Small businesses are playing a predominant role in the industrial economy of India. Even though small business enterprises require lesser capital resources, they generally cannot arrange total finance from their sources. The government of India has presented Pradhan Mantri Mudra Yojana (PMMY) to remove the financial obstacles of micro and small enterprises in India. As the scheme has only completed seven years, knowledge about MUDRA loans among prospective entrepreneurs needs to be analyzed deeply. Thus, this study attempts to study the awareness level of micro and small entrepreneurs about MUDRA loans. The data collected has been evaluated using statistical tools like Wilcoxon Signed Rank Test and Mann Whitney 'U' test. The study concluded that awareness about MUDRA loans among entrepreneurs is acceptable to some extent.