Check Out The Loan Schemes in India for Women Entrepreneurs
With some of the best key features of the financial aid provided by the government of India. Women entrepreneurs can take up space in the business world. Start-up ventures and entrepreneurship are not new for women.
To spur the further growth of the business, there are various options to get a loan schmes for women. Here are some of the best schemes that any women entrepreneur can take up to flourish their business.
List of the best loan schemes for women entrepreneurs in India
Women who involved with the food or catering business can take up loans under this scheme. They can avail of a loan amount UP to 50000 INR. One can use the amount for working capital requirements, including buying hot cases. Utensils, mixture grinders, working tables, and many more. Once the loan approved, the lender does not have to pay the first month EMI. After sanctioning the loan amount, the borrower needs to repay the loan in 36 monthly installments. The interest charged for this loan for women also determined based on the market rate.
Stree Shakti Yojana
This scheme supports the women entrepreneurs by providing them with certain concessions. Any woman who has the majority of the ownership in a particular business. That can take up the loan under this scheme. The woman needs to enrolled under the Entrepreneurship Development Programme. It offers concessions in the interest rate up to 0.05% on the principal amount. It is applicable only if the amount exceeds above 2 lakh.
Bharatiya mahila Bank business loan
As per this scheme, women entrepreneurs can get a loan amount of up to 20 crores INR. You can use this loan for expanding the business, working capital requirement, and manufacturing enterprises. There are various plans under this scheme.
It can applied by various homemakers or self-employed women who are planning to start their businesses. Or women who have an already existing. Business needs funds to meet the business’s daily expenses can take up this loan. The borrower did not have to provide any collateral as security for taking this loan.
If any woman wants to set up any daycare, creche can take up this loan. They can get an amount of up to 1 crore INR. Similar to the previous scheme, the woman did not have to pay any collateral security.
Women food entrepreneurs between the age of 18 years to 60 years can take up. This kind of loan to expand their small food business. If any woman wants to start up any food business can take such a loan. In every banking financial institution, one requires collateral. But in this government scheme, the women entrepreneurs did not have to provide any collateral as security.
The Government of India introduced such schemes to motivate and promote women entrepreneurship among the backward class and poor sector. This scheme provides financial support to the women for indulging in any business fervor. The scheme helps and supports illiterate women living in backward areas and spaces.
Women entrepreneurs can take up the personal loan for self-employed from any financial institution. They can avail of this loan at a very attractive interest rate. Before taking the loan amount, these entrepreneurs must go through the various lenders and their terms and conditions. They can use the fund for undertaking various operations, including expanding business, buying high value. Acquiring various other companies, processing equipment on new machinery, and many more.
These loans for women are collateral-free loans. It indicates that they did not have to put their assets online to finance their business financial needs. However, you can apply for such a Loan Schemes in an online mode. You can also various pre-approved offers on such instant loans and tend to without offering security.