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The Indian government is helping small street vendors become financially independent through the PM Svanidhi Loan Scheme. Under this scheme, eligible beneficiaries can get a loan of up to ₹50,000 without any collateral. If you’re a small vendor looking for financial support to grow your business, this government-backed scheme could be your best opportunity.

What Is PM Svanidhi Loan Scheme?

The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched to help street vendors restart and expand their businesses post the COVID-19 pandemic. It offers micro-loans at low interest rates, backed by the government, and includes incentives for digital transactions and timely repayments. The scheme is implemented by the Ministry of Housing and Urban Affairs (MoHUA) and provides working capital in a structured and phased manner.

Who Can Apply for the PM Svanidhi Loan?

Any street vendor who was active before March 24, 2020, and possesses a valid ID from their Urban Local Body (ULB), or is verified through a Letter of Recommendation (LoR) can apply. Vendors from urban, semi-urban, and rural areas who operate stalls or carts in public spaces are all eligible. This includes vendors selling vegetables, fruits, tea, clothes, and other daily-use items.

Loan Amount and Benefits

Initially, vendors can avail a loan of ₹10,000 with a repayment period of 12 months. Upon successful repayment and regular digital transactions, they become eligible for a second loan of ₹20,000 and then a third loan of ₹50,000. These loans are collateral-free and come with interest subsidies of 7% per annum. Borrowers who repay on time and use digital payments may also receive cashback incentives.

How to Apply for PM Svanidhi Loan Scheme

Applicants can apply online through the official PM SVANidhi portal at pmsvanidhi.mohua.gov.in. You can also apply through Common Service Centres (CSCs), municipal offices, or lending institutions such as banks and NBFCs. The application requires Aadhaar card, voter ID, vendor certificate or LoR, and bank account details.

Once documents are submitted, the application is verified by the concerned authority. If approved, the loan is disbursed directly to the beneficiary’s bank account, often within a few days.

Documents Required for PM Svanidhi Loan

You need to provide your Aadhaar card, proof of vending (like a vendor ID card or LoR), and a valid bank account linked to your Aadhaar. In some cases, you may also be asked for a recent photograph or a business-related utility bill to support your application.

Final Words

The PM Svanidhi Yojana has already benefited over 50 lakh vendors across India and continues to be one of the most accessible government loan schemes for self-employed individuals. If you are looking for a way to expand your small business or need working capital, this ₹50,000 loan can help you achieve financial freedom. Apply today and take a confident step toward self-reliance.

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