Money for your businessloan with subsidyChecked Oct 2026
PM Vishwakarma (for artisans and craftspeople)
Training with a daily stipend, money for tools, and two collateral-free loans at a low interest rate for carpenters, tailors, barbers, potters, cobblers, masons and other traditional trades.
First loan
Up to ₹1 lakh, 18 months
- For
- People working with their hands in 18 traditional trades
- Second loan
- Up to ₹2 lakh, 30 months
- Interest you pay
- 5% a year
- Toolkit grant
- ₹15,000 as e-vouchers
- Training stipend
- ₹500 a day
What to know
- Both loans are collateral-free. The government pays the lender the interest above 5%, up to a cap.
- Basic training runs 5 to 7 days and advanced training 15 days or more.
- You receive a PM Vishwakarma certificate and ID card, and ₹1 for each digital transaction up to 100 a month.
- The 18 trades include carpenter, blacksmith, goldsmith, potter, cobbler, mason, tailor, barber, washerman and fishing-net maker.
How to apply
- Register through a Common Service Centre with Aadhaar, a mobile number, bank details and your ration card.
- Your application is verified at the gram panchayat or urban local body, then at district level.
- Complete the basic training; the toolkit voucher and first loan follow.
Ask before you apply
We could not confirm these points. Terms change, so ask and get the answer in writing.
| Ask | Where to ask |
|---|---|
| Is my trade on the list, and can I apply if a family member already has? | The Common Service Centre or pmvishwakarma.gov.in |
| Does an earlier Mudra or PMEGP loan bar me? | The bank branch. One source says a similar loan in the past five years disqualifies; we could not confirm it. |
Other ways to raise money
- Mudra loanCollateral-free business loans in four slabs
- PMEGPLoan with subsidy for new units
- PM SVANidhiStreet vendors and hawkers in towns
- CMEGP (Maharashtra)Residents of Maharashtra starting a new unit
- Stand-Up IndiaSC, ST and women starting a new enterprise of some size
- CGTMSE guaranteeAny micro or small enterprise that has no property to pledge
- Self-help group creditWomen in rural self-help groups
- Microfinance loanLow-income households with no collateral
- Gold loanAnyone with gold ornaments who needs money quickly
Sources
Scheme terms change by government order and differ between banks. Confirm everything with the bank or the scheme office before you commit money. Checked Oct 2026.