SHISHU MUDRA LOAN: Yes! Now you can also get a loan up to Rs 50,000 without any guarantee. Under the Pradhan Mantri Mudra Loan Scheme, SBI Bank provides loans in three parts: Shishu, Kishore, and Tarun. One of these is the Shishu Mudra Loan, under which loans are provided to small business owners. Under this scheme, you can get a loan to expand your business.
Complete information about what are the qualifications required to get this loan or how you can apply for this loan etc. is available in today’s article. So read today’s article till the end.
Prime Minister Mudra Loan Scheme
Pradhan Mantri Mudra Loan Scheme was started by the government on April 8, 2015, under which entrepreneurs were provided loans without any guarantee to expand their business or start a new business.
Under this scheme, SBI Bank provided the facility of providing loans for businesses in three parts: Shishu, Kishor, and Tarun.
Under the Pradhan Mantri Mudra Loan Scheme, a loan amount of up to Rs 10 lakh is provided to the entrepreneurs as per their business. You can also apply under this scheme for a loan to expand your business or start a new business.
SBI Shishu Loan Scheme
SBI Shishu Mudra Loan Scheme has been started by the State Bank of India under the Pradhan Mantri Mudra Loan Scheme. With its help, you can get a loan amount of up to ₹ 50000 for 60 months without any guarantee to start a new business or expand your old business.
If you also want to expand your business or start your own new business, then you can avail the benefits of this scheme by applying under it. Under this scheme, the loan amount is provided for a maximum period of 5 years, using which you can start a new start-up, or if you already have a business, you can expand it. Essential Qualifications for Shishu Mudra Loan
People with new businesses or small businesses are eligible to apply for this scheme. To apply for this, the age of the applicant should be between 18 to 60 years and the applicant should have his own business.
Apart from this, the applicant can get this loan only from a registered firm and the registered firm should be at least 3 years old. Along with this, he should have a record of GST returns to date.
SBI Mudra Loan Application Process
If you also want to apply for the SBI Shishu Mudra Loan Scheme, then follow the following procedure sequentially-
To apply for the SBI Shishu Mudra Loan Scheme, first of all, you have to go to your nearest SBI bank branch.
After going to the bank, you have to get information about this scheme from the bank employees.
After this, you have to get the application form from the bank to apply for this scheme.
Now you have to enter all the information asked in this application form carefully.
Photocopies of all the documents asked in this application form or required for it have to be attached to the application form.
Finally, this application form has to be submitted to the bank employees.
Now all your documents will be checked by the bank and if all the information is found correct, your application will be accepted.
After this, the loan amount will be transferred to your bank account.
By following the above process, you can easily apply for the SBI Shishu Mudra Loan Scheme and get the loan.
