PM SVANidhi — Street Vendor Loan Scheme

What is PM SVANidhi?

PM SVANidhi (Pradhan Mantri Street Vendor's AtmaNirbhar Nidhi) is a government scheme to give small loans to street vendors. If you sell vegetables, fruits, chai, food, clothes, or any goods on the street — this scheme is for you.

The government gives you a working capital loan so you can grow your business. The best part? You get 7% interest subsidy — meaning the government pays part of your interest!

How Much Loan Can You Get?

PM SVANidhi gives loans in 3 stages (tranches):

👉 You start with ₹10,000. Pay it back on time, and you can get ₹20,000 next. Pay that back, and you can get up to ₹50,000!

Who Can Apply? (Eligibility)

You can apply for PM SVANidhi if:

• ✅ You are a street vendor (selling goods or services on the street)
• ✅ You were vending on or before 24 March 2020
• ✅ You have a Vending Certificate from your city/town municipality
• ✅ OR you have a Letter of Recommendation (LoR) from the Urban Local Body (ULB)
• ✅ You have an Aadhaar card
• ✅ You have a bank account

Who counts as a street vendor? Anyone who sells goods on the street — vegetable sellers, fruit sellers, chai wallahs, food stall owners, cobblers, barbers, laundry workers, pan shops, and more.

Benefits of PM SVANidhi

1. ₹10,000 to ₹50,000 loan — No big paperwork, easy process
2. 7% interest subsidy — Government pays 7% per year of your interest directly to your account
3. Digital payment cashback — Use digital payments (UPI, etc.) and get up to ₹1,200 per year as cashback
4. No collateral needed — You don't need to give any property or gold as security
5. Build your credit score — Timely repayment helps you get bigger loans in the future

Documents Required

Keep these documents ready before you apply:

1. Aadhaar Card (linked with mobile number)
2. Vending Certificate or Letter of Recommendation from ULB
3. Bank account details (passbook or cancelled cheque)
4. Passport size photo
5. Mobile number (registered with Aadhaar)

How to Get a Vending Certificate

If you don't have a vending certificate yet, don't worry. Follow these steps:

1. Go to your nearest Municipal Corporation / Nagar Palika / Town Panchayat office
2. Ask for a Vending Certificate application form
3. Fill the form with your details — name, Aadhaar number, what you sell, where you sell
4. Submit along with your Aadhaar copy and photo
5. The Town Vending Committee (TVC) will verify your details
6. If you are a genuine street vendor, they will issue you a Vending Certificate or a Letter of Recommendation (LoR)

💡 Tip: Many ULBs now issue LoR directly through the PM SVANidhi portal. Ask your local municipal office about this.

How to Apply for PM SVANidhi Online (Step by Step)

Step 1: Go to the Official Website

Open pmsvanidhi.mohua.gov.in in your phone or computer browser.

Step 2: Click on "Apply for Loan"

On the homepage, look for the "Apply for Loan" button and click it.

Step 3: Enter Your Mobile Number

Enter your mobile number linked with Aadhaar. You will get an OTP. Enter the OTP to verify.

Step 4: Fill Your Details

Fill in your personal details:

• Full name (as per Aadhaar)
• Aadhaar number
• Category of vending (what you sell)
• Address where you vend

Step 5: Upload Documents

Upload your:

• Aadhaar card photo
• Vending Certificate or LoR
• Bank passbook first page photo

Step 6: Choose Your Bank

Select the bank where you want to receive the loan. You can choose from:

• Public sector banks (SBI, PNB, etc.)
• Private banks
• Regional Rural Banks
• Cooperative Banks
• NBFCs & MFIs

Step 7: Submit Application

Review all details and click Submit. You will get an application reference number. Save this number!

Step 8: Wait for Approval

Your application goes to the ULB for verification, then to the bank for approval. This usually takes 15-30 days.

How to Check Application Status

1. Go to pmsvanidhi.mohua.gov.in
2. Click on "Know Your Application Status"
3. Enter your application number or mobile number
4. Your current status will be shown — pending, approved, or disbursed

Repayment Terms

• Repayment period: 12 months from the date you get the loan
• EMI: You can pay in monthly instalments
• Early repayment: You can pay back early — no penalty
• Interest subsidy: 7% per annum subsidy is credited to your bank account every quarter
• On-time repayment bonus: If you repay on time, you become eligible for the next (bigger) loan

Digital Payment Incentive — Get ₹1,200/Year Cashback

The government wants to encourage digital payments. If you use UPI, BHIM, or any digital payment for your business:

• Do at least 50 digital transactions per month
• You will get ₹100 cashback per month (₹1,200 per year)
• Cashback is credited directly to your bank account

💡 Tip: Ask your customers to pay via UPI. It's easy and you earn cashback!

ULB Recommendation Process

If your city does not have a Town Vending Committee survey, the Urban Local Body (ULB) can give you a Letter of Recommendation (LoR). Here's how:

1. Visit your nearest Municipal Corporation / Nagar Palika office
2. Tell them you want LoR for PM SVANidhi
3. They will verify that you are a genuine street vendor
4. The ULB officer will issue you the LoR
5. Use this LoR to apply for the loan online

Important Tips

• 🔒 Never pay any agent or middleman to apply. Application is 100% free
• 📱 You can apply from your own mobile phone — no need to visit any office
• 🏦 If the bank rejects your application, you can apply again
• 📞 For help, call the PM SVANidhi helpline or visit your nearest Common Service Centre (CSC)

Frequently Asked Questions (FAQ)

Q: I don't have a vending certificate. Can I still apply? A: Yes! Your ULB (Municipal Corporation) can issue a Letter of Recommendation (LoR). Go to your local municipal office and ask for it.

Q: Is there any processing fee? A: No. There is no processing fee for PM SVANidhi loan.

Q: Can I apply if I already have another loan? A: Yes, you can apply for PM SVANidhi even if you have another loan.

Q: What if I can't repay on time? A: Try your best to repay on time. Late repayment means you won't get the interest subsidy and won't be eligible for the next bigger loan.

Q: I live in a village. Can I apply? A: PM SVANidhi is mainly for urban areas (cities and towns). If you vend in a town or city, you can apply. Rural vendors can check the Mudra Loan scheme instead.

Related Schemes You Should Know

• Mudra Loan — Get up to ₹10 lakh loan for small business without collateral
• e-Shram Card — Register as an unorganised worker and get accident insurance of ₹2 lakh

PM SVANidhi is run by the Ministry of Housing and Urban Affairs (MoHUA), Government of India. For the latest information, always visit the official website: pmsvanidhi.mohua.gov.in