PM SVANidhi Yojana (PM Street Vendor’s AtmaNirbhar Nidhi)

PM SVANidhi Yojana: Get Up to ₹80,000 Loan Without Guarantee – Here’s How to Apply Easily

If you're a street vendor, hawker, or small shop owner struggling to expand your business or restart after tough times, the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Yojana can be your turning point.

Launched by the Ministry of Housing and Urban Affairs, this Central Government scheme aims to empower small vendors by providing collateral-free working capital loans up to ₹80,000 in three stages, along with interest subsidy, credit score improvement, and digital transaction rewards.

Let’s break it down so you understand how to benefit from it step by step.

At a Glance: PM SVANidhi Scheme Highlights

Feature	Details
Scheme Name	PM SVANidhi Yojana (PM Street Vendor’s AtmaNirbhar Nidhi)
Launched By	Ministry of Housing and Urban Affairs, Govt. of India
First Loan (Initial Phase)	₹10,000 – repayable in 12 months
Second Loan (after repayment)	₹20,000 – repayable in 18 months
Third Loan (after repayment)	₹50,000 – repayable in 36 months
Interest Subsidy	7% per annum (credited quarterly)
Guarantee	No guarantee required
Mode of Application	Online or through ULBs/CSC centers
Target Beneficiaries	Street vendors, hawkers, footpath sellers

Who is Eligible?

To apply for the PM SVANidhi loan, you must meet the following conditions:

• You should be a street vendor or run a small stall/shop in urban, semi-urban, or rural areas.
  
  
• Must have been vending on or before March 24, 2020 (during the COVID-19 lockdown).
  
  
• You should possess a Certificate of Vending or Letter of Recommendation (LoR) from the Urban Local Body (ULB).
  
  
• You should be aged 18 years and above.
  
  

Loan Disbursement: Three Phases of Financial Assistance

The scheme is structured in three stages:

First Loan: ₹10,000

• No collateral required.
  
  
• Repayable in monthly EMIs over 12 months.
  
  
• On-time repayment makes you eligible for the second loan.
  
  

Second Loan: ₹20,000

• Offered only after successful repayment of the first loan.
  
  
• Repayable in 18 months.
  
  
• Continued digital transactions and prompt EMIs improve credit score.
  
  

Third Loan: ₹50,000

• Final level support for those who repaid the first two loans.
  
  
• Repayable in 36 months.
  
  
• Helps in expansion and stabilization of your business.
  
  

Additional Benefits

• 7% Annual Interest Subsidy
  Credited to your bank account quarterly. If you repay on time, your effective loan interest is very low.
  
  
• Cashback on Digital Transactions
  If you make digital payments using UPI, QR codes, or wallets, you may receive monthly cashback up to ₹100.
  
  
• Build Your Credit Score
  Timely repayments are reported to credit bureaus, helping vendors become eligible for bigger loans in future.
  
  

Documents Required

You’ll need the following documents while applying:

• Aadhaar Card
  
  
• Voter ID or any other address proof
  
  
• Bank passbook
  
  
• Mobile number linked with Aadhaar
  
  
• Vendor ID or ULB-issued Letter of Recommendation
  
  
• Passport-size photograph
  
  

Step-by-Step Application Process

Offline Method:

1. Visit your nearest Municipal Office, Urban Local Body (ULB), Common Service Centre (CSC), or designated bank branch.
   
   
2. Submit your basic details and documents.
   
   
3. ULB officials will verify and issue a Letter of Recommendation (LoR) if you don’t have a vending certificate.
   
   
4. After verification, the bank will disburse the loan amount to your account.
   
   

Online Method:

1. Go to the official PM SVANidhi Portal – https://pmsvanidhi.mohua.gov.in
   
   
2. Click on “Apply for Loan” and fill in your Aadhaar number.
   
   
3. Upload your documents and verify through OTP.
   
   
4. Submit the application and await approval.
   
   
5. Track your status on the portal.
   
   

Performance So Far

• Over 65 lakh street vendors have benefitted from the scheme.
  
  
• More than ₹8,000 crore has been disbursed in loans.
  
  
• High repayment rates and digital adoption are encouraging signs that the scheme is creating impact.
  
  

Why This Scheme Is a Game-Changer

• Helps small vendors become self-reliant without depending on private lenders or daily debt.
  
  
• Encourages financial literacy and inclusion through digital payments and credit linkage.
  
  
• Prepares vendors to be part of the formal economy and access future government schemes.
  
  

Final Thoughts

The PM SVANidhi Yojana is not just a loan—it’s a lifeline for millions of micro-entrepreneurs in India. Whether you're a tea seller, vegetable vendor, cobbler, or any roadside stall owner, this scheme ensures you can restart, rebuild, and grow your livelihood without the stress of heavy interest or collateral.

So if you're looking to give your small business a new start, this is your chance. Apply, repay, and upgrade to higher financial independence—one loan at a time.

Official Website to Apply:
https://pmsvanidhi.mohua.gov.in