Get @ Mudra Loan
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 Lakh under the MUDRA scheme. There are three schemes are luanched like, Shishu under the MUDRA loan scheme provides up to Rs.50,000 to those entrepreneurs who are either in their initial stages of business or looking to start one. Kishor under the MUDRA loan offers up to Rs.5 Lakh to those businesspersons who are looking for additional funds to expand their operations. Under the Pradhan Mantri MUDRA loan arrangement, Tarun sanctions up to Rs.10 Lakh if the business owner meets certain eligibility criterions.
|Loan Amount||Maximum loan amount Rs. 10 lakh|
– Loan of upto Rs. 50,000 under Shishu
– Loan from Rs. 50,001 to Rs. 500,000 under Kishore
– Loan from Rs. 500,001 to Rs.10,00,000 under Tarun
|Processing fee||Nil for Shishu and Kishore loan, 0.5% of the loan amount for Tarun loan|
|Eligibility Criteria||New and existing units|
|Repayment period||3 –5 years|
Launched in 2015 by the Government of India, the Pradhan Mantri Mudra Yojana (PMMY) provides financial support to aspiring entrepreneurs in starting their own business. To promote women entrepreneurship in the country, financial institutions thus extend Mudra loan for women under this scheme.