Government Sponsored
Schemes:
Empowerment at the
Grassroots
Schemes:
Empowerment at the
Grassroots
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PM SVANidhi Loans
Step into the world of empowerment with the PMSVANidhi scheme. Designed to empower street vendors, PMSVANidhi offers collateral-free, small-ticket loans that propel vendors towards economic independence.
Features and Benefits
Easy access to loans up to ₹50,000
Collateral-free loans
Repayment tenure of 12-36 months
Zero processing fee
Interest subsidy up to 7% p.a. on regular repayment of loan
No franking or stamp duty charges
Competitive interest rates of 24% p.a.
PM Vishwakarma Loans
PM Vishwakarma, a flagship program of Govt Of India, aims at improving the quality, as well as the reach of products and services of artisans and craftspeople. It ensure that the Vishwakarmas are integrated with the domestic and global value chains.
1st Tranche Features and Benefits
Easy access to loans up to ₹1,00,000/-
Collateral-free loans
Repayment tenure of 18 months
Interest subsidy up to 8% p.a. on regular repayment of loan
Interest rates of 13% p.a.
FAQs
The scheme aims to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme intends to offer collateral-free working capital loans.
Street vendors, as defined by the PM SVANidhi scheme guidelines, are eligible to apply for Ujjivan's PM SVANidhi scheme.
The PM SVANidhi scheme aims to provide affordable working capital loans to street vendors with the intention to uplift their livelihood.
A street vendor or hawker is any individual vending articles, goods, or services to the public in streets, footpaths, or temporary structures. This includes a wide range of goods and services, from food items to apparel and artisan products.
Vendors who repay their loans on time are eligible for subsequent cycles of working capital loans with enhanced limits, facilitating continued support for their businesses.