Documents Required for MUDRA Loans
Micro Units Development and Refinance Agency or MUDRA, Loan scheme under the Pradhan Mantri Mudra Yojana (PMMY) is the initiative by Indian Government to offer loans to SMEs, individuals, and MSMEs. MUDRA loans are offered under three loan schemes titled Shishu, Kishor, and Tarun. Under the MUDRA Yojana, borrowers can avail maximum loan amount up to Rs. 10 lakh, and there are no minimum loan amount criteria. One doesn't need to provide any collateral or security to the banks or financial institutions for availing Mudra loans. These loans repayment tenures range from three years to five years with flexible EMI options.
To avail Mudra loans, there are some documents you've to submit to banks or financial institutions. These are as follows:
- Filled Mudra application form for the specific category you intend to opt for- Shishu loan, Kishor and Tarun loan category
- 2 Passport-sized photographs
- Business Plan that's Self-written
- Identity Proof: Voter’s ID card, Driving License, PAN card, Adhaar Card, Passport
- Address Proof: Voter’s ID card, Driving License, Property Papers, Rent agreement, Utility Bills, Passport
- Income Proof: Salary slips of last 6 months, Last years’ ITR/Sales Tax returns
- Age Proof such as Birth certificate, Class certificate
- Proof of belonging to ST/SC/OBC Category
- Business address and vintage proof
- Bank statement of last 6 months
- Proof of ownership of shop/office/store/godown
- Registrations, Permissions, Licenses
- For a firm, you'll need to provide Memorandum of Association (MoA) and Articles of Association (AoA)
- If the applicant belongs to SC/ ST/ OBC or any other special category furnish with concerning documents
