Our prime minister Mr. Narendra Modi has launched the PM Mudra Loan yojana on 8th Feb 2015 and since then government providing their extending credit facility to small and micro-enterprises. Today in this post we will tell you how you can Apply for a Mudra loan online and offline both.
What is Mudra Loan Scheme?
Our small and micro enterprises are still struggling to run their business, still, they are finding loans from the banks. Those who are looking for financial support, the mudra loan yojana gave a boost to their business.
Mudra loan is actually offered under the Pradhan Mantri mudra yojana, by a commercial bank, regional rural bank and small finance, corporate banks, and also by the non-finance corporation in India.
Mudra loan provided under three different categories, which are:
- Shishu scheme (Loan up to 50,000)
- Kishore scheme (Loan up to 50,000 to 5,00,000)
- Tarun scheme (Loan up to 500,000 to 10,00,000)
If you are looking for financial support to buy new machinery for your business or you need any kind of working capital, then you can apply for mudra loan under this scheme. Let’s check it out how you avail of mudra loan and which documents are required for it.
Mudra Loan Documents Required:
- Identity Proof (Self-attested copy of Driving Licence/Voter Card/Pan Card/Passport/Aadhaar Card or any other photo Id issued by government authority.)
- Applicant 2 Recent Photograph (not older than 6 months)
- Residence proof document ( Recent Elecriticity bill/property tax receipt/Bank passbook/domicile certificate/Telephone bill etc.)
- A business quotation like Machinery or other items to be purchased
- Name of supplier/ details of machinery or item to be purchased
- Business Address proof
- Category certificate for SC/ST/OBC/Minority etc.
Steps to Apply for Mudra Loan Online:
Lets check it out step by step process to avail mudra loan online.
Step 1. Open the Mudra official website: www.mudra.org.in in your computer browser. Under the Quick Links section, there is UdaymiMitra link is given. Click on it.
Step 2. Now you will redirect to another website of UdyamiMitra. Here you find the direct option to Apply for Mudra Loan.
Step 3. After click on ‘Apply Now’ button, a new registration page will open, here you can choose any business loan category like a new entrepreneur, existence entrepreneur, and self-employed.
Now fill the form details and an OTP number generated for you provided Mobile number. Fill the OTP and your registration is successfully done.
Step 4. After this registration process, My profile form page will show, Now you have to fill your personal and professional detail over there and save & submit it.
Step 5. Then you will redirect to My Dashboard page, here you find 4 options showing.
Handholding Agency ( To go for third party service to complete the loan process on your behalf, choose this if you don’t want to complete the process by own.)
Step 6. Click on Apply now option for Loan Application Center. After this all Mudra scheme categories will show on screen. You can choose any one scheme as per your loan amount requirement.
Step 7. After click ‘Apply Now’ loan application button, Your chosen scheme center page shows. Here you can fill the loan amount and business information.
Step 8. In ‘Other Information’ section, fill your business ownership detials, previous loan details if any, mention loan purpose, current bank account details etc.
Step 9. Now upload your documents under ‘Attach Document’ section. ( Each document file size must be below 250 KB.)
Step 10. After this, accept the deceleration checkbox and submit the button. Your Mudra Loan application will be submitted and you will get a Thank you message with your application number.
After this process, you will receive application status via email and mobile number. You can also check the status via visit the official website with the help of provided application number.
This is quite straight forward process so you can easily avail for Mudra Loan to boost your business.
Now we check the other Offline option to apply for Mudra loan scheme. Let’s see the steps.
Apply for Mudra Loan Offline:
Step 1. To apply for a mudra loan via offline mode, first, you need to visit Mudra official website: www.mudra.org.in.
Step 2. Here you see all 3 categories to apply like Shishu, Kishore and Tarun Loan.
Step 3. Now click on any one scheme option, it will redirect to PMMY document kit page. Here you can download the application form to apply for mudra loan offline.
After this fill the application form details and visit your nearest bank branch along with all required document. Bank will start the process.