SBP launches SMEConnect portal to simplify online bank financing for small businesses

ISLAMABAD: The State Bank of Pakistan (SBP) has introduced a new digital platform, SMEConnect, to simplify the process of obtaining bank financing for small and medium-sized enterprises (SMEs).
Under the new system, all SME financing applications will be received exclusively through the SMEConnect portal from November 1, 2026, allowing business owners to apply for loans online through a few simple steps.

The portal connects businesses with banks on a single platform and is available in both Urdu and English. Applicants can create an account, verify their business bank account, provide business details and submit financing applications to their preferred bank.

The SBP has also shared a step-by-step video tutorial explaining how to use the platform, available at smeconnect.sbp.org.pk.

How to Apply for SME Financing Through SMEConnect
The application process involves five main steps, enabling eligible business owners to submit financing requests online.

Step 1: Check Eligibility and Create an Account
Applicants must first visit the SMEConnect portal and review the eligibility criteria and application process.

Existing users can log in using their registered email address and password or continue through their Google account.

New users must click on the “Please Register” option and provide their full name, mobile number, email address, gender, Computerised National Identity Card (CNIC) number and password.

After accepting the terms and conditions, applicants will receive a security code through email or mobile phone to complete registration.

Step 2: Verify Your Business Bank Account
After registration, applicants must enter the International Bank Account Number (IBAN) of the bank account primarily used for business transactions.

The portal automatically identifies the bank through the IBAN and verifies the account details.

Business owners without a bank account must first open one before proceeding with their financing application.

Those maintaining accounts with multiple banks can enter the IBAN of the bank from which they intend to obtain financing.

Step 3: Enter Business Information
Once the bank account is verified, applicants must provide their business details, including:

Business name and owner’s CNIC number
Business email address
Nature and legal status of the business
National Tax Number (NTN)
Business address
Year of establishment
Annual sales
Business premises details
Registration authority
After entering the required information, applicants must click “Save & Continue”, review their business profile and confirm the details.

The portal will then direct users to their dashboard, where they can view draft, submitted, under-review, approved, rejected and disbursed applications.

Step 4: Apply for Bank Financing
Applicants can start a new financing request by selecting the “Apply for New Financing” option on their dashboard.

The application consists of three sections: business information, financing details and final review.

In the financing section, applicants must provide the type of financing required, requested loan amount and repayment period.

The portal also offers Islamic financing as one of the available financing options.

Step 5: Review and Submit the Application
Before submission, applicants must carefully review all the information entered in the application.

Those who are not ready to submit can save their applications as drafts and complete them later.

To submit the request, applicants must click “Submit Application”, read the undertaking and select “Agree & Submit”.

Once submitted, the portal generates a reference number containing the case ID, submission date, relevant bank and current application status.

How to Track Your Financing Application
Applicants can use the “Track Application” option to monitor the progress of their financing requests.

The relevant bank will contact applicants through their registered mobile number or email address for further processing.

The SBP has clarified that approval of financing applications remains subject to the respective bank’s assessment and evaluation.

Banks will assess applications in accordance with applicable SBP instructions and requirements.

SMEConnect Helpline and Contact Details
Business owners seeking assistance regarding the portal or SME financing can contact their respective banks or the SBP through the following channels:

Contact Details Information
Official Portal smeconnect.sbp.org.pk
Email smeconnect@sbp.org.pk
Helpline +92 21 111 273 727
Languages Urdu and English
Application Deadline No deadline specified; exclusive portal use begins November 1, 2026
Applicants can also use the SBP’s Sunwai portal or mobile application to register complaints.

The launch of SMEConnect is part of the central bank’s efforts to expand access to credit for small and medium-sized businesses.

The SBP has also previously increased the financing limit for SMEs to Rs500 million, or Rs50 crore, as part of measures aimed at supporting business growth and improving access to formal banking facilities.

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