MSME LOAN: If you want to start a business but don't have money, then the government will give you a loan of lakhs, know how?

If you want to start your own business and you do not have money, then this news is for you. The government runs many types of schemes for MSMEs. Through these schemes, loans are given to needy micro, small, and medium-sized industries to do business. One of these schemes is the PM Mudra Loan Yojana.

In April 2015, the Government of India launched the Pradhan Mantri Mudra Yojana (PMMY). So far, more than 52 crore loans worth ₹ 32.61 lakh crore have been sanctioned through this. Business development is no longer limited to big cities only.

They get a loan under the PM Mudra Yojana.

Under the Pradhan Mantri Mudra Yojana, the government provides loans without guarantee to farmers, small artisans, shopkeepers, home-based businesses, women entrepreneurs, startups starting a new business, MSMEs, street vendors, limited liability partnership retailers, traders, small manufacturers, partnership firms, etc. If you have some idea, then you can get a loan of lakhs of rupees from the government through this scheme.

Where and how will you get the loan?

These loans are given by commercial banks, RRBs, small finance banks, MFIs, and NBFCs. If you want to take a loan to start your venture, then you can contact the lending institution or apply online through this portal www.udyamimitra.in.

You have to tell the government the plan for your business, explaining how you will scale it. What is the location? What things will be required? If your idea is strong, then the government provides you with this loan through various NBFCs and banks.

How much loan will you get?

Under this scheme, you can get a loan under four categories. Shishu Mudra Loan, Kishor Mudra Loan, Tarun Mudra Loan, and Tarun Plus Mudra Loan. The amount of all is different. For example, in Shishu Mudra Loan, you can get a loan of up to Rs 50 thousand.

At the same time, under Kishor Mudra Loan, you can get a loan of 50 thousand to 5 lakh rupees. Under Tarun Mudra Loan, you can get a loan of 5 lakh to 10 lakh rupees through this scheme. And under Tarun Plans Mudra Loan, you can get a loan of up to 20 lakh rupees.

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