If you have an idea of ​​employment, if you want to be a job giver instead of a job. That is, you want to build your own business. The government is helping such people in every way. Whether the employment is small or big, you have dreamed, but due to financial constraints, you are unable to move, then the central government is ready to help you. You can take a loan according to your need. The central government is running many schemes for self-employment.

Mudra loan

MUDRA loan is launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in . Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

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Standup India Scheme: The Standup India Scheme was launched on 5 April 2016 to encourage Scheduled Castes, Tribes and Women Entrepreneurs. The objective of this scheme is to promote entrepreneurship at the grassroots level with special focus on economic empowerment and employment generation. Loans worth more than 25 thousand crores have been sanctioned under this scheme.

A plan of the Modi government to establish the backward sections of the society in the business world seems to be successful. The number of beneficiaries under this scheme has increased to more than one lakh. Now this scheme has also been extended till the year 2025. Under this, loans ranging from Rs 10 lakh to Rs 1 crore can be provided to the eligible beneficiaries. 

MSME loan

MSME stands for micro, small and medium enterprises, sometimes it is also shortened to SME for small and medium enterprises. But, in essence, MSME and SME Loans are the same and are offered to businesses that fall under these two categories. Mostly, these loans are given to startup owners, small business owners and women entrepreneurs on a short-term basis. The duration of MSME / SME loans varies from lender to lender. As MSME loans are unsecured MSME / SME Loanss, there are some minimum eligibility requirements in order to reduce the risk for lenders.

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PM SVANidhi

Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme intends to facilitate collateral free working capital loans of up to INR10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.