PM SVANidhi: Who Qualifies and What You Get
Learn how street vendors and gig workers can access working capital loans to support their small businesses.
PM SVANidhi is a government initiative designed to provide working capital loans to help street vendors and gig workers grow or maintain their small businesses.
Who it's for
This scheme is available to street vendors and gig workers who possess a valid vending certificate.
What you get
You can access a collateral-free working capital loan. This means you do not have to provide any assets or property as security to get the funds. The loan amount can be up to ₹50,000.
What it costs you
While the loan comes with a low interest rate, you must have your Aadhaar card linked to your mobile number to complete the process.
The catch to know
To be successful in your application, you will need to obtain a Letter of Recommendation (LoR) from your local authorities.
How to apply
- Gather your vending certificate and necessary identification.
- Ensure your Aadhaar is linked to your mobile phone.
- Obtain a Letter of Recommendation from your local authority.
- Apply through the official portal: https://pmsvanidhi.mohua.gov.in/