What is Mudra Loan?

• MUDRA stands for Micro Units Development and Refinance Agency.

• MUDRA Banks provides MUDRA Loans.

• A Mudra loan is a loan taken for the needs of a small business.

• Mudra loan offers 3 types of loans based on the company’s size availing the loan.

Keep scrolling to know what they are!

Prerequisites for Mudra Loan

For Shishu Loan, here is the list of documents required:

• Identity Proof: Aadhar card, Pan Card, etc.

• Address Proof: Electricity Bill, Telephone Bill, Rent Agreement, etc

• Voter ID card

• Two passport size photos

• Bank account statement for last six months

• Proof of identity and Address of Business

• OBC certificate, if applicable.

For Kishore and Tarun Loan here are the additional documents required apart from the ones mentioned above:

• Balance Sheet of business for past two years

• Sales Performance of business since the beginning

• Photos, KYC details, and documents proving contribution/shares of Partners, Directors, Proprietors