Satish of Tamil Nadu from PM Mudra Yojana gave a new flight to furniture business, know how

Under the Pradhan Mantri Mudra Yojana (PMMY) of the Government of India, set up to provide incentives to small and micro enterprises, the owner of a furniture shop in Awadi, Tamil Nadu, Satish has taken his business to the best position by taking loans at low interest. Satish has taken loans from 50 thousand to 3 lakh rupees in three installments to increase his business.

Satish said that he was running a small furniture shop for the last 10 years, but was not able to expand his business due to financial problems. He tried to receive loans from banks several times, but he did not get any success, however, when he got information about the PMMY scheme, he decided to take advantage of this scheme. After this, he got a loan at a low interest rate, which proved to be very beneficial for his business.

Satish said that he had initially taken a loan of Rs 50,000, which later increased to Rs 1 lakh. Currently, he has received a loan of Rs 2 lakh through PMMY scheme. He said that with this loan I expanded my business and now I am able to provide more customer service. After taking advantage of the scheme, Satish said about his success and said that this scheme is proving to be very helpful for small businesses and he advised other small business owners to take advantage of this scheme.

Explain that Pradhan Mantri Mudra Yojana (PMMY) is an important financial initiative launched by the Government of India, which aims to provide cheap and easy loans to micro, small and medium enterprises (MSMEs). The scheme was launched on 8 April 2015 and its main objective is to provide financial assistance to small entrepreneurs such as shopkeepers, artisans, and self -employment to start or expand their business. There are three categories of loan under this scheme: baby (up to Rs 50,000), teenager (from Rs 50,000 to Rs 5 lakh), and Tarun (from Rs 5 lakh to Rs 10 lakh). The beneficiaries of this scheme can be small entrepreneurs of non-corporate, non-agricultural sector. Such as fruit-vegetable sellers, sewers, small manufacturers and people associated with the service sector. The loan is provided by banks, microfinance institutions, non-banking financial companies (NBFCs) and other financial institutions, and it usually requires no collateral. In addition, a currency card is also issued to the beneficiaries, which they can use to withdraw their loan amount and need their business needs.

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