Business Idea: Now you can 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 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 launched by the government on 8 April 2015, under which loans were provided to entrepreneurs without any guarantee to expand their business or start a new business. Under this scheme, SBI Bank provided the facility of providing loans for business in three parts: Shishu, Kishor and Tarun.
Under the Pradhan Mantri Mudra Loan Scheme, loans up to Rs 10 lakh are provided to entrepreneurs as per their business. You can also apply for a loan under this scheme to expand your business or start a new business.
SBI Shishu Loan Scheme
SBI Shishu Mudra Loan Scheme has been launched by State Bank of India under the Pradhan Mantri Mudra Loan Scheme. With its help, you can get a loan up to ₹ 50000 without any guarantee for 60 months to start a new business or expand your old business.
If you also want to expand your business or start your new business, then you can avail its benefits by applying under this scheme. Under this scheme, loan amount is provided for a maximum period of 5 years, using which you can start a new startup or expand it if you already have a business.
Essential Qualifications for Shishu Mudra Loan
People with new business or small business are eligible to apply for this scheme. To apply in 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 also have the record of GST returns till date.
