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                                                                  mudra loan

 

                                      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

 

mudra loan

 

 

 

Procedure for application of Mudra

 

mudra loan

 

 

           

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