Question: Is Mudra Loan For New Business?

Mudra loan is extended for a variety of purposes which provide income generation and employment creation.

The loans are extended mainly for : Business loan for Vendors, Traders, Shopkeepers and other Service Sector activities.

Working capital loan through MUDRA Cards.

Can I get Mudra loan for new business?

Under the scheme, loans of minimum Rs. 50,000 and maximum up to Rs. 10 lakh are provided to start-up enterprises and small business units. MUDRA has partnered with a myriad of regional and state level banks, and Micro Finance Institutions (MFIs) in addition to other lending institutions.

Is Mudra loan available now?

Product / Offerings of MUDRA

MUDRA provides refinance support to Banks / MFIs / NBFCs for lending to micro units having loan requirement upto 10 lakh. MUDRA provides refinance support to micro business under the Scheme of Pradhan Mantri MUDRA Yojana. The bouquet of offerings of MUDRA is depicted below.

Where can I apply for Mudra loan?

Mudra loan can be availed by contacting Commercial banks, Small finance banks, RRBs, Co-operative banks, MFIs and NBFCs. Individual can also apply for Mudra loan online by filling the application form by visiting their official website. Applicant need to have a business plan to acquire a MUDRA loan.

Who is eligible for Mudra loan?

Eligibility: Anyone who runs small business enterprise is eligible to apply for mudra loan. Mudra yojana loans are given under three different categories. The first category, known as shishu (for extremely small business units) covers loans upto R 50,000.