The Pradhan Mantri MUDRA Yojana (PMMY) launched on 8th April 2015, provides loans to small business owners up to the amount of Rs.10 Lakh.
Following are the individuals who need to know how to apply for MUDRA loan under this scheme:
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Individuals have to follow the steps mentioned below to apply for MUDRA loan:
Under the PMMY scheme, one can apply for 3 types of MUDRA loans:
Some lending institutions also provide the option of Mudra Loan Online Apply
Funds to upgrade machinery
Up to Rs. 20 lakh | Pay only interest as EMI
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Manage operational expenses
Up to Rs. 20 lakh | Flexible tenor options
Avail customized loans
Up to Rs. 20 lakh | Minimal documentation