Mudra Loan Application Form and Covering Letter Format
MUDRA loan facility has started a long back by the Indian Central Government. However people of this nation face a huge problem of applying for the loan as it needs a decent covering letter which must follow some important format. Applying for the loan with documents is easy but preparing a loan cover letter may be hard for some. Here in this article it will be discussed how to write a cover letter for Mudra Loan.
Mudra Loan Covering Letter Format
While applying for the MUDRA loan one has to submit the proper documents and a cover letter for loan. This is no joke to write a cover letter as it has handful of rules that one should know before writing it.
- Receiver: Firstly the letter must have receiver’s name. That is the concerned person you are sending the letter too. Here it must be the manager of the concerned bank.
- Date: In the next line add the date of application. It must not be older or must not have any future date. The date must be current.
- Subject: In any official or formal letter Subject line is very important. One must have mentioned the Subject or Purpose of sending the letter. Here it would be ‘Approval for Loan under MUDRA’.
- Body: Next is the Body of the letter. It is the most important section in the letter. Applicant must have mentioned everything regarding his loan and the documents he is attaching with the letter and such.
- Thanking You: Finally the ‘thanking you’ or ‘yours faithfully’ should be written. If you follow the letter will be completed without any hassle.
Documents required with Mudra Loan Covering Later
With the covering letter for loan, the applicant must submit the documents such as identity proof, residential proof, photos and business details of the applicant. One must mention about the enclosures in the letter where important documents will be mentioned.
How to get MUDRA loan application form online and offline
Application form for the loan under MUDRA will be available online as well as offline. There are 17 private banks, 27 public banks, 36 rural banks and more than 50 other non-banking financial institutions that provide loan under MUDRA scheme. In case of offline forms, the applicant can visit either of the branches.
For the online forms the applicant can visit the banking official websites to get the online copy of the application form. The online form can be found in the following link Applicant needs to submit the form with required documents and cover letter to the branches.
MUDRA loan is for the people who are poor and underprivileged. Many of the applicants are not enough educated to prepare a covering letter for loan. Here in this article a brief idea of preparing loan covering letter for MUDRA has given for references.
MUDRA stands for Micro Units Development and Refinance Agency Ltd. This is started by the central government of India. MUDRA provides small term loans to the non-corporate and non-farm sectors in India. It was started to support the small and medium scale informal industries in the nation. Under MUDRA people can apply for small amount that is less than Rs. 10 Lac. Many public and private banks have joined the scheme and provide loan in lower rates to the people in need.