Micro Units Development and Refinance Agency (MUDRA) Loans provide financial support to micro and small enterprises under three categories: Shishu (up to Rs. 50,000), Kishore (Rs. 50,001 to Rs. 5 lakhs), and Tarun (Rs. 5 lakhs to Rs. 10 lakhs).
Key Features:
- No collateral required
- Loans for working capital and business expansion
- Flexible repayment terms
- Lower interest rates compared to traditional business loans
Eligibility Criteria:
- Micro and small enterprises in manufacturing, trading, and service sectors
- Businesses involved in non-farm income-generating activities
Documents Required:
- Business plan and loan application form
- Identity and address proof
- Bank statements and GST registration (if applicable)
