MUDRA - Micro Units Development and Refinance Agency Limited    

The launch of Pradhan Mantri MUDRA Loan Scheme in April 2015, aims to provide Collateral-free Loans upto Rs. 10 Lakhs to small businesses engaged in economic activities like retail, manufacturing, trading etc.

TYPES OF MUDRA LOAN

Procedure for application of Mudra

Eligibility Criteria

• Loan applicant must be an Indian Citizen
• Loan can be availed only for micro or small scales businesses from rural areas.
• Loans can be availed by non-farm income-generating businesses in trading, manufacturing and services.
• Loan amount should be quoted under the maximum limit Rs. 10,00,000/-

Documents Required

• Identity proof, Residence proof, and Business address proof
• Income Tax Returns and Financial Statements of last three years
• Written proposal of Company or Partnership Deed
• Latest Assets and Liabilities statement and income tax returns of promoters and Guarantors.
• Rental agreement (if any)
• Registration forms of SSI/MSME, if applicable.
• Projected Financial Statements for the coming two, for cases involving Rs. 2 lakhs and above.

  Benefits of Attaining MUDRA Loan

• Finance range : Rs. 50, 000 to Rs.10,00,000/-
• No  processing fee
• Focus on small and micro level businesses
• Low Interest rates

                                                                                                                                                                                - By Harshali Ahire