PM SVANidhi (collateral-free loans for street vendors)
Government of India (Ministry of Housing and Urban Affairs)
Overview
A central scheme that gives urban street vendors affordable working-capital loans. It was launched in 2020 to help vendors affected by the COVID-19 pandemic restart their businesses.
The first loan is collateral-free, up to Rs 15,000. Vendors who repay on time can get higher loans of up to Rs 25,000 and Rs 50,000 in later tranches. Timely repayment earns a 7% per annum interest subsidy, and digital transactions earn cashback.
The scheme runs through Urban Local Bodies, Town Vending Committees, banks, NBFCs, microfinance institutions and Common Service Centres. Apply on pmsvanidhi.mohua.gov.in or through the municipality or a CSC.
At a glance
- Administering authority
- Government of India (Ministry of Housing and Urban Affairs)
- Scheme type
- Business & Finance, Employment & Skills
- Place of posting / area
- All India
- Application mode
- Online and offline
- Important dates
- Applications accepted year-round
Benefits
- Collateral-free first loan of up to Rs 15,000
- Higher loans of up to Rs 25,000 and Rs 50,000 after timely repayment
- 7% per annum interest subsidy on timely repayment
- Cashback for digital (UPI/QR) transactions
- Entry into formal banking and a credit history for future loans
- Less dependence on moneylenders
Eligibility
For urban street vendors. Generally eligible:
- Vending in urban areas on or before 24 March 2020
- Identified in the Urban Local Body survey, or holding a vending certificate/licence
- Recommended by the ULB or Town Vending Committee
- Vendors from peri-urban or rural areas who vend within urban limits
- Economically weaker vendors — hawkers, fruit and vegetable sellers, artisans, service providers
Required documents
- Identity proof
- Vending certificate/licence or ULB/TVC recommendation
- Bank account details
How to apply
Where to apply: ULB office or Town Vending Committee; banks, microfinance institutions or NBFCs; Common Service Centres; or the pmsvanidhi.mohua.gov.in portal.
Steps:
- Register on the portal or apply through the ULB/CSC
- The ULB verifies your identity and vending status
- The loan application goes to the lender, which sanctions the loan
- The loan is paid directly to your bank account
- Repay in monthly instalments; the interest subsidy is credited periodically
- After repaying, you can take the next, larger loan
Last updated: 1 Nov 2026
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