PM SVANidhi Scheme

PM Street Vendor’s AtmaNirbhar Nidhi Scheme (PM SVANidhi) is a collateral-free micro credit facility funded by the Ministry of Housing and Urban Affairs to provide loans to the street vendors/hawkers. This scheme was launched in June 1, 2020 with the objective of helping vendors/hawkers, adversely impacted by lockdown, to resume their livelihoods. Later this scheme was extended on March 2022 till December 2024 and was extended to all vendors/hawkers vending in the urban areas. The vendors are offered working capital loans under this scheme with an interest subsidy of 7% on timely/early repayments. Under this scheme, eligible street vendors and hawkers can avail working capital loans for loan amount of up to Rs 10,000 for tenure of up to 1 year in the first tranche of loan, loan amount of up to Rs 20,000 for tenures of up to 1.5 years in the second tranche of loan and loan amount of up to Rs 50,000 for tenures of up to 3 years in the third tranche of loan.

First Tranche Loan:

Loan Amount- Up to Rs 10,000;

Tenure- 1 year

Second Tranche Loan:

Loan Amount- Up to Rs 20,000

Tenure- Up to 1.5 years

Eligibility- Vendors who have done early and timely repayment of first tranche loans are eligible for second tranche of working capital loans

Third Tranche Loan-

Loan Amount- Up to Rs 50,000

Tenure- Up to 3 years

Eligibility- Vendors who availed prior two loan tranches are eligible for third tranche of working capital loans. To be eligible for the 3rd tranche of the loan, a minimum repayment period of 6 months have been set by the Union Ministry of Housing & Urban Affairs. Vendors repaying the second tranche loans in less than 6 months will have to complete the minimum repayment period to become eligible for the third tranche of working capital loans.

Applicants fulfilling the following criteria are eligible for availing PM SVANidhi scheme:

Below-mentioned are the documents required for availing loan under PM SVANidhi scheme: