With the aim to promote entrepreneurship among the current generation, the central government of India created the Mudra loan scheme. Its main objective was to promote and provide financial assistance to the micro and small business via financial institutions like banks and NBFC’s. It is one of the best financial options for entrepreneurs and small businesses which allows them to use the loans for a wide variety of purposes. A Mudra loan provides the much-needed funds for vendors, traders, shopkeepers and other service sector activities. It helps provide working capital loans, equipment finance, vehicle loans (for commercial use), etc.

The Mudra scheme does not directly provide the financial support to the micro and small enterprises, but provides refinance support to commercial banks, Regional Rural banks, Small finance banks, NBFC’s, etc. to finance micro and small enterprises. With many financial agencies out there to provide loan facilities, it's highly Important to choose the most trusted finance agent. TN Finance provides the best Mudra loan facility in Chennai. There are three types of mudra loans that one can choose from namely Shishu loan (provides loan up to 50000 rupees), Kishore loan (provides loan up to 5 lakhs) and Tarun loan (loan up to 10 lakhs). TN Finance is rated as the most trusted financial service provider of Mudra loans at the lowest interest rate.

Furthermore, Mudra loans can be availed only by those businesses that come under non-farm activities like generation, manufacturing, artisan, trading or service industries. TN Finance provides the best Mudra loan for small businesses at the lowest interest rate. It is a collateral free loan which can be used for a wide range of business expenses. Just visit https://www.tnfinance.in/mudra-loans-in-chennai.php or contact us to know more.

Eligibility and Documents needed for Mudra Loan

People with a minimum age of 18 years, who run or have a business plan for non-farm generating activity like small manufacturing enterprise, Artisan, processing enterprise, trading or service sector, etc. are eligible for availing mudra loan

The documents to be submitted for availing a mudra loan are identity proof which includes Aadhar, PAN card, passport, voter ID, driving license, etc. Proof of business, that confirms the businesses existence like business registration, license, partnership deed, etc. is needed. The next document needed includes an address proof and an income proof which has the complete ITRs, balance sheets for the last 2 years and bank account statements.