In such a situation, the central government has started the 'PM Svanidhi Yojana' to help the lorry-challenged people and to enable them to start their work a second time. For this scheme, the government provides loans ranging from Rs 10,000 to Rs 50,000 to roadside stalls and small traders.
Loans are available without any guarantee
Loans under PM Svanidhi Yojana do not require any kind of loan guarantee. This is a collateral free loan (Collateral Free Loan) i.e. a free business loan without guarantee. This is proving to be a great scheme for street vendors. These loans can be taken repeatedly by street vendors to grow their business. First of all you get a loan of Rs 10,000. You can repay this loan every month. This is the time you get to repay the loan
Let it be known that in this special scheme launched by the Modi government, the street vendors get enough time to pay the loan (Loan for Street Vendors). Once you take the loan, you can repay it in 12 months i.e. 1 year. You can repay this loan in monthly installments if you wish. For that you must have aadhar card.
Application Process for PM Swanidhi Yojana
You can apply for this scheme by going to any government bank.
You go to the bank and fill the PM Swanidhi Yojana form.
Attach a copy of Aadhaar along with this.
After that the bank will approve your loan.
You will get the loan money in installments.
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