MUDRA - Micro Units Development and Refinance Agency Limited

 

 

TYPES OF MUDRA LOAN:

 

 

Procedure for application of MUDRA

 

            

 

 

Eligibility Criteria

• Loan applicant must be an Indian Citizen

• Loan can be availed only for micro or small scales businesses rural areas.

• Loans can be availed by non-farm income-generating businesses in trading, manufacturing and services.

• Loan amount should be quoted under the maximum limit Rs. 10,00,000/-

Documents Required

 

• Identity proof, Residence proof, and Business address proof

• Income Tax Returns and Financial Statements of last three years

• Written proposal of Company or Partnership Deed

• Latest Assets and Liabilities statement and income tax returns of promoters and Guarantors.

• Rental agreement (if any)

• Registration forms of SSI/MSME, if applicable.

• Projected Financial Statements for the coming two, for cases involving Rs. 2 lakhs and above.

 

 

Benefits of Attaining MUDRA Loan

 

• Finance range : Rs. 50, 000 to Rs.10,00,000/-

• No processing fee

• Focus on small and micro level businesses

• Low Interest rates

                                                                                                                                                              - By Harshali Ahire