Documents Needed for Mudra Yojna | Documents Needed for Applying Mudra Loan

Now the basic question while opting for Mudra Loan is what are mudra loan documents required?, mudra loan documents sbi, mudra loan documents list, etc. Documents required differ from different categories of Mudra Loan i.e. Shishu, Kishore and Tarun. We have given the detailed mudra loan documents list below which is category-wise list.

Documents Required for Shishu Loan

Following are the documents required for Shishu loan

• Duly filled in Pradhan Mantri Mudra Yojana Application Form
• 2 passport size photos of the borrower i.e. applicant / Proprietor / Partners / Directors not older than 6 months
• Photo Identity Proof (any one: must be self certified copy): Passport, Driving License, PAN Card, Post Office ID card, Bank Account Passbook containing the photo with verification by the concerned Bank official, photo ID card issued by the Ministry of Home Affairs of Centre/ State Governments, any Government issued picture ID card
• Address Proof (any one: must be self certified copy): Aadhar card, Voter's ID card, water bill, latest electricity or latest landline bill, Property tax receipt, Passport of Individual / Proprietor / Partners, Certificate issued by Govt. Authority/Local Panchayat / Municipality, etc.
• Proof of SC/ST/OBC/Minority, if applicable
• Proof of Identity / Address of the Business Enterprise: Copies of relevant Licenses, Registration Certificates, lease or Rent agreement, Other Documents pertaining to the ownership, identity of address of business unit, Udyog Aadhaar Memorandum, etc.
• Certificate of Incorporation or Memorandum of Association or Recognized Partnership Deed or Business License
• Last 12 months Bank Statement
• Quotation of Machinery / other items, to be purchased
• Any other document as required by the lender, if needed

Documents Required for KISHORE or TARUN

Following are the documents required for Kishore mudra loan and Tarun mudra loan

• Duly filled in Pradhan Mantri Mudra Yojana Application Form
• 2 passport size photos of the borrower i.e. applicant / Proprietor / Partners / Directors not older than 6 months
• Photo Identity Proof (any one: must be self certified copy): Passport, Driving License, PAN Card, Post Office ID card, Bank Account Passbook containing the photo with verification by the concerned Bank official, photo ID card issued by the Ministry of Home Affairs of Centre/ State Governments, any Government issued picture ID card
• Address Proof (any one: must be self certified copy): Aadhar card, Voter's ID card, water bill, latest electricity or latest landline bill, Property tax receipt, Passport of Individual / Proprietor / Partners, Certificate issued by Govt. Authority/Local Panchayat / Municipality, etc.
• Income Proof
• Proof of SC/ST/OBC/Minority, if applicable
• Proof of Identity / Address of the Business Enterprise: Copies of relevant Licenses, Registration Certificates, lease or Rent agreement, Other Documents pertaining to the ownership, identity of address of business unit, Udyog Aadhaar Memorandum, etc.
• Certificate of Incorporation or Memorandum of Association or Recognized Partnership Deed or Business License
• Last 12 month's Bank Statement
• Last 2 years Income Tax Return Document
• Business Vintage Proof
• Proof of continuity of business
• Trade references
• Ownership Proof or Office and Residence: Recent telephone bill, recent electricity bill, property tax receipt (not older than 2 months), Aadhar Card, Voter's ID Card, Passport of Proprietor/ Partners/ Directors
• Rent Agreement, in case of rented office and residence
• Any other document as required by the lender, if needed

Apart from above documents, the applicant needs to submit a well defined Business Plan as well. Business plan is a plan that outlines the loan's purpose and expected outcomes. It is required for the following reasons.

Clarity of Vision: A well-structured business plan explains your business goals, your business strategies and the steps which you will take to achieve them. This will help the lender in understanding your vision and also the potential of your business.

Financial Projections: Business Plan also incorporates detailed financial projection like expected sales revenue, various static and variable expenses in the business and profit margins. This will help lenders assess the financial viability of your business and your ability to repay the loan in timely manner.

Risk Assessment: Business plan identifies potential risks and how you plan to handle these risks. In the business plan you explain in details about all the risks that the business may come across by considering various scenarios and your strategies to handle such risk and challenges.

Loan Utilization: Your business plan also show as to how you want to use the loan amount. Lenders need to know that the funds will be utilized effectively to grow the business and in generating the returns.

Note: The above list of documents is only indicative in nature and not complete. Additional documents be obtained as per necessity on merit of each case, depending upon the local requirements. This is a list of documents required under Mudra Loan covering all the categories. Actual documents required with the application form may vary on case to case basis, i.e. whether the borrower is individual, proprietor, partner, company, etc. The main point to be noted is that the applicant should not be a defaulter in any Bank/Financial institution.