✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now!


The government launched the PM Street Vendor's AtmaNirbhar Nidhi Scheme to offer loans to street vendors. The main objective of the scheme is to provide an economic boost to the street vendors by offering them working capital loans, so that they start their businesses again and bring it back to normalcy. This scheme was launched on 1st June 2020. Through this scheme, the vendors can apply for a loan of up to Rs 10,000 for a year. In addition, there is no need to pledge any collateral for it. This scheme will supposedly help over 50 lakh street vendors across the nation.

The PM SVANidhi scheme is also beneficial to vendors as it helps them avail subsidies along with an increased loan limit. The interest subsidy will be valid till 31st March 2022. Street vendors are encouraged to carry out digital transactions and they can get a monthly cashback of Rs. 100. All street vendors who worked in urban areas on or before March 24, 2020, can avail the scheme. The loan can be repaid in the tenure ranging up to 12 months.

Benefits of the PM SVAnidhi Scheme

The scheme will help street vendors revive their businesses and make way for new opportunities to this sector to move up the economic ladder.

  • Avail working capital loan up to Rs. 10,000/-

  • Incentivization of regular loan repayment

  • Cashback reward for digital transactions

Guidelines for Interest rates

  • In case of Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Cooperative Banks & SHG Banks, the rates will be as per their prevailing rates of interest.

  • In case of NBFC, NBFC-MFIs etc., interest rates will be as per RBI (Reserve Bank of India) guidelines for respective lender category.

  • The Beneficiaries availing loan under the PM Street Vendor's AtmaNirbhar Nidhi Scheme, can get an interest subsidy at 7%.

Cash- Back and Interest Subsidy for scheme for a loan amount of 10,000Rs

PM SVANidhi Eligibility Criteria

The Urban Local Bodies (ULB) / Town Vending Committees (TVC) will determine the beneficiaries eligible under the scheme. The eligible vendors will be identified as per the following criteria:

  • Vendors who have a Certificate of Vending / Identity Card from Urban Local Bodies (ULBs) are eligible to apply.

  • Vendors who have not been issued with the Certificate of Vending / Identity Card will be provided with a Provisional Certificate of Vending by the Urban Local Bodies (ULBs). The ULBs will provide a permanent Certificate of Vending and Identification Card to such vendors.

  • Vendors that were left out of the identification survey or who have started vending after post survey and have been issued Letter of Recommendation (LoR) are eligible.

PM Svanidhi Eligibility of States & Uts

The PM SVANidhi is only available for beneficiaries who belong to states or UTs which are listed under the notified Rules and Scheme of the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014. However, beneficiaries of the Meghalaya state are an exception even though it has its own State Street Vendors Act.

Pre-Application Process of PM SVANidhi

The below mentioned steps will ensure you are ready to start the application process on the portal.

1. Check your name in the vendor survey list and note your Survey Reference Number (SRN).

2. Keep a copy of your coefficient of variation (COV) or ID card ready for uploading during the application process

3. A Provisional COV shall be generated for you by the system while making an online application

4. Keep a copy of Letter of Recommendation (LOR) ready for uploading

5. The Vendor needs to declare any one of the following:

  • Vendor has received One Time assistance during the pandemic lockdown

  • Vendor must be a member of any vending/ Hawkers association

How to Apply For PM SVANidhi Scheme

Step 1:

Visit the official website at http://pmsvanidhi.mohua.gov.in/

PM SVANidhi Potal

Step 2:

Next you need to download the PM SVANidhi Scheme Loan Application Form.

PM SVANidhi Application Form

Step 3:

Select the vendor category that you are eligible for.

PM SVANidhi Eligibility

Step 4:

 Fill the Loan application form (LAF). It is a must to have your Aadhaar number linked to your mobile number.

PM SVANidhi Portal

Step 5:

Submit the form after filling the necessary details.

How to Check Your Survey Status

To check your survey status, go through the following steps:

  1. Login in to the official PM SVANidhi website https://pmsvanidhi.mohua.gov.in/

  2. Click on the option ‘Street Vendor Survey Search’.

  3. Under this, you will have to fill in the requested fields like State, ULB Name, Vendor Id Card Number, Certificate of Vending No., Name of Street Vendor, Father’s Name/Spouse Name and Mobile Number.

  4. Once filled, you can click ‘Search’ to check your survey status.


The pandemic crisis has adversely impacted the livelihoods of street vendors that work with a small capital base and might have used the same during the lockdown. Hence, there is a need to provide credit for working capital to street vendors to resume their business. You can apply for collateral-free Business Loans at Finserv MARKETS. You can avail a Business Loan of up to Rs. 30 Lakhs, with a 100% online process. The approval is instant; it takes just 3 minutes and funds will reach you in just 24 hours. The repayment tenure is very flexible and ranges between 1-5 years. In addition, there are no hidden charges at all. You can also apply for a business loan online with the Finserv MARKETS App and get pre-approved offers on business loan.

Lates PM Svanidhi News

PM SVANidhi scheme: UP, M.P and Telangana top in extending loans to street vendors  

The PM Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi) scheme was launched in June’20 to provide subsidised micro-credit of up to Rs. 10,000 to street vendors who were looking to restart their business after the pandemic. As of data released on 31st January’21, the PM SVANidhi scheme has disbursed loans to 13.82 Lakh beneficiaries amounting to Rs 1,363.88 Crores.

The data further revealed that out of the total amount, Rs. 354.26 Crores or nearly one fourth of total amount was disbursed in Uttar Pradesh itself, followed by Rs. 238.4 Crores in Madhya Pradesh and Rs. 237.35 Crores in Telangana.

- February 28, 2021

FAQ’s on PM Svanidhi Scheme

  • ✔️Which lending Institution will provide credit?

    The following are the type of financial institutions that offer credit for the scheme. They are as follows:


    ●     Scheduled Commercial Banks

    ●     Micro-Finance Institutions

    ●     Regional Rural Banks

    ●     SHG Banks

    ●     Cooperative Banks

    ●     Small Finance Banks

    Non-Banking Financial Companies

  • ✔️Who is the target beneficiary of the PM Svanidhi scheme?

    Street vendors/ hawkers in the urban areas and the vendors of the surrounding peri-urban and rural areas as on or before March 24, 2020, are the target beneficiary of the scheme.

  • ✔️What are the KYC documents required in addition to COV/LOR?

    The following are the KYC documents required:

    ●     Aadhaar Card

    ●     Voter’s Identity Card

    ●     Driving Licence

    ●     MNREGA C

    ●     PAN Card

  • ✔️Is there any incentive on timely or early repayment of the loan?

    Yes, if the vendor was able to repay the initial working capital early then he/she is eligible for a higher percentage of loan in the next cycle.    

  • ✔️How long will it take for the PM Svanidhi scheme loan to be approved?

    The approval process for a loan will be automated through a Mobile App and Web Portal. You will be able to check the real-time status of your PM Svanidhi scheme application. The whole process may take less than 30 days.

Happy Customers of Finserv MARKETS

Getting a loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!

I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on the premium while choosing the annual payment option!

Check your personal loan eligibility in seconds!

My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!

Get the best FD interest rates starting @ 8.40%. Let's start!

Kids grow up fast and to fulfill their dream trip to Disneyland I had everything but instant funds. With no collateral or guarantor required and a hassle-free processing, I gifted my family a memorable trip to Orlando with just a click!

Get sum insured up to 1 Crore! Let's start!

The best way to start looking for health insurance is to do a close study of the coverage needs and checking the insurance company's claim ratio. No unnecessary jargons, easy to apply claims process and choice of premia!

Zero additional charge on part-payment option on Business loans! Let's start!

I bought my first iPhone using my Bajaj Finserv EMI Network Card. Zero downpayment with a No cost EMI on Bajaj Finserv EMI store just made my day!

Get home loan sanctioned online in 72 hours! Let's start!