What is a Mudra loan?

A Mudra loan is a loan that is offered to micro-units under the Pradhan Mantri Mudra Yojana (PMMY) scheme. Micro-units are defined as businesses that have an investment of up to Rs. 10 lakhs in manufacturing or processing and up to Rs. 5 lakhs in trading or services.

What is a Mudra loan?

Any individual or business entity that meets the following criteria is eligible for a Mudra loan:

• Indian citizen
• Aged between 18 and 65 years
• Owns a micro-unit

What are the different types of Mudra loans?

There are three types of Mudra loans:

• Shishu loan: Up to Rs. 50,000
• Kishore loan: Rs. 50,001 to Rs. 5 lakhs
• Tarun loan: Rs. 5,00,001 to Rs. 10 lakhs

What can I use a Mudra loan for?

Mudra loans can be used for a variety of purposes, including:

• Setting up a new micro-unit
• Expanding an existing micro-unit
• Purchasing machinery and equipment
• Working capital requirements

How do I apply for a Mudra loan?

You can apply for a Mudra loan through any bank, non-banking financial company (NBFC), or micro-finance institution (MFI). The application process is simple and straightforward. You will need to provide your personal and business details, as well as a business plan.

What are the benefits of Mudra loans?

There are a number of benefits to Mudra loans, including:

• Affordable interest rates
• Flexible repayment options
• Government support
• Easy access to credit

If you are a micro-unit owner, don’t miss out on this opportunity to grow your business with a Mudra loan. Apply now!