What is Mudra loan
Mudra loan is a financial aid of up to Rs. 10 Lakh provided by the Micro Units Development and Refinance Agency to businesses in the non-corporate, non-farm, trading and manufacturing sector.
Our MUDRA Loan services help entrepreneurs access essential funding for their businesses. We offer personalized consultations, application assistance, documentation support, and lender liaison services, ensuring a smooth loan approval process and effective financial planning for your business growth.
Eligibility for Mudra loan
The loans under the PMMY scheme can be availed by small businesses for commercial purposes, as listed below.
- Purchasing autos, cars, two-wheelers or any other vehicle
- Working capital
- For plant and machinery
- Revamping or remodelling business space
Mudra also operates a unique refinance scheme for female entrepreneurs to empower women in business, called Mahila Uddyami Scheme.
Mudra loan categories
Mudra loan is granted under three categories, depending on the loan amount needed to grow your business.
| Shishu | Kishore | Tarun |
| Covering loans up to Rs. 50,000/- | Covering loans above 50,000/- and up to Rs. 5 Lakh | Covering loans above Rs. 5 Lakh and up to Rs. 10 Lakh |
How to apply for Mudra loan online
Businesses can apply for Mudra loan via the official website of Commercial banks, RRBs, small finance banks, MFIs and NBFCs.
To register for the Mudra loan, follow these steps:
- Download the loan application form from the bank’s website
- Fill in the required details
- Submit the form along with the necessary documents, as mentioned below
- Proceed with the formalities as directed by the bank representative
- The bank will approve and disburse the loan amount after processing and verifying the loan application form and attached documents,
Documents required to apply for Mudra loan
In order to successfully apply for Mudra loan, applicants must attach a copy of the following documents along with the application form.
- Comprehensive business plan
- Duly filled application form that can be downloaded from the bank’s website
- 2 recent passport-sized photographs
- Proof of Identity; this may be your passport, voter’s ID card, driving license or Aaadhar card
- Proof of age or date of birth
- Proof of address
- Last 6 months’ bank statement
- Special category proof in case the applicant belongs to SC/ST/OBC or any other special category.