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MUDRA Loans

Pradhan Mantri Mudra Yojana (PMMY) is a scheme set up by the Government of India (GoI) through MUDRA (a subsidiary of SIDBI) that helps in facilitating micro credit upto Rs. 10 lakh to small business owners. MUDRA supports Financial Intermediaries to extend loans to the non-corporate, non-farm sector income generating activities of micro and small entities with credit needs upto Rs. 10 lakhs). The interventions have been named 'SHISHU', 'KISHOR' and 'TARUN' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur.

Shishu (Covering loans upto Rs. 50,000/-)

 

This stage would cater to entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.

Kishor (Covering loans upto Rs. 5,00,000/-)

 

This section of entrepreneurs would belong to either those who have already started their business and want additional funds to mobilize their business.

Tarun (Covering loans upto Rs. 10,00,000/-)

 

If an entrepreneur meets the required eligibility conditions, he/she could apply loan for upto Rs.10 lakhs. This would be the highest level of amount that an entrepreneur could apply for a startup loan.

 

Basic Eligibility criterion

The business should be either one of the following:

  • Small manufacturing enterprise
  • Shopkeepers
  • Fruit and Vegetable vendors
  • Artisans
  • 'Activities allied to agriculture', e.g. pisciculture, bee keeping, poultry, livestock, rearing, grading, sorting, aggregation agro industries, diary, fishery, agriclinics and agribusiness centres, food & agro-processing, etc. (excluding crop loans, land improvement such as canal, irrigation and wells).

 

Fact Box

The loans under MUDRA scheme can be availed only through banks and lending institutions which include:

  • Public Sector Banks
  • Private Sector Banks
  • State operated cooperative banks
  • Rural banks from regional sector
  • Institutions offering micro finance
  • Financial companies other than banks

 

Apply for MUDRA Loan  

You can also apply for Mudra Loan online on “Udyamimitra” Portal (www.udyamimitra.in) by registering yourself and your application shall be viewed by many lenders for credit support.

Apply here for Registration

 

Finding Difficult in Filling Application?

Form Filling Diffcult Image

Finding difficult in filling application…. Don’t worry … the portal will help finding the correct person / right agency to fill the form on your behalf. All you need is to fill in basic personal details with request for agency / person (fees may be charged by the agency / person) on udyamimitra portal. This facility is called as HAVE (Handholding in a virtual Environment). So, if you are planning to set up and intend to apply for loans

More questions?

Your enquiry (as an applicant, Handholding agency or bankers) can be aptly handled at FAQ (Frequently Asked Questions) section.

Or

Call Us at National Toll Free Number 1800 180 1111/1800 11 0001

STAND-UP INDIA

What is Stand-Up India scheme

Stand-Up India (SUI) scheme for financing SC/ST and/or Women Entrepreneurs has been launched by Hon’ble Prime Minister (PM) on April 05, 2016.

The objective of the SUI scheme is to facilitate bank loans between Rs.10 lakh and Rs. 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur.

 

Eligibility

  • SC / ST and /or Women entrepreneurs, above 18 years of age
  • Loans under the scheme is available only for Green Field Projects. Green Field signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
  • Borrower should not be in default to any Bank / Financial Institution.

 

 

Micro Small and Medium Enterprises (MSMEs)

So, you have decided to be a job giver – An Entrepreneur

Applying for a loan at a physical location, means that you are approaching just one lender. When you apply for a loan in person, you may need to book an appointment. You could be waiting in a queue. You may have to travel for a while, to reach the lender’s physical premises.

Remember that business loans can be used for setting up new enterprise or stepping up (expansion, diversification, modernization, technology upgradation). These can be for the following:

  • Acquisition of factory, land and construction of building spaces,
  • Purchase of Plant and Machinery including lab equipment, testing equipment, furniture, electric fittings, etc
  • Meeting working capital requirements, like raw materials, stock-in-progress, finished goods, etc
  • Trade Finance (Bill discounting) – for paying the creditors, while awaiting payment from debtors
  • Launch of new product range, expansion of business, warehousing need, credit for marketing and advertising purpose
  • Additional monitory assistance for any eligible purpose.

It’s good that you have made up mind for applying business loan online. You will have choices of wider range of lenders (Banks / NBFCs / SFBs/ FinTechs) who can access your application and according to your geographic location, the nearest lender may approach you or a fintech from another city may also touch base you.

This means, you can apply online 24/7. You can apply even in your spare time at leisure. If you have your budget / documents / information ready, you will find the application forms are easy to fill in.

Click Here to Register Yourself to apply for MSME Loan

Understand MSMEs

MSME (Micro, Small & Medium Enterprises) are classified in two ways:

 

  • Manufacturing Enterprises engaged in the manufacture or production of goods pertaining to any industry or deploying plant and machinery in the process of value addition to the final product having a distinct name or character or use; and

  • Service Enterprises engaged in providing or rendering of service

 

The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery and Service Enterprises are defined in terms of investment in equipment.

Let’s understand it in a better way

 

  Enterprises

  Manufacturing Sector

  (Investment in plant & machinery)

  Service Sector

  (Investment in equipment’s)

  Micro

  Upto Rs. 25 Lakh

  Upto Rs. 10 Lakh

  Small

  More than Rs. 25 Lakh and Upto Rs. 5 Crore

  More than Rs. 10 Lakh and Upto Rs. 2 Crore

  Medium

  More than Rs. 5 Crore and Upto Rs. 10 Crore

  More than two crore rupees but does not exceed    five crore rupees

 

Finding Difficult in Filling Application

Need not to worry the portal will help finding the correct person / right agency to fill the form on your behalf. All you need is to Click here and fill in basic personal details with request for agency / person (small amount of fees may be charged by the agency / person). This facility is called as HAVE (Handholding in a virtual Environment).

Subsidies and incentives are provided by the Government of India

Various Subsidies and incentives are provided by the Government of India to promote a vibrant business. For any entrepreneur / promoter setting up a new startup or having an established business, it is important to know about these subsidies and incentives which can be availed while incurring capital expenditure to reduce capital cost, lessen interest burden and to achieve break-even faster. So, it’s the right place to Click for various subsidy schemes

No collateral security?

Government of India and SIDBI have set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Also, National Credit Guarantee Trustee Company (NCGTC) has been set up by the Government of India to act as the Trustee to operate the Credit Guarantee Funds for Educational Loans, Skill Developments Loans and any other funds to be set up from time to time. You can choose to avail the benefits of these Guarantees based on your loan needs through the Lenders.

 

Udyog Aadhaar (UA)

MSMEs are required to obtain Udyog Aadhaar Memorandum (UAM) which is for running units. It is not required for upcoming units. For registering yourself as a MSME under UAM, you can visit the following web link: Click here for Udyog Aadhaar Memorandum (UAM) Registration

 

Facing Liquidity Problems

MSMEs face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. The problem of timely realization of receivables persists despite the fact that the MSMED Act, 2006 mandates payments to MSMEs be made within 45 days of acceptance of goods and services.

TReDS is an online electronic institutional mechanism for facilitating the financing of trade receivables of MSMEs through multiple financiers. The TReDS Platform will enable discounting of invoices/bills of exchange of MSME Sellers against large Corporates including Govt. Departments and PSUs, through an auction mechanism, to ensure prompt realization of trade receivables at competitive market rates.

Receivables Exchange of India Ltd (RXIL), is a joint venture promoted by Small Industries Development Bank of India (SIDBI) and National Stock Exchange of India Limited (NSE). RXIL operates the Trade Receivables Discounting System (TReDS) Platform.

MSMEs benefit due to timely payments in a transparent mechanism at very competitive pricing. Assured of timely cash flows ensures better quality of products and processes in the long run for MSME sector

 

me4WE initiative by SIDBI

A group of women employees of SIDBI and some successful women entrepreneurs have volunteered to help women entrepreneurs approaching the portal as part of the me4WE (mentor enablers for women entrepreneurs).

Our Mentors are here in Voluntary Women club to help you in each and every step. To get in touch with them register / login to the portal. Please click here for (Login/Registration).

 

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Certified Credit Counsellor (CCC)

HAD IT BEEN SOMEONE WHOM WE COULD TRUST FOR CREDIT ACCESS, GUIDANCE AND MENTORING, WE COULD HAVE REALIZED OUR DREAMS FASTER

 

Be happy Go for digital Credit Connect through Counsellors and embrace the fascinating World of Entrepreneurship

SIDBI leverages its 26 years of exclusive experience in MSME Financing and development to launch another strategic solution for aspirant entrepreneurs. The present basket of 17000+ handholding agencies shall now also have a pool of Certified Credit counsellors (CCC) who shall facilitate access to credit to existing and potential entrepreneurs at all stages of business cycle, be it setup or step up including expansion, diversification and even exit or setting up new enterprise

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