How to apply for Mudra loans online: Are you running a small business or planning to start a new one?
How to apply for Mudra loans online: Are you running a small business or planning to start a new one? You can easily get quick credit support through the government’s Pradhan Mantri Mudra Yojana (PMMY). Under the scheme, loans up to Rs 10 lakh are provided to non-corporate, non-farm small/micro enterprises by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. To avail the Mudra loan, you can approach these lenders or even apply online through Udyamimitra portal.
Udyamimitra.in is a digital offering of SIDBI. It is an interactive portal set up to facilitate the financial and non-financial service needs of MSMEs by enhancing the ease of access. On Udyamimitra.in, users can apply for any type of enterprise loans, including Mudra (up to Rs 10 lakh), Stand-Up India Scheme for SC/ST an Women (Rs 10 lakh to Rs 100 lakh), SME loans (up to Rs 10 crore).
Here we are explaining how to apply for Mudra loans online through Udyamimitra.in portal.
First, visit Udyamimitra.in website. Scroll down the home page. You will find a box on “Mudra loans”. Click on the box.
A new page “https://www.udyamimitra.in/MudraLoan” will open when you click on the box mentioned above. On this page, you can find all information about the Mudra loans, which is provided in three categories:
1. Shishu – Loans up to Rs 50,000 for entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.
2. Kishor – Loans up to Rs 5,00,000 for entrepreneurs belonging to either those who have already started their business and want additional funds to mobilize their business.
3. Tarun – Loans up to Rs 10 lakh for entrepreneurs meeting the required eligibility conditions.
Scrolling down “https://www.udyamimitra.in/MudraLoan” page, you can find find the link “Click here to apply”. It will redirect to a new page where you need to provide certain information like the amount of loan required, name, business address etc. for registration. On this page, you can also “Assess your Scheme Suitability”.
After registration, you can apply for the loan. Your application will be viewed by many lenders for credit support. You can also apply to your “Preferred Lender”.
Before applying for the loans, you should view the checklist. A link for this is provided on “https://www.udyamimitra.in/MudraLoan”
In case you find it difficult to file application, the Udyamimitra portal will help you connect with the correct person/agency to apply for the loan. The service offered by the agency or the person may be chargeable. For support, you will have to fill basic personal details with request for agency/person on the Udyamimitra portal.