Categories: AADHAR

How to Get a Rs 10,000 Loan from PM SVANidhi Loan Scheme

(How to Get a Rs 10,000 Loan from PM SVANidhi Loan Scheme)

♥Learn how to apply for a Rs 10,000 loan from PM SVANidhi Loan Scheme and boost your small business. Our guide provides detailed information on the eligibility criteria, application process, and FAQs.

Introduction:

The Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme is a government initiative to help street vendors and small businesses affected by the COVID-19 pandemic. Under the scheme, street vendors and small business owners can apply for a loan of up to Rs 10,000 without any collateral. This loan can help them restart their business, increase their working capital, and boost their income. In this article, we will guide you through the process of applying for a Rs 10,000 loan from the PM SVANidhi Scheme.

1. What is the PM SVANidhi Scheme?

The PM SVANidhi Scheme is a government initiative that provides loans to street vendors and small business owners affected by the COVID-19 pandemic. The scheme aims to provide financial support to those who are struggling to restart their business due to the pandemic.

2. Who is Eligible for the PM SVANidhi Scheme?

To be eligible for the PM SVANidhi Scheme, the applicant must be a street vendor or a small business owner who has a vending or business certificate. The applicant must also have been in the business before March 24, 2020. The scheme is available for vendors and small businesses across all states and union territories in India.

3. How to Apply for the PM SVANidhi Scheme?

To apply for the PM SVANidhi Scheme, the applicant needs to visit the official website of the Ministry of Housing and Urban Affairs. The applicant can register on the website and fill in the application form. The applicant will need to provide their personal and business details, including their Aadhaar number, bank account details, and mobile number.

4. What is the Loan Amount and Repayment Period under the PM SVANidhi Scheme?

Under the PM SVANidhi Loan Scheme, the loan amount is up to Rs 10,000. The repayment period is 12 months, and the interest rate is 7% per annum. The loan can be repaid in monthly installments, and there is no penalty for early repayment.

5. What Documents are Required to Apply for the PM SVANidhi Scheme?

The applicant needs to provide the following documents to apply for the PM SVANidhi Scheme:

– Aadhaar Card

– PAN Card

– Bank Account Details

– Business Registration Certificate

– Vending Certificate

6. How to Check the Status of PM SVANidhi Loan Application?

The applicant can check the status of their PM SVANidhi loan application by visiting the official website of the Ministry of Housing and Urban Affairs. The applicant can log in to their account and check the status of their application.

7. What is the Interest Rate under the PM SVANidhi Scheme?

The interest rate under the PM SVANidhi Scheme is 7% per annum. This interest rate is lower than the prevailing market rate, making it an affordable loan option for small businesses.

8. What are the Benefits of the PM SVANidhi Scheme?

The PM SVANidhi Scheme provides several benefits to street vendors and small business owners, including:

– Access to affordable credit

– No collateral required

– Repayment in easy monthly installments

– Lower interest rate compared to the market rate

– Boost in working capital for the business

9. What is the Last Date to Apply for the PM SVANidhi Scheme?

The last date to apply for the PM SVANidhi Scheme is not fixed. However, the scheme is currently open for applications, and interested applicants can apply on the Ministry of Housing and Urban Affairs official website.

10. How Can the PM SVANidhi Loan Scheme Help Small Businesses?

The PM SVANidhi Scheme can help small businesses in several ways, including:

– Providing access to affordable credit to boost their working capital

– Helping them restart their business after the COVID-19 pandemic

– Providing a platform to promote their business and reach out to more customers

– Encouraging entrepreneurship and self-employment among street vendors and small business owners

– Supporting the government’s vision of a self-reliant and financially empowered India

Summary:

The PM SVANidhi Loan Scheme is a government initiative that aims to provide financial support to street vendors and small business owners affected by the COVID-19 pandemic. Under the scheme, applicants can apply for a loan of up to Rs 10,000 without any collateral. The loan has a repayment period of 12 months and an interest rate of 7% per annum. The scheme is open to vendors and small businesses across all states and union territories in India. Applicants can apply on the Ministry of Housing and Urban Affairs’ official website.

FAQs:

Q. Who can apply for the PM SVANidhi Loan Scheme?

A. The PM SVANidhi Scheme is open to street vendors and small business owners who have a vending or business certificate. The applicant must have been in the business before March 24, 2020.

Q. What is the loan amount under the PM SVANidhi Loan Scheme?

A. The loan amount under the PM SVANidhi Scheme is up to Rs 10,000.

Q. What is the repayment period for the PM SVANidhi Scheme loan?

A. The repayment period for the PM SVANidhi Scheme loan is 12 months.

Q. Is collateral required for the PM SVANidhi Scheme loan?

A. No, collateral is not required for the PM SVANidhi Scheme loan.

Q. What is the interest rate for the PM SVANidhi Scheme loan?

A. The interest rate for the PM SVANidhi Scheme loan is 7% per annum.

If you want to know more about the PM SVANidhi Scheme and other government schemes to support small businesses, visit https://pmsvanidhi.mohua.gov.in/

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