If you also dream of starting your own business but are unable to do so due to lack of funds, then there is no need to panic now. Yes, you can easily get a loan through PM Mudra Yojana. This scheme, along with being a government scheme, gives you a guarantee of money. So now we will know how you can get the benefit of this scheme started 10 years ago...

When was it started

Pradhan Mantri Mudra Yojana has completed its 10 years on 8 April 2025. This scheme was started on 8 April 2015. This scheme has benefited millions of youth, women, and small businessmen in the country. Through this scheme, entrepreneurship has got a special boost in small towns and villages. At the beginning of the scheme, a loan of up to Rs 10 lakh was given, but in Budget 2024 this limit has been doubled.

Loans up to 20 lakhs will be available.
Loan up to 20 lakhs can be easily obtained without guarantee. Through Pradhan Mantri Mudra Yojana, the government provides the facility of three types of loans, so that you can get financial benefits at different levels. In this category, a child gets a loan of up to ₹50,000. A teenager also gets a loan of ₹50,000 to ₹5 lakhs. A young person gets a loan of ₹5 lakhs to ₹20 lakhs.

For which business will you get a loan?

Under Pradhan Mantri Mudra Yojana, you can easily get a loan for many small and medium-scale businesses. Loans can be obtained for street vendors, small shopkeepers, beauty parlors, food processing units, mobile repairing, tailoring, dairy, grocery stores, automobile repairing, etc.

Where to apply

In this scheme, you can get a loan without any guarantee. For the loan, go to the nearest bank, rural bank, NBFC, or microfinance institute and apply. You will get a form in which you will have to give all the information of the business, Aadhar card, PAN card, documents related to the business and passport size photo. For all the information about the scheme, you can visit the website (https://www.mudra.org.in).

Who will get the loan

Any Indian citizen of 18 years or above can apply for a loan for PM Mudra Yojana. The loan taker should just have a good credit history (CIBIL score). Complete information about the business for which the loan is to be taken will have to be presented.

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