they intend to seek financing.
Entering Business Details and Applying for Financing
Once the bank account has been verified, applicants must provide their business information, including the business name, owner’s CNIC number, email address, nature of business, National Tax Number (NTN), registration status, business address, year of establishment, annual sales, business premises and registration authority.
After saving the information, users will gain access to their dashboard, where they can initiate a new request by selecting the ‘Apply for New Financing’ option.
Applicants must then enter the required financing details, including the type of financing, requested amount and repayment period. Islamic financing is also available among the financing options presented on the platform.
Before submission, applicants can review all the information and either save the application as a draft for completion later or proceed with the final submission.
To complete the process, users must select ‘Submit Application’, read the undertaking and agree to the stated terms. The portal will then generate an application reference containing the case ID, submission date, concerned bank and current application status.
How to Track Your Application
Applicants can monitor the progress of their requests through the ‘Track Application’ feature. The concerned bank will contact them through their registered mobile number or email address for further processing.
The approval or rejection of financing applications will remain subject to the bank’s independent assessment and due diligence. Applications supported by complete and accurate information and documentation will be processed in accordance with the SBP’s prescribed instructions.
For subsequent logins, users must enter their registered email address and password, followed by a six-digit One-Time Password (OTP). Those who forget their passwords can reset them through the ‘Forgot Password’ option.
Helpline and Support
The SBP has also provided a step-by-step video tutorial to guide users through the portal’s registration and application process.
For further information or assistance, applicants can contact the SMEConnect support team via email at **smeconnect@sbp.org.pk** or call +92 21 111 727 273.
Complaints can also be submitted through the SBP’s Sunwai portal or mobile application.
The initiative is part of the central bank’s broader efforts to improve access to credit for small businesses. The SBP has previously increased the financing limit for SMEs to Rs500 million (Rs50 crore).
