PM SVANidhi
🏛️ Ministry of Housing and Urban Affairs
Collateral-free working capital loan with interest subsidy on timely repayment and digital-transaction cashback.
About the Scheme
PM SVANidhi is a micro-credit facility for street vendors. A vendor may take a small collateral-free working capital loan, and on timely repayment becomes eligible for a larger amount in the next cycle. Interest subsidy is available on prompt repayment, and cashback is offered for digital transactions, so the scheme also builds a formal credit record for vendors who previously had none. 🔗 Official Resources: • Official Portal: https://pmsvanidhi.mohua.gov.in
📄 Documents Required
- ✓Bank Passbook CopyFirst page showing account number and IFSC details
- ✓Certificate of VendingVending certificate or identity card issued by the Urban Local Body to a street vendor
- ✓Aadhaar CardUnique identification document
🚀 How to Apply
Step 1:Obtain Vendor Identification
Get the certificate of vending or vendor identity card from the Urban Local Body; surveyed vendors without one can obtain a provisional letter.
Step 2:Apply Online or at a CSC
Apply on the PM SVANidhi portal or through a Common Service Centre with Aadhaar and a linked mobile number.
Step 3:Lender Verification
The application is routed to a lending institution, which verifies the vendor record before sanction.
Step 4:Repay on Time for the Next Cycle
Repay in monthly instalments to earn the interest subsidy and qualify for a larger loan in the next cycle.