Bank of Maharashtra Mudra Loan

• MUDRA loan provides financial assistance to the non-corporate small business segment. 

• You need to have an active savings account with the Bank of Maharashtra to get the credit.

• The tenure of repaying this credit is flexible. You can choose a tenure between 3 and 5 years.

• It is a type of unsecured credit, thereby letting you reduce the burden of submitting any collateral.

• The interventions of the MUDRA loan are Shishu, Kishor, and Tarun, all having different credit limits.

• You can borrow credit up to a maximum of Rs. 5 lakhs under the Tarun sub-unit of this loan.

• There is no restriction on how you leverage the credit, you can use the amount whichever way you require.

• You will get a MUDRA Card, enabling you to draw credit in an efficient manner to manage working capital.

• Pradhan Mantri Jan Dhan Yojana beneficiaries will be eligible for an overdraft facility under this MUDRA loan.

• Proof of Business: Registration certificate, rental agreement or lease paper, copy of any relevant certificate of your business, Udyog Aadhaar Memorandum, etc.
  

• Last 6 months’ account statements generated by an existing banker, if any

• Unaudited balance sheets for last 2 financial years

• Income tax and sales tax returns

• Approximated balance sheet for the coming financial year

• Asset and liability record

• Photocopies of proprietor, partner, or MUDRA loan applicant (whichever is applicable)

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