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PM SVANidhi: Eligibility and How to Apply for Street Vendor Loan

The Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched to empower indigeneous street vendors by extending micro loans to them. One of the other objectives of the scheme, launched on June 1, 2020, is to facilitate the street vendors’ holistic development and economic upliftment, among other things.


As a part of the initiative, the authorities intend on providing collateral-free working capital loans of up to ₹20,000 to an approximate total of 50 lakh Indian street vendors. With the scheme, the government aims to assist the street vendors with the resumption of their business in urban areas as well as peri-urban/rural areas in the wake of the pandemic. 


Additionally, back on July 17, 2020, the central government had launched a mobile application for the street vendors. Every street vendor who is a beneficiary of the PM SVANidhi Yojana must have this app installed on their phone to track the status of services that they have availed through the programme.

Incentives Under the PM SVANidhi Scheme

The PM SVANidhi scheme also incentivises transactions made through digital mediums such as the following:

  1. UPI QR codes belonging to payment aggregators

  2. RuPay Debit Cards

  3. Google Pay

  4. BharatPe

  5. PhonePe

  6. Amazon Pay

PM SVANidhi: What are the Additional Benefits?

  • Interest subsidy @7% per annum on regular repayment of the loan for street vendors

  • Cashback up to ₹1,200 per annum on undertaking prescribed digital transactions

Eligibility Criteria for the Street Vendor’s Yojana

The PM SVANidhi Yojana is available for beneficiaries belonging to only those states/UTs that have known notified rules and schemes under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. If you are a street vendor residing in a state or a union territory that has laws drafted with the intention of protecting your interests, you can apply for the street vendor loan. However, there are also a set of additional criteria that you will have to fulfill in order to avail the street vendor loan. Let us understand these.

Additional Requirements for the Street Vendor’s Yojana

  1. Street vendors must possess a Certificate of Vending / identity card issued by the relevant Urban Local Bodies (ULBs).

  1. In case they do not have the aforementioned documents, they must be a part of the list of vendors who have been identified by the survey conducted by the government during its preliminary stages of setting up the initiative but have not been issued a Certificate of Vending or any other form of proof of identity.

  2. In case you are a street vendor who began their operation after the survey was conducted, you must have a Letter of Recommendation (LoR) issued in your name as well as that of your business by the local ULB/Town Vending Committee officials.


In case the second or the third points are applicable to you, a Provisional Certificate of Vending would be generated for you to start off with. The ULB officials will then issue a Permanent Certificate of Vending and Identification Card immediately or within the time frame of one month at the very most.


Once you ensure that you meet the above criteria, all you will need to do is follow a few basic steps so that you can become a beneficiary of the PM SVANidhi initiative as well. Given below is the list of those steps that need to be followed.

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How to Apply for a Street Vendor Loan?

  • Step 1: First, visit the initiative’s official website at www.pmsvanidhi.mohua.gov.in.

  • Step 2:You will see two options on the landing page, namely ‘Apply Loan ₹10k’ or ‘Apply Loan ₹20k’. Select the option that suits you best.

  • Step 3: You will have to make an ID for yourself on the portal. Enter your mobile number along with the case-sensitive captcha. Alternatively, you can also enter your Aadhaar details.

  • Step 4: You will be able to choose a category option that suits your case best. Post this, you will be required to fill in the details pertaining to your identity, place of residence, and business.

  • Step 5:Click on ‘Submit’ to complete the street vendor’s loan application.


As you complete the above-mentioned steps, you will be given credentials related to your application ID. Make a note of it or save a copy wherever you can. You can also expect an official to reach out shortly after to verify your identity and business-related credentials and complete the application process.


You can learn more about the PM SVANidhi scheme, alternate methods of applying for the street vendor loans, or apply for a business loan on Bajaj Markets.

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