How to avail loan with Udyog Aadhar?

Introduction

If you are an entrepreneur and want to start your own business then don’t worry about the investment, now the government has launched many schemes under which you can take benefits of loan on low-interest rates. If you are an entrepreneur then you should obtain an Udyog Aadhar number so you will get many benefits under various government schemes. Availing a loan through Udyog Aadhar is very easy, first, you have to obtain an Udyog Aadhar number and then you can apply for a loan. This article talks about the Udyog Aadhar, its registration and how you can get a loan with Udyog Aadhar so you will get an idea about this.

What is Udyog Aadhar?

Government of India launched Udyog Aadhar in 2015 to simplify the procedure of Micro, Small and Medium Enterprises registration (MSME registration). Before Udyog Aadhar, the procedure of  MSME registration was tough and now it is very easy to register a business under Ministry of MSME through Udyog Aadhar. Udyog Aadhar is a unique digital number which is allotted by the Ministry of Micro, Small and Medium Enterprises and it is a recognition certificate so your business will be recognized as MSME. It can be obtained by every type of entity whether it is HUF or a company or a sole proprietorship firm. Udyog Aadhar registration is very important because without this you may not able to get benefits under various government schemes. After obtaining Udyog Aadhar you will get many benefits like a loan on low-interest rate, tax rate deduction, subsidy under various government schemes. If you want to obtain a loan on low-interest rate from bank then you must have an Udyog Aadhar number.

How to obtain Udyog Aadhar?

Process of Udyog Aadhar registration is very easy and simple, you can register your business under Udyog Aadhar by filing a Udyog Aadhar memorandum and you can apply for Udyog Aadhar memorandum through the online procedure for which you have to visit the official website of Udyog Aadhar. After the opening of the website, you have to enter your Aadhar number and your name and then you have to click on validate & generate OTP, then you will get an OTP on the registered phone number. After entering that OTP, a new web page will open and then you have to fill your business details like name of the business, category of business, place of business, and other details. Then you have to enter your bank details and IFSC code of bank also. You must have a bank account during the registration of Udyog Aadhar because a bank account is a must for Udyog Aadhar registration. After filling of all details, you have to accept the declaration of the memorandum and then you can submit your Udyog Aadhar memorandum. After a few days, you will get your Udyog Aadhar certificate.

How to avail loan?

You can apply for a loan after obtaining your Udyog Aadhar for your business. There are many various government schemes under which you can apply for a loan. First thing you have to do is, get ready your all documents. During the filing of an application for a loan, you need to attach documents like Identity Proof, Project report of business, Category of person, Business Identification Proof, Bank Statement, photograph, and other documents. After getting ready your documents, you can apply for a loan. You have to fill an application form for a loan and submit to the bank, the bank will examine your documents and they will give you a loan. You can also apply for MUDRA loan, it is a government scheme which provides loan to small businesses on low-interest rate or without any interest. You can apply for a loan up to 10 lakh rupees under MUDRA schemes. So if you are thinking of availing a loan from bank then you should search a bank which gives you a loan on low-interest rate so you have to pay less for interest.

Conclusion

It is very hard to start a business without money but there are banks who are giving loan to small businesses on low-interest rate, as you can see in the above-given article that you can get on loan on the low interest rate if you have a Udyog Aadhar number. Udyog Aadhar is the registration of business under Ministry of MSME and it is very easy to obtain a Udyog Aadhar, as you can see above you have to fill a Udyog Aadhar Memorandum for obtaining a Udyog Aadhar number and it can obtain through online procedure. After obtaining Udyog Aadhar number, you can fill your application for a loan and the bank will give you a loan. You can also apply for a loan under MUDRA scheme and get a loan up to 10 lakh rupees. So you should think about the above-given things.

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