Mudra Loan is a Govt. initiated credit funding scheme to offer business loans, MSME loans, working capital loans and overdraft facility of amount up to Rs. 10 lakh to individuals, startups, business owners, MSMEs and self-employed professionals. No collateral/security is required from the borrowers by Banks/NBFCs under this scheme. The repayment tenure offered is up to 5 years with NIL to nominal processing fees and foreclosure charges.
Our Helps for get Loan under PMEGP Scheme
Creating CA Approved Project Reports
Udyam- aadhar Registration
Detail Consultation for Clients
Below mentioned are the 3 exclusive loan categories offered under Mudra Yojana along with the offered loan amount and its usage:
Eligibility Criteria?
Applicants with a minimum age of 18 years and a maximum of up to 65 years are eligible to apply for Mudra loans. The applicant should have good repayment history and should not have defaulted on any previous loan EMIs or credit card payments.
Eligible Entities?
Loans under the Mudra scheme of amounts up to Rs. 10 lakhs can be availed by the following business entities engaged only in the Services, Manufacturing, and Trading sectors:
Individuals, Self-employed Professionals, Business Owners, and Women Entrepreneurs
Startups and Micro, Small, and Medium Enterprises (MSMEs)
Small Vendors/Shopkeepers, Retailers, Traders, Small Manufacturers, and Artisans
Sole Proprietorships, Partnership Firms, Limited Liability Partnerships (LLPs), and other business entities
Collateral-free loans – No Collateral/Security is required from the borrower from any Banks/NBFCs
Low-interest rates with Nil to nominal processing fees
Concessional interest rates for women entrepreneurs
Loans covered under Credit Guarantee Schemes from Govt. of India
Can be used as Term loans, Working capital loans, and Overdraft facilities
All Non-farm enterprises, i.e. Small or Micro firms engaged in income-generating activities can avail Mudra loans
Mudra loans can also be availed by people belonging to SC/ ST/ Minority category at special interest rates by specific lenders
Passport-size photo
PAN Card
Aadhaar card
Utility Bills (Water/Electricity Bills)
Bank Passbook Front Page
Land Tax Receipt
Proof of belonging to a special category, such as SC/ ST/ OBC/ Minority, etc. (if applicable)
Last 6 months’ bank statement
Business address proof and Vintage proofs for existing enterprises
Udyam Aadhar
Project Report
Below mentioned is the list of businesses that are covered under the Mudra scheme to perform income-generating activities:
Commercial Vehicle Finance: Mudra finance for Machinery/Equipment can be used to purchase commercial transport vehicles like tractors, auto-rickshaws, taxis, trollies, tillers, goods transports vehicles, 3-wheelers, e-rickshaws, etc.
Service Sector Activities: Starting businesses of salons, gyms, tailoring shops, medical shops, repair shops, dry cleaning, photocopying shops, etc.
Food and Textile Product Sector Activities: Various activities involved in the respective sector, such as papad, achaar, ice cream, biscuits, jam, jelly, and sweets making, as well as for agriculture produce preservation at the rural level
Business activities for Traders and Shopkeepers: Setting up shops, service enterprises, trading and business activities, and non-farm income-generating activities
Equipment Finance Scheme for Micro Units: Maximum loan up to Rs. 10 lakhs for the purchase of new and pre-owned equipment or machinery
Agri-allied Activities: Activities related to businesses in agri-clinics and agribusiness centers, food & agro-processing units, poultry farming, pisciculture, beekeeping, sorting, livestock-rearing, grading, aggregation agro-industries, dairy, fishery, etc.
