MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹ 1,000* on Business Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Mudra Loan Documents

Mudra Yojana Documents List 2020

Last Updated 23rd Sep 2020

Documents required for availing a Mudra Loan are:

  • Duly filled application form of Mudra Yojana
  • 2 passport size photos of the applicant
  • Identity Proof: Aadhaar Card, Valid Passport, Voter ID Card, Valid Driving License and PAN Card.
  • Residence Proof: Utility bill, Aadhaar card, Passport, Voter’s ID, Bank passbook or latest bank account statement.
  • Proof of business existence: Certificate, License, registration, or any other documents confirming the business existence, address, and ownership.

Mudra Loan

Mudra or ‘Micro Units Development and Refinance Agency’ is a refinancing institution that provides loans upto ₹ 10 Lakh to micro, small and medium enterprises under Pradhan Mantri Mudra Yojana. These loans help small business owners to meet their capital needs and operating costs through easy finance schemes and are known as Mudra Loan. Individuals can avail a Mudra loan through rural banks, small banks, commercial banks or non-banking finance institutions to start their business, expand business or to purchase any inventory etc without any collateral.

Documents Required for Mudra Loan

To avail a Mudra loan, you require to submit the following basic documents along with the duly filled application form for Mudra Loan.

  • Identity proof: Aadhaar Card, Valid Passport, Voter ID Card, Valid Driving License and PAN Card.
  • Address proof: Utility bills, Aadhaar Card, Valid Passport, Voter ID Card.
  • Income proof: Income Tax Returns/ Sales Tax Returns, Bank Account Statements, Audited Balance Sheets of last 3 years and projected balance sheets for the next 2 years for working capital limits
  • Proof of business existence: Business licence or registration certificate of the business, documents containing owners details and address of the business, rental agreement( If the establishment is in rented property), partnership deed( in case of partnership business), memorandum and articles of association ( In case of a company), title deeds and lease deeds etc.
  • Other documents: Registration certificate of small scale industry, Clearance Certificate from Pollution Board (If applicable).

Specific documents required for Mudra Loans: Along with generic documents, the Mudra loan eligibility documents vary according to the purpose of availing a loan. These are the documents you will be required to submit for specific purposes.

Documents for Vehicle Loan

The documents required for vehicle loan under PMMY are listed as follows:

  • Duly filled application form of Mudra Yojana
  • Vehicle loan application form
  • 2 passport size photos of the applicant
  • Identity proof such as Aadhaar Card, Passport, Voter ID Card, Driving License, etc.
  • Address proof such as Aadhaar Card, Passport, Bank statements, telephone or electricity bill
  • Income proof
  • Bank statement for the latest 6 months

Documents for Business Instalment Loan

The documents required for business instalment loan under PMMY are listed as follows:

  • Duly filled application form of Mudra Yojana
  • Loan application form
  • 2 passport size photos of the applicant
  • Identity proof such as Aadhaar Card, Passport, Voter ID Card, Driving License, etc.
  • Residential Address proof such as Aadhaar Card, Passport, Bank statements, telephone or electricity bill
  • Proof of ownership of the enterprise or residence
  • Proof of qualification, establishment and business continuity
  • Trade references
  • 2 years ITR and CA certified financials
  • Bank statement for last 6 months

Documents for Business Loan

The documents required for a business loan under PMMY are listed as follows:

  • Duly filled application form of Mudra Yojana
  • Loan application form
  • Identity and Age proof such as Aadhaar Card, Passport, Voter ID Card, Driving License, etc.
  • Residential Address proof such as Aadhaar Card, Passport, Bank statements, telephone or electricity bill
  • Proof of ownership of the enterprise or residence
  • Proof of qualification, establishment and business continuity
  • Proof of business continuity
  • Bank statement for the last 12 months
  • Income tax return for the recent 2 years

Types of Mudra Loan

Based on the development stage of the business, and the varying business requirements, the different types of Mudra loan products are mentioned as below.

  • Shishu: This loan product can be availed by small businesses who need finance to start their enterprise. They can get upto ₹ 50,000 to buy raw materials or any equipment etc.for their business.
  • Kishore: Under the Mudra Scheme, this loan product is targeted to the enterprises who have completed the process of setting the business and require funds for expanding the business. They can avail mudra loans from ₹ 50,000 to ₹ 5 Lakh for their business.
  • Tarun: This category of Mudra loan is available for enterprises who have established their business and require funds for further growth and diversifying. The funds can be availed for loan amount between ₹ 5 Lakh to ₹ 10 Lakh.

FAQs

Is ITR compulsory for Mudra loan?

Yes, the businesses must submit Income Tax Returns of recent 2 years to avail Mudra loan.

What are documents required for Kishore Mudra Loan?

To avail Kishore Mudra Loan, you need to submit an application form along with documents for identity proof, address proof, income proof, proof of business existence and additional documents for proof of SC/ST/Minority if applicable.

What documents could be used as age proof in Mudra Loan?

Identity and Age proof documents such as Aadhaar Card, Passport, Voter ID Card, Driving License can be used as age proof in Mudra Loan.

What are the security documents required for a Mudra loan?

To avail a Mudra Loan, you do not require to provide any collateral or third party security.


*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More