How to avail mudra loan

To avail a Mudra loan under the Pradhan Mantri Mudra Yojana (PMMY), follow these steps:

• Identify a lender: Approach a public or private sector bank, Regional Rural Bank, NBFC, or Micro Finance Institution.
• Select a category: Choose from Shishu (up to ₹50,000), Kishor (₹50,001 to ₹5 lakh), or Tarun (₹5,00,001 to ₹10 lakh) based on your business stage.
• Submit documents: Provide a completed application form along with identity proof, address proof, and business registration details.
• Wait for processing: The lender will verify your documents and creditworthiness before sanctioning and disbursing the loan.