Mudra loans provide the best support for the development of micro enterprise sector in Chennai, Tamil Nadu. With the bloom of many micro and small businesses and enterprises in the country, there is been numerous financing options like MSME and MUDRA Loans that provide the best opportunity for the businesses to grow with ease. TN Finance provides the best Mudra loans in Chennai, Tamil Nadu. Mudra loans can be availed from any NBFC’s, commercial banks, small finance banks and RRB’s with ease. We at TN Finance are rated as the top providers of the best collateral-free loans with flexible tenures in Chennai, Tamil Nadu.
Mudra loan scheme or Pradhan Mantri Mudra Yojana was launched in 2015 and is characterized into three types depending on the loan amount, they are Shishu Yojana offering loans up to RS. 50,000, Kishore Yojana providing loans up to Rs. 5 lakhs and Tarun Yojana provides loans up to Rs. 10 lakhs. We at TN Finance provide the best Mudra loan that best fits your needs in a timely manner. Our clients are numerous and trust us irrevocably for our top-rated Mudra loans and financial solutions in Chennai, Tamil Nadu.
Some of the most prominent features of mudra loan are
Mudra loan is one of the best financial support extended to small businesses which can be used in a variety of ways that lead to income generation and job creation. They provide business loans to vendors, traders, shopkeepers and other service sector activities. It helps provide working capital loans, equipment finance, vehicle loans (for commercial use), etc.
A mudra card is a debit- ATM card issued against the MUDRA loan account for the working capital loan. This Mudra card helps the borrower to make multiple withdrawals and credits, to manage the working capital limit efficiently and to minimize the burden of interest. It also aids in the digitization of MUDRA transactions and the creation of a credit history for the borrower. The card can be used throughout the country for making transactions from any ATM and can also make payments through any Point of Sale machine.
Usually, a MUDRA loan can be used to buy transport vehicles like autorickshaws, 3 wheelers, 2 wheelers, e-autos, taxis, tractors, trolleys, etc. These vehicles are used strictly for commercial purposes only.
Mudra loans can be obtained by businesses or services that involve community activities, social and personal services. Examples of these activities include salons,beauty parlours, gymnasiums, dry cleaning, tailoring, DTP, medical shops, courier agencies, etc.
For those businesses that are related to the food sector like papad making, achaar, jam/jelly making, bakers, sweet shops, food stalls, catering services, cold chain vehicles, cold storage, ice making units, ice cream shops, etc.
Mudra loan mainly applied by businesses that are related to textile enterprises which include handloom, power loom, khadi activity, zari work, traditional embroidery, handwork etc. it also helps provide financial support to businesses, that involve traditional dyeing, painting, apparel design, knitting, cotton ginning, etc.
Though mudra loan is not eligible for those working in the agricultural sector, it can be availed by people doing business in agriculture related activities like pisciculture, apiculture, poultry, livestock rearing, agro-industries, diary, fisheries, food processing, etc.