On the basis of loan amount, Mudra Loans have been categorized in to three categories:
A. Shishu (for loan amount up to Rs. 50,000.00), B. Kishor (for loan amount above Rs. 50,000.00 to Rs. 5,00,000.00), and C. Tarun (for loan amount above Rs. 5,00,000.00 to Rs. 10,00,000.00).
Although, the schemes are different, banks require few common documents to be submitted for each category of loan, with obviously some more documents are needed to be submitted for Kishor and Tarun Category Loans. As loan amount for Shishu category loans are limited up to Rs. 50,000.00 only, banks require lesser number of documents for this. Scheme wise comprehensive list of documents, that are asked by the Banks, are given below:
Common for all the three categories - You can prepare your checklist from these documents which you need to submit along with your PMMY application, in all the three categories, Shishu/Kishor/Tarun loans.:
1. Your Identity Proof - A document which establishes your identity, or your name. Banks accept following documents, generally, as an identity proof - Copy of Voter’s ID card, Driving License, PAN Card, Aadhar Card, Passport, Job Card (MNREGA Card), etc. Any one of these is sufficient. You can submit more than one document also if you want to do so, or if it is asked by the bank.
2. Proof of Residence - Recent telephone bill, or electricity bill, or property tax receipt (not older than 2 months), or LPG Passbook, or Voter’s ID card, or Aadhar Card or Passport. Again, any of these is sufficient but, it must have the address that you are mentioning on the application form and where you are residing at present. If your present address is different from your permanent address, financing Bank may ask for address proof for that also.
3. Proof of SC/ST/OBC/Minority - it is not a mandatory document, and it is collected by the banks only for statistical purpose. However, I would suggest you to submit this with your application if you have this.
4. Proof of Identity/Address of the Business- For this submit copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity, and address of your business unit, which may be your shop, or your office, or factory. I am giving you some illustrative list of documents depending upon the type of constitution of your business, that are asked by the banks, in which type of constitution, what kind of documents are needed :
A. Individuals - Your identity proof, and address proof as mentioned in Point No. 1 and 2. A copy of your trade registration certificate obtained from local municipal office, and a copy of electricity bill of the premises where you are running the business, or want to run. If the premises where you want to run the business is on rent, then a copy of rent agreement along with a copy of electricity bill, if it is leased then lease document accompanied with a copy of electricity bill.
B. Proprietorship Concerns - A copy of the identity proof, and the address proof, of the proprietor, as mentioned in Point No. 1 and 2. A copy of the trade registration certificate obtained from local municipal office, and a copy of electricity bill of the premises where the business is being run, or will be run. For rented premises, a copy of rent agreement along with a copy of electricity bill, and for the premises on lease, lease document accompanied with a copy of electricity bill.
C. Partnership Firms - Certificate of Incorporation A copy of the identity proof, and the address proof of all the partners, as mentioned in Point No. 1 and 2. A copy of the partnership deed, a copy of the trade registration certificate obtained from local municipal office, and a copy of electricity bill of the premises where the business is being run, or will be run. For rented premises, a copy of rent agreement along with a copy of electricity bill, and for the premises on lease, lease document accompanied with a copy of electricity bill.
D. Private Limited Company - Certificate of Incorporation, Article of Association, Memorandum of Association, List of Directors, Resolution, a copy of the identity proof, and a copy of residence proof of the Director who has to sign the loan documents as per resolution.
5. Statement of accounts - You should obtain statements from your existing banker, if any. You should submit the statements of your personal account as well as your business account if you have both types of accounts.
6. Your recent photograph - You will need to submit your recent photographs. The number of photographs required, may defer from bank to bank. From minimum two to maximum five is sufficient, but I will suggest you to please keep few more photos with yourself, if in any case few more is asked, then you will be able to submit it.
7. Quotation/Proforma Invoice of machinery/equipment - You should obtain quotation of machinery, or the equipment, or whatever goods that you want to purchase for business purpose from Mudra loan. Quotation can be obtained from the sellers of those machinery, equipment or the goods. For obtaining quotations you can also reach online sellers, at websites like Indiamart, Alibaba, etc.
But for applying You should not be a defaulter in any Bank/Financial institution. This is a very important condition.
Additional Documents Required For Kishor And Tarun Category Loans
Comments
Post a Comment