PM SVANidhi Scheme 2026: ₹10,000 Collateral-Free Loan, Eligibility & How to Apply

At a glance

About the scheme

PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a central sector micro-credit scheme launched by the Ministry of Housing and Urban Affairs to help informal urban vendors recover and grow their businesses. The initiative offers affordable, collateral-free credit along with a 7% interest subsidy and zero processing fees. By incentivising digital transactions with monthly cashback, it seeks to formalise street vending and assist vendors across all States and Union Territories in climbing the economic ladder.

Benefits

• Collateral-free working capital loan of up to ₹10,000 for the first cycle.
• Access to subsequent higher loan limits of ₹20,000 and ₹50,000 upon timely repayment.
• Interest subsidy of 7% credited to lower the borrowing cost.
• Cashback incentive of up to ₹100 per month for conducting digital transactions.
• Zero processing fee for loan application and disbursal.
• Flexible one-year repayment tenure in monthly instalments.
• Freedom to utilise loan funds for raw materials, inventory, rent, or equipment.

Who can apply (eligibility)

• Street vendors possessing a Certificate of Vending or Identity Card issued by Urban Local Bodies (ULBs).
• Vendors identified in municipal identification surveys who have not yet received a certificate or card.
• Vendors left out of municipal surveys or who started vending later, holding a Letter of Recommendation (LoR) from the ULB or Town Vending Committee (TVC).
• Vendors from peri-urban or rural areas vending within ULB geographical limits who hold a Letter of Recommendation from the ULB or TVC.
• Street vendors who operated their business for at least one year prior to 24th March 2020.

Who cannot apply

• Individuals who are not street vendors or lack valid ULB identification, survey references, or Letters of Recommendation.
• Applicants seeking to apply multiple times for the first-term loan.

Documents required

• Certificate of Vending or Vendor Identity Card (for Category A and B vendors).
• Letter of Recommendation issued by the ULB or TVC (for Category C and D vendors).
• Aadhaar Card linked with an active mobile phone number.
• KYC document such as Voter Identity Card, Driving Licence, MNREGA Card, or PAN Card.
• Bank Account Passbook or Account Statement copy.
• Proof of membership in a vendor association or supporting documents substantiating vendor status.
• Loan Closure Document (required when applying for the second loan tranche).

How to apply

1. 1Visit the official PM SVANidhi portal at pmsvanidhi.mohua.gov.in and click on the Log In button.
2. 2Enter your Aadhaar-linked mobile number, solve the captcha, and verify using the one-time password (OTP).
3. 3Select your street vendor category and enter your mandatory Survey Reference Number (SRN).
4. 4Fill out the online loan application form with your personal, business, and banking details.
5. 5Upload required identity and vending verification documents and submit the application.

Frequently asked questions