How to apply for Mudra loan ?

Follow the below steps to apply for Mudra Loan

• Borrower must prepare a business plan and required documents as per the checklist.
• Borrower can approach one or more of the Banks or Financial Institution offering Mudra loan
• Bank or Financial Institution will process the Mudra loan application as per their terms and conditions
• If the loan application is acceptable, the bank will sanction the loan and provide a Mudra card

Follow the below steps to get Mudra loan.

• Applicant should approach any of those banks that are listed by scheme as loan providers
• Complete business details should be provided to the bank.
• Bank will categorise your requirement in to any of the 3 schemes

• Then a form for loan has to be filled along with current account opening in the Bank.

You can get the application form for the Mudra loan from here.

• Common Loan Application Form
• Application form for Shishu

Loan Application Process

• Applicant has to identify his/her nearest bank offering the Mudra loan
• Visit personally with a business plan
• Identity proof, address proof and passport photographs
• Bank will review, business plan and need
• If approved, bank will sanction the loan