Introduction

In order to successfully run a business sufficient funds are required for further growth and expansion. To tackle this issue, the Indian Government came up with Pradhan Mantri Mudra Yojana (PMMY). The Mudra Yojana loan is approved and disbursed by public and private sector banks, NBFCs, small banks, rural banks, scheduled banks, and co-operative societies that are registered under the PMMY scheme. The PMMY scheme has created three products namely 'Shishu', 'Kishore' and 'Tarun' that signify the stage of development and funding requirements by also providing a reference point for the next phase of graduation/growth. The MUDRA loan Application Form is also available on the official online portals of most of the banks that are officially entitled to offer MUDRA loans.

How to Fill Mudra Loan Application Form

Step 1:

 You can apply for a Mudra loan online by visiting the official website of the financial institution with which you wish to avail the Mudra loan and download the form (Shishu, Kishore, Tarun)

Step 2:

You must fill in the Mudra loan application form by proving your personal details like your Name, Date of Birth, Residential/ Business Address and educational qualifications.

Mudra Loan Application Form

Step 3:

In the KYC documents section you need to fill in your Voters ID Number, Aadhar Card Number, Driving License No, etc. You also, have to specify the Identity proof and Address proof.

Step 4:

 Now fill in your contact details and email id. If you own a business you need to mention the line of business, the purpose of your business and other such other information.

Mudra Loan Application Form

Step 5:

You must then specify the loan amount and tenure you wish to settle for. Enter your existing bank account details. Read and understand the mentioned declaration carefully. Finally, fill in the date and place and sign the application form.

Mudra Loan Application Form

Step 6:

After completing the above-mentioned steps, the financial institution will review your application. Once your loan application is approved, you will receive a MUDRA card, through which you can withdraw the amount and use the funds for your business.

Mudra Loan Card

 

Pradhan Mantri MUDRA Yojana Application Form

There are several sections for MUDRA loan Application Form they are as follows:

Information Required For Official Use:

  • Complete name of the enterprise

  • The serial number of the application

  • Name of the branch

  • Mudra Yojana category-Shishu, Kishor or Tarun Loan

Business Information:

  • Complete name of the enterprise

  • Constitution of the enterprise whether it is Proprietary or Partnership or Private Limited or Limited Company or any other

  • Business Address Proof, including State and PIN Code

  • Mention whether the business premises is self-owned or rented

  • Contact details

  • Applicants Email ID

  • Existing and the proposed business activity

  • Approximate date of commencement of business in DD/MM/YYYY format

  • Registration details of the unit

For Registered Business, the Following Details are Required:

  • Registration number

  • The act under which it is registered

  • The registered address of the office

  • Social category for an application like Scheduled Caste or Tribe, Other backward

  • Classes or any other Minority Community

Background Information of the Proprietor/ Partners/ Directors

  • Personal details like name, serial number, sex, date of birth and other such details

  • Contact info such as email ID, contact number, registered residential address

  • Highest academic qualification and professional degree

  • Any valid proof of identity and address

  • A copy of the PAN Card

  • Director Identity Number for all the directors

  • The total experience in the current line of business

  • The relationship with the other officials/ directors, etc.

Details of the Associate Concerns and the Nature of their Association

  • The names of the Associate Concerns

  • The addresses of Associate Concerns

  • Current bank account details

  • Nature of the Association Concerns

  • The extent of Interest as a Proprietor or Partner, Director or as an Investor in Associate Concern

Banking/Credit Facilities Existing (In Rs.)

  • Types of Facilities for a savings bank account, current account or even cash credit account or term loan or even Letter of Credit or Bank Guarantee

  • Current bank account details

  • The total loan limit already availed

  • Total outstanding as on date

  • The security that has been lodged

  • Your asset classification status

  • If you have a current account with the bank then the Customer ID needs to be provided

  • A certification statement that states the applicant has not applied for a loan with any other bank or financial institution.

Total Credit Facilities Proposed: (In Rs.)

  • Types of facilities in terms of cash or credit or term loan or even Letter of Credit or Bank Guarantee

  • The total loan amount

  • Provide the purpose of the loan

  • Details of the primary Security Offered (With an Approximate value)

For Working Capital: On the Basis of Cash Credit Limit Applied: (In Rs.)

  • Actual Sales in the last two years

  • The statement of the sales, revenue, inventory, working cycles, creditors and debtors, promoter’s contribution, total limits, etc.

For Term Loan, the Following Details Need to be Provided:

  • Types of machine or equipment

  • Name of the supplier

  • The total cost of the machine

  • The contribution that is being made by the promoters in INR

  • The total amount of loan that is required

  • The period of repayment with a moratorium period requested for

Past Performance/ Future Estimates: (In Rs.)

  • Net Sales

  • Net Profit

  • Capital (Net Worth in case of Companies)

Status Regarding Statutory Obligations:

For each Statutory Obligation, the applicant has to mention whether complied with by selecting ‘Yes’/ or ‘No’ as applicable. Mention ‘N.A.’ if not applicable. Also, in the ‘Remarks’ column in the application form, any detail in connection with the relevant obligation needs to be provided. The following are the statutory obligations:

  • Registration under the Shops and Establishment Act

  • Registration under the MSME (Provisional/ Final)

  • Drug License

  • Latest Returns for Sales Tax Filed

  • Latest Returns for Income Tax Filed

  • Other outstanding dues for Statutory requirement

Declaration:

  • Declaration with passport size photographs and signature(s) of the Proprietor/ Partners/ Director

  • Mention of Date and Place

  • Acknowledgement Slip for loan Application under PMMY

Applying for a Mudra Loan

  • Step 1: You can apply for a Mudra loan online by visiting the official website of the financial institution with which you wish to avail the Mudra loan

  • Step 2: You must fill in the Mudra loan application form by proving your personal and business details

  • Step 3:You must provide all the required documents. The basic documents required for availing Mudra loans are Identity proof, address proof, and proof of business.

  • Step 4:You must then specify the loan amount and tenure you wish to settle for

  • Step 5: After completing the above-mentioned steps, the financial institution will review your application and Once your loan application is approved, you will receive a MUDRA card, through which you can withdraw the amount and use the funds for your business.

Loans as per the MUDRA Yojana scheme are available to socio-economically backward people to improve their livelihood and the overall rural economy. You can apply for a mudra loan at Finserv MARKETS and easily avail loans of up to Rs. 10 Lakhs. If you plan on getting started with your start-ups or looking for new-age infrastructure or a small and medium enterprise looking to upgrade machinery, you can find a business loan of up tailored to your needs on Finserv MARKETS. The online application process for business loans is quite convenient with zero collateral required and flexible loan repayment options. The disbursal of loan amount takes less than 3 minutes along with exclusive offers on loans.

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