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What are the documents required for Mudra Loans?

Below we have provided a checklist of the Mudra loan documents to avail a new business loan. The listed documents will be common for all, whether you are applying for Pradhan Mantri Mudra Yojana through SBI Bank, HDFC, Bank of India, PNB or Bank of Maharashtra.

  • Photographs: 2 recent Passport-sized photographs

  • Identity Proof: PAN Card, Aadhaar Card, Voter ID Card, Passport, Driving License. 

  • Address Proof: Aadhaar Card, Passport, Utility bills, Voter ID Card.

  • Proof of Income: Last 6 Months Bank Account Statement, Income Tax Returns/ Sales Tax Returns, Audited Balance Sheets of last 3 years, and projected balance sheets for the next 2 years for working capital limits.

  • Business Existence Proof: Business licence or registration certificate of the business, documents containing owners details and address of the business, rental agreement(If the establishment is in rented property), partnership deed( in case of partnership business), memorandum, and articles of association ( In case of a company), title deeds and lease deeds, etc.

Other Mudra Loan Documents List

Below are the mudra loan eligibility documents you will be required to submit for specific business purposes. You can download this list of documents in PDF format.

Vehicle Loan

  • A duly filled Pradhan Mantri Mudra Yojana application form

  • A duly filled vehicle loan application form 

  • Income proof

  • Identity Proof

  • 2 Passport size photographs 

  • Bank statement for the last 6 months 

Business Installment Loan

  • A duly filled Pradhan Mantri Mudra Yojana application form 

  • A duly filled application form of the business installment loan 

  • Income tax return statement for the last 2 years 

  • CA certified business financial reports 

  • Identity proof

  • Address proof

  • Proof of qualification

  • Proof of establishment 

  • Trade references 

  • Bank statement for the last 6 months 

  • Proof of business continuity 

  • Proof of ownership of office/apartment

Business Loan Group & Rural Business Credit

  • A duly filled Pradhan Mantri Mudra Yojana application form

  • A duly filled application form of the business installment loan

  • Income tax return statement for the last 2 years

  • Identity proof

  • Address proof

  • Bank statement for the last 1 year

  • Business vintage proof

  • Proof of ownership of office/apartment

Mudra (Micro Units Development and Refinance Agency) was set up by Prime Minister Narendra Modi on April 8, 2015, to help finance the non-corporate, non-farming organizations in India. It was launched under the flagship scheme Pradhan Mantri Mudra Yojana (PMMY) to provide affordable loans to micro and small enterprises. One of its major aims is to bring the target audience into the formal financial sector. It offers loans for upto Rs. 10 Lakh to the eligible enterprises. Types of Mudra loans are given below:

  • Shishu - Under this scheme/product, the beneficiary micro unit/entrepreneur can avail loans upto Rs. 50,000 through the micro credit scheme. Entrepreneurs must be in the primary stages of starting a business or looking to start one.

  • Kishore - Under this scheme/product, the beneficiary micro unit/entrepreneur can avail loans upto Rs. 5 Lakhs through the micro credit scheme. The borrower must be looking to expand his business operations. The technical and economic viability of the business must also be reported. 

  • Tarun - Under this scheme/product, the beneficiary micro unit/entrepreneur can avail loans upto Rs. 10 Lakhs through the microcredit scheme. The borrower must showcase the latest position of the enterprise along with other documents required for availing of the loan. 

Suppose you do not meet the eligibility criteria or cannot procure the necessary documents required for the Pradhan Mantri Mudra Yojana. In that case, you can opt for the Bajaj Finserv Business Loan available on Finserv MARKETS. If you need an amount higher than Rs. 10 Lakhs, you can apply for Bajaj Finance Business Loan at competitive interest rates with flexible repayment tenures. You can apply for the loan on Finserv MARKETS to fulfill all your professional goals today!