Mudra Loan for Business 2024: Indians have brilliant business minds, but most of them cannot execute their business idea due to the unavailability of financial support. Investors only invest in a running startup and individuals who want to start their new startup have to seek loans with higher interest rates from banks and other lenders. But now the Government of India is helping them by providing Mudra Loan for Business 2024 10 lakh financial assistance to individuals who want to start a new business. If you are looking for financial support to start a new business then you can check this article “Mudra Loan for Business 2024” where we will share with you all the important information about this scheme and will also share with you the procedure to apply for Mudra Loan for Business 2024 in center Government 10 lakh scheme for a new business. So if you fulfil the Mudra Loan for Business 2024 eligibility criteria and have all the relevant documents then you can apply accordingly.
The central government is providing instant loans to the youth who want to start a new business under Pradhan Mantri Mudra Loan Yojana. The Mudra Loan for Business 2024 scheme has an offer of loan between 50000 to a maximum of 10 lakh. As it is a loan scheme from the central government, but will support Indians with low interest rates loans and a long EMI policy to return the money. Most of the banks in India including SBI, Bank of Baroda, Bank of India, Canara bank and other banks are participating in mudra loan scheme. So you can apply for mudra loan in your bank branch to start a new business.
Features of Mudra Loan for Business 2024
- The scheme focuses on micro small and medium enterprises in the country where you can get the mudra loan for multiple small businesses including vegetable vendor, shopkeeper, retailer, manufacturing units, service providing sector etc.
- The loan scheme is divided into three categories including Shishu, Kishore and Tarun mudra loan.
- If your business is very small and can be started with the amount of Rs 50000 then you can get Shishu mudra loan which is providing online as well as offline mode
- If you need money between 50000 to 5 lakh rupees then you can apply under the Kishore mudra loan
- The maximum 10 lakh mudra loan is provided under the Tarun mudra loan scheme.
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Mudra Loan for Business Eligibility 2024
- It is important for applicant to be a citizen of India for getting mudra loan
- The minimum age of the applicant should be at least 18 years old while applying for the loan
- The business of the applicant should be registered with udyam portal of Government of India
- Your business should be listed under the MSME businesses of Central Government
- Applicant safety showcase the actual cost of investment in the company to the bank and have to provide the calculation of money which will be used to build up the business.
Documents Required for Mudra Business Loan 2024
Hindi video sex to carry the following documents while applying for mudra loan in the bank:
- Aadhar Card of the applicant
- Passport size photograph
- PAN card
- GST registration.
- Udyam portal registration
- Address proof of the applicant
- Address documents of the business
- Last one year GST filing document
- At least 1 year of business entry details
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How to Apply for Mudra Loan for Business 2024?
If you also want to get mudra loan then you can apply through online mode for Shishu mudra loan for maximum 50000 rupees. However if you need more amount then you can apply physically by visiting to the nearest branch of your bank.
- Go to the official website of your bank and select the MSME loan section.
- After date you will find mudra loan option on the screen and select the loan type according to your need
- After that you will be asked to enter your mobile number and email ID for verification
- You have to enter the loan amount which you want to get and select the EMI option to return the money
- Now you can upload all the important documents for Business Loan Online and click on the submit link.
- Bank will review your application and will contact to you for further verification
Once you complete the verification round you will receive loan amount in your bank account within few hours where it will deduct processing fees and GST from your loan amount accordingly.