To facilitate the growth of Women Various Business Loans for women enterpreneurs in india offered exclusively to promote women entrepreneurship. Business Loans are the need of every single entrepreneur. There are over 8 million women entrepreneurs in India, with Tamil Nadu having the highest share.
The role of women has changed drastically in the past few years for the better. A lot of women are entering the business to earn bigger and better. India needs more Women Entrepreneurs to grow economically, socially and culturally. Women constitute around half the total (48%) Indian population but their participation in the economic activities is only 25%. To facilitate this growth, better access to finance has been offered especially for women in India.
Here is a list of various small business loans offered exclusively for women to promote women entrepreneurship.
1. Loan Under Annapurna Scheme
This business loan Offered by State Bank of Mysore. Available for women who’re setting up the food catering industry in order to sell packed meals, snacks, etc. The loan amount must be used to buy utensils and other kitchen tools and equipment. Under this business loan, you must pledge the assets of your business as collateral security along with a personal assurance from a guarantor. You will get up to a maximum amount of ₹50,000 which has to re-paid in monthly installments for 36 months. You don’t have to pay EMI for the first month. But the interest rate depends upon the market.
2. Stree Shakti Package For Women Entrepreneurs in India
Stree Shakti Business Loan Offered by most of the SBI branches to women entrepreneurs who have at least 50% share in the ownership of a firm or business. Also, you should have taken part in the state agencies run Entrepreneurship Development Programmes (EDP). If the Business loan amount is more than ₹2 lakhs, the interest will be reduced by 0.50%.
3. Bharatiya Mahila Bank Business Loan
As Women entrepreneur you can claim for Business Loan up to ₹20 crores in this scheme. This Business loan will be given against property. This is a Business loan for women entrepreneurs looking to start new ventures in the fields of the retail sector, manufacturing industries. But there is no requirement of collateral security for this Business loan of up to ₹1 crore.
4. Business Loan Under Dena Shakti Scheme
Offered by Dena bank to those women entrepreneurs in the fields of like agriculture, manufacturing, micro-credit, retail stores, or small enterprises. So a maximum Business loan of ₹20 lakhs for retail trade will be given to you under this scheme.
5. Business Loan Under Udyogini Scheme
Offered by Punjab and Sind Bank to provide women entrepreneurs involved in like agriculture, retail, and small business enterprises. This Business loan has flexible terms and concessional interest rates. So the maximum amount of Business loan under this scheme for women is ₹1 lakh, if the age bracket is 18-45 years
6. Business Loan Under Cent Kalyani Scheme
This Business loan Offered by the Central Bank of India with the aim of supporting women in starting a new business or expand an existing one. This Business loan can be availed by you if you are involved in village and cottage industries, Like micro, small and medium enterprises, self-employed women, agriculture and allied activities, retail trade, and government-sponsored programs. No collateral security required, no guarantor needed, no processing fees. The maximum Business loan that can be granted under the scheme is Rs. 100 lakhs.
7. Women Enterpreneur Loan Under Mahila Udyam Nidhi Scheme
This Business loan scheme is launched by Punjab National Bank and aims at supporting the women entrepreneurs involved in the small scale industries. These Business loans can be repaid over a period of 10 years. There are different plans for beauty parlors, daycare centers, purchase of auto-rickshaws, two-wheelers, cars, etc. The maximum amount granted under this scheme is ₹10 lakhs. Interest depends upon the market rates.
8. Loan Under Mudra Yojana Scheme For Women Enterpreneur
This scheme is launched by the Govt. of India for individual women wanting to start small new enterprises and businesses like beauty parlors, tailoring units, tuition centers, etc. as well as a group of women wanting to start a venture together. So No collateral needed.
There are 3 schemes under this Yojana–
Shishu – Business loan amount is limited to ₹50,000 for businesses that are in their initial stages.
Kishor – Business loan amount ranges between ₹50,000 and ₹5 lakhs for the well-established enterprise.
Tarun – Business loan amount is ₹10 lakhs for purpose of expanding the business.
9. Orient Mahila Vikas Yojana Scheme For Women Enterpreneur
This scheme is provided by Oriental Bank of Commerce to those women who hold a 51% share capital individually or jointly in a proprietary concern. No collateral security is required for Business loans of ₹10 lakhs up to ₹25 lakhs in case of small-scale industries and the period of repayment is 7 years. A concession on the interest rate of up to 2% is given.
These are the loans for women’s to start business in india.