udyamimitra : Apply For mudra loan / MSME / MSE / SME Loan

The Small Industry Development Bank of India (SIDBI) has launched the “Udyamimitra” portal (www.udyamimitra.in) to improve credit accessibility for MSMEs. Under the portal, entrepreneurs can apply for loans without visiting bank branches. It also has facility to upload all the necessary documents. Through the portal, MSMEs can select more than 1 lakh of bank branches, track the status of their application and take advantage of multiple loan benefits as per requirement .

What types of loans can be processed on the udyamimitra portal ?

The following business loans:

  • MUDRA loan (up to 10 lakh)
  • STAND UP INDIA Loan for SC / ST and Women: between 10 lakh and 100 lakh for green field companies (new)
  • Loans for SMEs (currently up to 200 lakh)

1. MUDRA Loans

“MUDRA loans” can be obtained from any banks… participating in the -“Pradhan Mantri Mudra Yojana” (PMMY). These include 27 known public and private sector banks, such as the State Bank of India (which is the leading bank of the scheme), Bank of Baroda, Syndicate Bank, Central Bank of India, Punjab National Bank and ICICI Bank. These schemes are available in rural banks, cooperative banks and regular banks as well.

You must prepare a business plan to submit to the bank along with your completed application form and the required documents related to identity and business. The business plan must contain the business idea, its projections for the business, the past performance if the business is already set up, the amount you need as a loan & how you plan to utilize it, etc.

You also need to know category of your business as per Mudra scheme . The Mudra Loan Plan has granted loans in 3 categories:
  1. Shishu: This is for business units that need financing to get started. You get up to Rs. 50,000 under this category.
  2. Kishor: This is for business units that have been started but that need a financial boost to establish themselves. You get between Rs. 50,000 to Rs. 5 lakh in this category.
  3. Tarun: This is for units that are already established but wish to expand their business. You get between Rs. 5 lakh to Rs. 10 lakh under this category.

The Stand-Up India program facilitates loans for businesses in commerce, manufacturing or services. In the case of non-individual companies, at least 51 percent of the shareholding & control interest must be owned by a SC / ST or a female entrepreneur. The borrower should not be in defaulter with any bank or financial institution”. This scheme facilitates Rs loans. 10 Lakhs to 1Crore.

Eligibility
  • SC / ST and / or enterprising women, over 18 years.
  • Loans under the scheme are available only for green field projects. The green field means, in this context, the first time the beneficiary ventures into the manufacturing or services or commerce sector.
  • In the case of non-individual companies, 51% of the shareholding and control interest must be owned by SC / ST and / or Women Entrepreneurs.
  • The borrower must not be in default with any bank / financial institution.
How to apply for loan under mudra

The scheme, which covers all branches of programmed commercial banks, will be accessed in three possible ways.

  • Directly at the branch
  • Through the online Stand-Up India portal (Stand – Up India
  • Through the Principal of the Main District ((LDM)

What are the schemes for the loan requirement of up to 10 lakh?

For loans below 10 lakh, banks are already granting loans under their existing schemes. In addition, MUDRA Ltd. also operates 3 schemes, namely. Shishu / kishor / Tarun through banks for loans of up to 10 lakh. Visit www.mudra.org.in for more details.

What are the credit guarantee schemes available for loans?

For MUDRA loans, Credit Guarantee Fund for Micro Units (CGFMU) (for more details, see http://ncgtc.in/en/products-n-services/cgfmu),

2.Stand Up India loan

The Government of India launched the “Stand Up India” scheme to provide financial assistance to SC / ST or women entrepreneurs. The objective of the “Stand Up India” scheme is to provide bank loans of Rs. 10 lakhs to 1 Crore at least one sc st businessman or businesswoman per branch of each commercial bank programmed in the country to establish a new business. This new business may be in the following Sector:

  • Manufacturing Sector
  • Service sector.
  • Commerce Sector

Eligibility

  • The first condition is that the delinquent must not be in default of any bank or any other financial institution.
  • sc st castes or beneficial tribe entrepreneur and businesswomen over 18 years.
  • Loans under this scheme are sanctioned only for companies in greenfield projects. Green Field means that it is the first time the beneficiary’s company in the manufacturing or service or commerce sector.
  • In the case of non-individual companies, 51% of the participation must be owned by the programmed caste or programmed tribes or businesswomen to make use of the loan under the “Stand Up India” scheme.

3.SME loan

the guarantee coverage under the Trust Guarantee Fund for Micro and Small Enterprises (for more details, see https://www.cgtmse.in/ are available

What is the udyamimitra portal?

The Udyamimitra portal of SIDBI is an enabling platform, which aims to provide ‘End to End’ solutions not only for credit delivery, but also for the credit host plus services through retention support , application tracking, multiple interface with stakeholders (ie, lenders, service providers, applicants). In addition, New Age lenders namely. Fintechs, NBFC, Small Finance Banks, MFI join the platform to improve the flow of credit to MSMEs.

How to apply for loan on udyamimitra portal?

Access the website through the portal http://www.udyamimitra.in. The portal is best viewed with Internet Explorer 10+ or   the latest version of Google Chrome or Mozilla Firefox on a desktop / laptop computer and on all portable devices.

How will I log in to the udyamimitra  portal?

Go to the login icon available in the upper right corner of the udyamimitra portal home page and select “applicant” and the same will take you to the login page. Then request a new user icon. Upon registration, the user ID and password will be sent to your registered email ID and, simultaneously, an SMS alert will be sent to the registered mobile phone number

What are the other benefits under the udyamimitra portal?

In addition to linking potential borrowers with lenders for loans, the web portal also provides retention support through a network of agencies dedicated to submitting applications / preparing reports, financial training, skills development, mentoring, tutoring programs. business development, work shed and subsidy schemes.

How does this portal help me?

The portal provides access to both financial services (1.25 lakh lenders) and non-financial services (more than 17,000 retention agencies) with three different characteristics, namely. (i) seek supportive support; (ii) select and apply for loans to preferred banks; (iii) allow faster loan processing. In addition, New Age lenders namely. Fintechs, NBFC, small financial banks, MFIs are being incorporated into the platform to improve the flow of credit to MSMEs.

I have submitted my loan application. After that, my lender has informed me to revisit the projections / security details / any other field in my application. How to do?

The portal allows you to withdraw the loan application to make the necessary changes in the application. To do so, click on the ‘Remove to reapply’ icon available next to application no. on the dashboard After withdrawing, click on ‘Complete application form’. The previously entered data would be available. Subsequently, make the necessary corrections and submit the loan application.

How will I track my application?

Each applicant has a board that is available upon login. Help complete details, edit, track applications, etc. Also once the request is sent, each time it occurs. At the time of collecting the loan application, sanction, disbursement, etc., the SMS / email alert would flow to the registered email / mobile ID.

checklist to start a new business

When you start a business and look for a loan, you should examine your background and at least have the following documents ready:

  • Proof of identity: Aadhar card / PAN card / voter identification card / driver’s license
  • Proof of status of SC / ST / OBC (as the case may be)
  • Individual declaration of returns of IT / equity of promoters / guarantor /Promoter / guarantor biodata with details of the business experience.
  • Latest passport-sized photos of the owner / partners / directors
  • Proof of residency – Latest electricity bills / phone bill / Aadhar card from Partners / Directors / Guarantors / Third party security providers.
  • UAM – Udyog Aadhar Memorandum
  • Commercial registration: GST registration / VAT registration / PAN card /
  • CIN / Stores and Certificate of Establishment Memorandum and association article, if the entity is a private / public limited entity company.
  • Quotation of suppliers of machinery / other assets
  • Bank account statement for the last 6 months, if the unit exists. If not, keep your Personal bank account statement ready.
  • Balance of the unit of the last 3 years together with tax return (ITR) and audit report (if the unit exists)
  • Details of the collateral guarantee offered.
  • Operating current account with a bank (if it exists).
  • Project report containing the cost of
  • project, financing means, expenses
  • incurred and projections along with justifiable details
  • Government approvals for power, Pollution, Construction Plan along with Documentary evidence
  • Any other document as necessary by his banker

Project report requirement

A project report is a document that accounts for the project proposal for determine the perspectives of the proposed plan / activity. The DIC and TCO can help you prepare the Project Report. You can also prepare the “Project Report” yourself with Detailed information on several points.

The project report contains detailed information on:

  • Land and construction required
  • Manufacturing capacity per year
  • Manufacturing process
  • Machinery and equipment along with their prices and specifications
  • Raw material requirements.
  • Requires energy and water.
  • Labor needs
  • market
  • Cost of the project and production.
  • Financial and techno economic analysis.
  • project viability.

Also read : How to register ,update & edit Udyog Aadhaar

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