How to Apply for Mudra Loan Online/Offline

A MUDRA Loan is a government-backed financing option for small businesses, traders, and self-employed people who need funds for business growth or working capital. Applying for a MUDRA Loan is a simple process. This can be done through both online and offline modes. 

To apply, you usually need to choose a lender, check eligibility, keep identity, address, and business documents ready, and submit the application. The approval process depends on the lender’s checks, your profile, and the loan category you select under the PMMY Scheme.

You can apply for a MUDRA loan (Pradhan Mantri Mudra Yojana) online through two primary government portals or directly through the websites of approved banks and NBFCs. MUDRA is a refinancing institution and does not lend directly; instead, it works through a network of commercial banks, RRBs, Small Finance Banks, and MFIs.

Online Application Steps

1. Check Eligibility: Visit the JanSamarth portal and select ‘Check Eligibility’ under the Business Activity Loans section. Alternatively, you can apply from the Udyamimitra portal or from the website of your preferred lender who offers MUDRA Loans.

2. Register: Sign up using your mobile number and verify it via OTP.

3. Fill the Application: Provide personal, professional, and business details, including the loan category (Shishu, Kishore, Tarun, or TarunPlus) based on your fund requirement.

4. Upload Documents: Attach digital copies of required KYC and business documents.

5. Select Lender: After submitting, you can compare offers from various banks and select a preferred lender branch.

6. Await Approval & Disbursal: Once the lender verifies your profile, the amount is disbursed into your account. 
   
   

Where to Apply Online

• JanSamarth Portal: A unified digital platform for government-sponsored credit schemes where you can check eligibility and apply for MUDRA loans.

• Udyamimitra Portal: The official portal dedicated to MSME credit where borrowers can file online applications.

• Lender Websites: Many participating banks have dedicated MUDRA loan application pages on their official websites.

To apply for a Mudra loan offline, visit a nearby public/private sector bank, regional rural bank (RRB), or micro-finance institution (MFI). Request, fill out, and submit the PMMY application form along with business documents, identity/address proof, and photographs. The bank will verify these documents before approval and disbursement. 

Offline Application Steps

• Identify a Lender: Visit a nearby branch of any public or private sector bank, Regional Rural Bank (RRB), NBFC, or Micro Finance Institution (MFI).

• Request the Form: Ask a loan officer for the PMMY application form or download and print it from the official MUDRA website or the lender's website.

• Select Category: Choose the appropriate category based on your funding needs:

  • Shishu: Up to ₹50,000.

  • Kishore: ₹50,001 to ₹5 Lakhs.

  • Tarun: ₹5,00,001 to ₹10 Lakhs.

  • Tarun Plus: Above ₹10 Lakhs to ₹20 Lakhs.
    
    

• Submit Application: Fill out the form accurately and submit it along with all required documents to the bank officer.

• Verification & Disbursement: The bank will review your business plan and verify your documents. Once approved, the funds are disbursed directly into your bank account.

While it varies from lender to lender, here are the tentative documents required when you apply for a MUDRA Loan online or offline: 

• Proof of Identity: Aadhaar card, Voter ID, PAN card, Driving License, or Passport.

• Proof of Address: Recent utility bills (electricity/telephone), Aadhaar card, or property tax receipt.

• Photographs: Two recent passport-sized photographs.

• Business Proof: Registration certificates, business license, or GST registration.

• Financial Records: Bank statements for the last 6–12 months and Income Tax Returns (ITR) for the last two years (typically for Kishore and Tarun categories).

• Project Report: A business plan or project report detailing the technical and economic viability of your enterprise.

• Quotations: Proforma invoices or quotations for any machinery or equipment you intend to purchase.