What are the documents required for Mudra Loans?

The Pradhan Mantri Mudra Yojana (PMMY) provides loans of up to Rs. 10 lakh to micro and small enterprises in the non-corporate and non-farming sectors. Borrowers are required to furnish a specific set of documents to avail funding. Here is a comprehensive list that you can refer to.

To apply for a loan under the Pradhan Mantri MUDRA Yojana (PMMY), applicants must provide documents to verify their identity, address, business ownership, and financial background. Below is a detailed list of required documents based on general and specific loan categories:

General documents required for all Mudra Loan applicants:

• Proof of identity: Aadhaar card, PAN card, Voter ID, driving licence, or passport.
• Proof of address: Aadhaar card, Voter ID, driving licence, passport, or recent utility bills.
• Proof of business: Ownership documents, business address proof, or establishment certificate.
• Additional documents: Caste certificate (for reserved categories), bank statements, income certificates, IT returns, or Form 16 verified by a chartered accountant.

These documents ensure timely processing and approval of loans under the MUDRA scheme launched by the Government of India. Before you begin, it's a good idea to check your business loan eligibility so you're well-prepared with financing options if your business needs exceed the limits of a Mudra Loan.

Additional documents required for specific Mudra Loan types:

For vehicle loan under PMMY:

• Vehicle loan application form
• Two recent passport-sized photographs

For business instalment loan under PMMY:

• Loan application form
• Two passport-sized photographs
• Trade references

For business loan under PMMY:

• Completed loan application form
• Bank statements for the past 12 months

For partnerships or registered companies:

• Partnership deed or memorandum and articles of association

Providing complete and accurate documentation helps ensure smooth disbursal and approval under the Mudra Yojana. If you’re looking to expand your business or meet urgent financial needs, you can also apply for our business loan with minimal paperwork and faster approvals.

The documents required for startup Mudra Loan applications generally include standard KYC and business documents, along with a business plan; Shishu loans up to Rs. 50,000 may be more accessible to new businesses.

• Shishu: Up to Rs. 50,000; applicants generally need KYC, bank account, address, and business-related documents.
• Kishor: For loans above Rs. 50,000 and up to Rs. 5 lakh, a business plan or project report may be required, along with financial and business documents.
• Business plan: Should outline the business model, funding requirement, projected income, expenses, and repayment plan.
• Business proof: Registration, licences, quotations, or other documents may be requested based on the business.

New businesses without an ITR history may face stricter scrutiny, additional documentation, or lender-specific eligibility checks.