How to Apply for PMSVAN LOAN and Get Up to Rs. 20,000 for Your Street Vending Business


PMSVAN LOAN is a special loan scheme for street vendors launched by the Government of India in June 2020. The full name of the scheme is PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi). The aim of the scheme is to provide financial support to street vendors who were affected by the COVID-19 lockdown and help them restart their businesses.

 How much loan can you get under PMSVAN LOAN?

Under PMSVAN LOAN, you can get a loan of up to Rs. 10,000 for a period of one year. You can use this loan to buy or repair your vending equipment, pay for your rent or license fees, or meet any other business expenses. You can repay the loan in monthly installments as per your convenience.

 What is the interest rate of PMSVAN LOAN?

The interest rate of PMSVAN LOAN is very low compared to other loans. You have to pay only 7% per annum as interest. This means that if you borrow Rs. 10,000 for one year, you have to pay only Rs. 700 as interest. Moreover, if you repay the loan on time or earlier, you can get an interest subsidy of 7% from the government. This means that you can get back the entire interest amount that you paid. This makes PMSVAN LOAN a very affordable and attractive loan scheme for street vendors.

 How to apply for PMSVAN LOAN?

To apply for PMSVAN LOAN, you have to follow these steps:

– First, you have to check if you are eligible for the scheme. You are eligible if you are a street vendor who sells goods or services on the road, footpath, or any public place. You should also have a valid identity proof and a mobile number linked to your Aadhaar card.

– Second, you have to find out if you have been covered in the survey of street vendors conducted by your Urban Local Body (ULB) or Town Vending Committee (TVC). If you have been covered, you can check your name and survey reference number (SRN) on the PM SVANidhi portal. If you have not been covered, you can get a letter of recommendation (LoR) from your ULB or TVC. You can also declare that you have received one-time assistance during the COVID lockdown or that you are a member of a vending or hawkers association.

– Third, you have to choose a lender from the list of banks, microfinance institutions, or non-banking financial companies that are participating in the scheme. You can find the list of lenders on the PM SVANidhi portal or on the website of the Ministry of Housing and Urban Affairs.

– Fourth, you have to fill an online application form on the PM SVANidhi portal or through a Common Service Centre (CSC) near your locality. You have to provide your personal details, business details, loan amount, and repayment plan. You also have to upload a copy of your identity proof, survey reference number or letter of recommendation, and a photo of yourself with your vending cart or stall.

– Fifth, you have to submit your application and wait for the approval from the lender. The lender will verify your details and check your credit score. If your application is approved, the lender will disburse the loan amount to your bank account within 30 days.

 What are the benefits of PMSVAN LOAN?

PMSVAN LOAN has many benefits for street vendors. Some of them are:

– It helps you to restart or expand your business after the COVID lockdown and increase your income.

– It offers you a low interest rate and an interest subsidy, which reduces your loan burden and saves your money.

– It gives you an incentive of Rs. 100 per month for using digital payments, which makes your transactions safer and easier.

– It allows you to get a higher loan amount of up to Rs. 20,000 if you repay your first loan on time or earlier.

– It enables you to access other government welfare schemes and social security benefits, such as health insurance, pension, and education.


PMSVAN LOAN is a great opportunity for street vendors to get financial support and become self-reliant. If you are a street vendor who wants to apply for PMSVAN LOAN, you should follow the steps mentioned above and visit the PM SVANidhi portal for more information. You can also contact your ULB, TVC, or CSC for any assistance or query. PMSVAN LOAN is a scheme that can help you and your family to achieve your dreams and goals. So, don’t wait and apply for PMSVAN LOAN today!

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