Don’t have money to start a business? Get a loan of up to Rs 20 lakh from the government’s PM Mudra Yojana!
If you want to start your own business but are stopped due to financial difficulties, the Government of India’s Pradhan Mantri Mudra Yojana (PMMY) can help you. Under this scheme, the government provides financial assistance to small and micro enterprises, so that they can start or grow their business.
Key points of Pradhan Mantri Mudra Yojana:
Launch:
This scheme was launched in 2015, to promote non-agricultural based small and micro industries.
Loan categories:
Loans are provided in three categories under the Mudra scheme:
Shishu category: Loan up to ₹ 50,000.
Kishor category: Loan from ₹ 50,001 to ₹ 5 lakh.
Tarun category: Loan from ₹ 5 lakh to ₹ 10 lakh.
Now Tarun Plus category has been added to it, in which loan up to ₹ 20 lakh is available.
Benefits of Tarun Plus Category:
This category is for those entrepreneurs who have previously taken a loan in Shishu, Kishor, or Tarun category and repaid it on time.
In this category, they are given an opportunity for additional funding.
Who will get the loan?
This scheme mainly targets people setting up non-agricultural non-corporate small and micro industries.
Application Process for PM Mudra Yojana:
Online Application:
Visit the official website: www.udyamimitra.in.
Fill in the required details and submit the application.
Offline Application:
You can apply by visiting the nearest bank branch, non-banking financial companies (NBFC), or microfinance institute (MFI).
Fill in the relevant form and submit the required documents.
Required Documents:
- Aadhaar Card.
- PAN Card.
- Business Plan.
- Bank Statement.
- Proof of loan repayment (for Tarun Plus).
Achievements so far:
More than 47 lakh entrepreneurs have benefited under the scheme.
A total loan of ₹27.75 lakh crore has been provided.
This scheme is especially helping small and new businesses to become self-reliant.
Benefits of PM Mudra Yojana:
Low interest rate: The interest rate on the loan is lower than other loan schemes.
Collateral-free loan: You do not need to provide any guarantee or mortgage the property.
Easy process: The application process is simple and user-friendly.
Business expansion: This scheme gives an opportunity to small businesses to grow.
Conclusion:
If you are dreaming of starting a new business or want to expand your existing business, then Pradhan Mantri Mudra Yojana can be a great opportunity for you. Take full advantage of this government initiative by applying on time and take your venture to new heights.
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