Also identified as the most populated district in the country, North 24 Parganas is nothing short of the IT hub of Kolkata, drawing in a majority of the urban population of West Bengal. Renowned IT companies and MNCs like Wipro Ltd., Cognizant Technology Solutions, IBM, and TCS make for ample employment opportunities for young talent in the district.
Still, primary sources of livelihood here, besides corporate employment, remain agriculture, farming, and fishing. An increasing population contributes to new units in these existing industries, increasingly impelling business-owners to opt for a MUDRA loan in North 24 Parganas to keep up with a competitive marketplace.
The Pradhan Mantri Mudra Yojana is a flagship scheme launched by the Prime Minister on 8th April 2015 with an aim to provide financial support to non-corporate and non-farm micro and small businesses in the country. These classified loans under Micro Units Development and Refinancing Agency Ltd. or (MUDRA) are extended to eligible candidates through Small Finance Banks, MFIs, NBFCs, RRBs, and Commercial Banks, to help them prosper and bring them into the formal banking system.
In line with this scheme, residents of North 24 Parganas can avail a business loan in Dum Dum, Bidhannagar, Barasat, or any other administrative unit in this district for business establishment, growth, and expansion. Several financial institutions provide a MUDRA loan in North 24 Parganas for convenient business financing.
MSMEs can choose from three different types of Pradhan Mantri small business loan depending upon the development status and funding requirements of the enterprises. These are:
This scheme is ideal for individuals willing to launch a start-up or companies at their foundational stages and can help them acquire credit of up to Rs. 50,000.
Business-owners looking to improvise on their operations can apply for funds between Rs. 50,000 and Rs. 5 Lakhs under the Kishore MUDRA Loan Government Scheme.
For securely established entrepreneurs, the Mudra Loan Scheme North 24 Parganas offers loans beyond the 5-Crore mark up to a maximum of Rs. 10 Crores in case they want to expand their businesses further.
For more details on the scheme best suited for them, individuals can search “MUDRA Loan provider near me” and choose a lending institution of their choice to proceed.
Following are characteristic features of loans provided under the Pradhan Mantri MUDRA Yojana.
MUDRA loan subsidy is approved, ensuring its end-use aligns strictly with the business purpose it has been sanctioned for.
Depending on the lending institution, MUDRA loan interest rate in North 24 Parganas can range from 8.05% to 12%.
Enlisted financial bodies make MUDRA loan distribution among applicants who:
Besides conforming to the aforementioned parameters, individuals also need to submit the following documents to qualify for a MUDRA loan in North 24 Parganas.
The selected lender can also ask for additional documentation as and when required to assess the loan application. Also, for enterprises with funding needs of over Rs. 10 lakhs, MUDRA loan for machinery might be an ideal solution.
Worried about what other funding option can be your ideal bet?
Try opting for a loan against gold.
Besides accompanying relaxed eligibility criteria and brief documentation, gold-backed loans provide budding entrepreneurs with a hoard of other benefits such as:
Besides these, potential borrowers can avail additional advantages when opting for a gold loan from Rupeek. We are an RBI-certified organisation with an aim to make convenient funding available to more willing individuals across the country.
Within 4 years of its establishment, Rupeek has gained the trust of over 1 lakh families with a variety of loan schemes to choose from besides an array of other benefits listed below.
Rupeek offers an additional advantage over PM MUDRA loan with 30-minute instant doorstep service and approval in select locations of your area.
Following is a list of the key areas in North 24 Parganas where Rupeek extends its gold loan services.
If you are one of the many budding entrepreneurs struggling to qualify for a MUDRA loan in North 24 Parganas, consider Rupeek gold loan for instant access to funds. Apply online and get added offers on a business loan for women entrepreneurs.
Yes, with limited sources of funding available for women entrepreneurs, the PMMY MUDRA yojana aims to bring them to the formal banking stream by introducing specific facilities like reduced interest rates for female business owners.
No, one of the major advantages of MUDRA loan in North 24 Parganas is that it is collateral-free. As such, applicants do not require providing any asset as security to avail funds under the scheme.
Rupeek offers maximum loan tenure of up to 12 months for its gold loan. Borrowers can also choose to complete repayment and close the loan before the term-end without any prepayment charges.
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