Mudra Loan

Micro Units Development and Refinance Agency Limited (MUDRA) is an NBFC supporting development of micro enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs / NBFCs for lending to micro units having loan requirement up to 10 lakhs. MUDRA provides refinance support to micro business under the Scheme of Pradhan Mantri MUDRA Yojana.

Purpose of Providing Mudra Loan

The basic aim being income generation, the purpose of the loan serves:
 

• Business loans for vendors, shopkeepers, traders and another service sector.


• Use of MUDRA Cards online to meet working capital needs.


• Finance for equipment.


• Loans to the transport sector.




 
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• Eligibility of Mudra Loan
  
  The minimum age of the applicant must be 18 years and the maximum mudra loan age limit is set to 65 years. Loans can be availed by non-farm income-generating businesses in trading, manufacturing and services. The requirement of credit must be Rs. 10 lakh or lower.
  
  Benefits of Mudra Loan
  
  Loans offers to small businesses in the unorganized sector are now covered by a credit guarantee scheme. It also helps bridge the shortfall in loans for these businesses. This helps small entrepreneurs save on the interests that they need to pay
  
  Role of GST Suvidha Centre
  
  GST Suvidha Centre is the only Mudra Loan Applicant provider in Pan India. As per the stage of growth and funding needs of the beneficiary micro unit Pradhan Mantri MUDRA Yojana (PMMY), has created three products i.e. 'Shishu', 'Kishore' and 'Tarun'.
  
  These plans meet the loan amounts as below:
  
  Shishu : covering loans up to 50,000
  Kishore : covering loans above 50,000 and up to 5,00,000
  Tarun : covering loans above 5,00,000 and up to 10,00,000