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The MUDRA scheme provides loans for vendors, traders, shopkeepers and other service sector activities. So if you are in need of funds for your hardware shop you can avail a loan under the MUDRA scheme. MUDRA schemes provide funds of up to Rs. 10 lakhs. According to the amount you need you can choose your MUDRA loan scheme categories: Shishu, Kishore or Tarun.
If you are planning to open a hardware shop, you can borrow a Shishu loan, where it covers up to Rs. 50,000. Shishu loans are usually provided to borrowers who are looking forward to beginning a startup or opening a shop. If you are looking forward to buying new gadgets or making small renovations in your shop you can go for the Kishore category, which covers loans above Rs. 50,000 and up to Rs. 5 lakhs. And if you are looking to expand your business, you can take loans above Rs. 5 lakhs and up to Rs. 10 lakhs.