EnterpriseNational SchemeOngoing
PM SVANidhi — Street Vendor AtmaNirbhar Nidhi
Collateral-free working capital loans of Rs 10,000 to Rs 50,000 for urban street vendors with 7% interest subsidy and cashback rewards.
Ministry of Housing and Urban Affairs
What you get
Tiered loan scheme for street vendors:
Tier 1 (Initial loan): Rs 10,000
- No collateral required
- 7% interest subsidy per annum (credited to account)
- Repayment period: 1 year (12 EMIs)
- Digital transactions rewarded with up to Rs 1,200 cashback per year
Tier 2: Rs 20,000 (on timely repayment of first loan)
Tier 3: Rs 50,000 (on timely repayment of second loan)
Additional benefits:
- Credit guarantee through PM SVANidhi Vendor Credit Guarantee Trust
- Financial literacy training
- Digital onboarding on payment platforms
Apply at: Nearest bank (SBI, UCO Bank, Canara Bank, etc.), Microfinance institutions, or online at pmsvanidhi.mohua.gov.in
Who can apply
Street vendors who were vending in urban areas before March 24, 2020 (COVID lockdown). Must have identity card from Urban Local Body (ULB) or recommendation from Town Vending Committee. Covers vendors selling vegetables, fruits, ready-to-eat food, tea, books/stationery, garments, footwear, etc.
Documents required
General
- Aadhaar card
- Bank account details
- ULB vendor identity card or Town Vending Committee recommendation letter
- Mobile number for OTP
Scheme code: PM-SVANidhi