Eligibility
Who Can Apply
- Any Indian citizen with a business plan
- Existing small businesses seeking expansion
- Street vendors, artisans, shopkeepers
- Agri-allied activities (not crop farming)
- Women entrepreneurs (priority category)
- SC/ST entrepreneurs (special sub-schemes available)
Who Cannot Apply
- Agricultural crop production businesses
- Corporate entities
- Applicants with existing loan defaults
- Non-business individual borrowers
Benefits
- Shishu: Loans up to ₹50,000
- Kishore: Loans ₹50,001 to ₹5 lakh
- Tarun: Loans ₹5 lakh to ₹10 lakh
- No collateral required
- Competitive interest rates
Documents Required
- Aadhaar Card & PAN Card
- Business proof (GST, shop registration, etc.)
- Bank statements (last 6 months)
- Income Tax Returns (if available)
- Quotations for machinery/equipment (if applicable)
- 2 passport size photographs
How to Apply
Online
- Visit mudra.org.in and select loan category
- Apply through bank's official website or Udyamimitra portal
- Fill business plan and financial details
- Submit. The bank will process it within 7 to 30 days
Offline / CSC
- Visit any public sector bank, private bank, RRB, MFI or NBFC
- Ask for PM Mudra Yojana application form
- Submit business plan with required documents
- Bank will assess and sanction within 7-30 working days
Frequently Asked Questions
The interest rate is competitive and determined by the lending institution. There is no direct subsidy, but rates are lower than informal lenders.
Related Schemes
CentralEmployment
PM SVANidhi (Street Vendor AtmaNirbhar Nidhi)
Ministry of Housing and Urban Affairs
KEY BENEFITS:
- ❖Initial loan up to ₹10,000 without collateral
- ❖Enhanced loan up to ₹20,000 on timely repayment
- ❖Further loan up to ₹50,000 for repeat borrowers
View Full Details
StateEmployment
Yuva Nidhi Scheme
Government of Karnataka
KEY BENEFITS:
- ❖₹3,000/month for degree graduates
- ❖₹1,500/month for diploma holders
- ❖Provided for up to 2 years
View Full Details