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PM Svanidhi
Background :
We have implemented Star Hawkers Atmanirbhar Loan (SHAL) scheme based on PM street Vendors Atmanirbhar Nidhi (PMSVANidhi) for all the Street Vendors engaged in vending in urban area.
Facility Type :
- Fund Based- Working Capital Demand Loan (WCDL)
Purpose :
- To restart the business, which otherwise has halted due to COVID-19 pandemic.
PM Svanidhi
Eligibility:
- The Scheme is available to all street vendors (SV) engaged in vending in urban areas. The eligible vendors will be identified as per following criteria
- Street vendors identified in survey and in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs);
- The Vendors, who have been identified in the survey but have not been issued Certificate of Vending / Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform by ULBs.
- Street Vendors, left out of the ULB-led identification survey or who have started vending after completion of the survey and have been issued Letter of Recommendation (LoR) to that effect by the ULB / Town Vending Committee (TVC); and
- The vendors of surrounding development/ peri-urban / rural areas vending in the geographical limits of the ULBs and have been issued Letter of Recommendation (LoR) to that effect by the ULB / TVC.
PM Svanidhi
Loan Amount:
- 1st Loan - ₹15,000 (Min loan amount: ₹5,000) - Repayable in 12 EMIs
- 2nd Loan - ₹25,000 (Min loan amount: ₹15,000) - Repayable in 18 EMIs
- 3rd Loan - ₹50,000 (Min loan amount: ₹30,000) - Repayable in 36 EMIs
Margin:
- NIL
Processing/ Upfront Fee
- Nil
Features:
- Minimum Age : 18 years
- Low rate of interest
- Pre-payment is allowed without any penalty or cost.
- No Security Required
- Credit Score report Not required
- Udyam Registration Not required
- Project Proposal Not required
- Insurance Not required for 1st & 2nd loans (Optional for 3rd loan)
- Minimum Documentation.
Security:
- Hypothecation of stocks/Goods, No collateral to be obtained.
- CGTMSE graded Guarantee Cover available on portfolio basis.
Processing Fees / Guarantee Fee Payable:
- NIL
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