How to apply online for PM Mudra Loan 2019

All individuals who are running a small business or planning to start a new one can now apply online for Mudra Loan Scheme. Through the government’s Pradhan Mantri Mudra Yojana (PMMY), people can now get instant loan assistance easily. Under the scheme, the government provides loans up to Rs 10 lakh to non-corporate, non-agricultural small / micro enterprises by commercial banks, RRBs, small finance banks, cooperative banks, MFIs and NBFCs.
On, users can apply for any type of enterprise loan. This includes Mudra (up to Rs 10 lakh), Stand-up India Scheme for SC / ST women (Rs 10 lakh to Rs 100 lakh), SME loans (up to Rs 10 crore).
Pradhan Mantri Mudra Yojana is a Mudra loan undertaking designed to meet the financing needs of non-corporate small business units of the country. This scheme is to provide financial assistance to small businesses, which are very helpful in taking the life of Indians towards development, under this scheme any small businessman can start his business by taking a loan.
To avail the Mudra loan, all individuals can contact these lenders or can also apply online on the Udyamimitra portal. The portal is designed to facilitate MSME’s financial and non-financial services needs.

Apply Online for Mudra Loan

SIDBI subsidiary Udyamimitra supports the institution to extend credit for non-corporate non-agricultural sector income generating activities of micro and small entities. However, it is subject to enterprises whose loan requirements are below 10 lakhs. Step by step information of applying for PM Mudra loan online on Udyamimitra portal is given below:

  • First go to the official website
  • On the home page, you will see a button of Apply Here, click on it.
  • As soon as you click on the Apply Here button, a new page of registration will open in front of you.
  • Here, all people will have to tell the required loan amount, name, business address for registration. Also on the registration page you will see a button of Assess your Scheme Suitability, by clicking on it you can assess the suitability of your plan very easily.
  • Currently, registration on the portal is free of charge.

PM Mudra Yojana Loan Types

  1. Shishu Loan provides financial support of up to Rs50,000 to Indians.
  2. Kishore Loan provides financial support for an amount between Rs 50,000 and Rs 5 lakh.
  3. The Tarun loan provides financial support for an amount between Rs 5 lakh to Rs 10 lakh.

What is Udyamimitra Portal?

SIDBI’s Udyamitra portal [] is an enabling platform, aimed not only at credit delivery but also ‘end to end’ solution for handholding support, application tracking, hosting of credit plus services with multiple interfaces. Have to provide. Stakeholders (ie lenders, service providers, applicants). Also, new age lenders. Fintech, NBFC, Small Finance Bank, MFIs are taking the stage to increase the flow of credit to MSMEs.

What is NBFC (Non-Banking Financial Company)?

A non-banking financial company (NBFC) is a company registered under the Companies Act which is engaged in the business of loans and advances for MSMEs, shares / shares / bonds / debentures / securities issued by the government or local authority. Or acquisition of securities of other securities like nature, leasing, horse-trading, insurance business, chit business but any institution in it In addition to not getting the core business of agricultural activity, industrial activity, purchase or sale of any goods (securities) or someone to provide services and sales. / Purchase / construction of immovable property. A non-banking institution which is a company and the principal business of receiving deposits through lump sum or contribution in installments or in any other way, of any scheme or arrangement, is also a non-banking financial company (banking company). NBFCs are being boarded as lenders on the Udyamimitra portal.

Source : Udyamimitra Portal

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