Business Loans for Women by NBFCs: A Step Towards Womens’ Empowerment

For a long time, the stereotype has been that women are meant only for household work. Some consider that women are only good in the kitchen, while others think it is a bad omen for women to venture beyond the four walls of the home. Fortunately, times are changing. 

Banks and Non-Banking Financial Companies (NBFCs) offer various business loans for women entrepreneurs. These loans are aimed at supporting women who are willing to break the chains of traditional gender roles and strike out on their own. Many financial companies have launched different loan schemes that offer benefits such as discounts, flexible repayment options, lower EMIs, etc., specifically for women.

Characteristics of business loan for women entrepreneurs

• Several different types of loans to choose from

• Accessible secure and unsecured financing options

• Ideal for women entrepreneurs' short and long term funding needs

Here are some inspiring stories of women entrepreneurs who have taken Her Vikas business loans for women from Kinara Capital:

1. Sivachandra was able to develop her ready-to-cook food production business and hire 12 more women because of Kinara Capital's help.

One of Kinara Capital's main goals is to assist female entrepreneurs in expanding their businesses. This is accomplished through their HerVikas initiative, which offers business loans for women who own and operate small enterprises. Sivachandra, who has been running Sri Aarusuvai Food Products, a ready-to-cook food production company, for ten years, took advantage of the opportunity.

2. After starting out as a garment factory helper, Shyamala expanded her business and launched two new apparel companies with Kinara Capital's support.

Shyamala had spent a few years as a textile factory worker, but she always had higher ambitions. She had a desire of founding her clothes manufacturing firm, which she was able to turn into a reality with her little garment company. The company needed to expand, but Shyamala couldn't come up with the funds to do so. She couldn't get a loan since no one would back her up.

Shyamala contacted Kinara Capital for a business loan, and she became one of their HerVikas borrowers. She used the money from the loan to expand her business and launch two new clothing lines, making it bigger and better than before. “Becoming a business owner is not easy”, she said, adding,  “It brings me great satisfaction to say that it is due to Kinara Capital that I have attained this milestone. Now I can proudly proclaim that I am the owner of a HerVikas company."

3. Geetha was able to upgrade to three machines with the help of Kinara Capital's collateral-free HerVikas loans, providing her business a much-needed boost.

When the rubber manufacturer where Geetha worked offered to bring her orders if she formed her own firm, she did just that. She went from being a factory worker to becoming a proud company owner when she founded Suki Rubber Products, which manufactures rubber for autos, mills, and pump manufacturing. She started with only four female employees, but Geetha and her husband worked tirelessly to add machinery and expand the firm.

When one of Geetha's machine dealers told her about Kinara Capital, another opportunity presented itself. Her business was booming, so she could promptly pay off her loan and ask for another. “We took a second loan and bought another machine. Business is booming now that we've upgraded to three computers. We are overjoyed”, she said.

As a woman entrepreneur, you can avail asset purchase loan or a working capital loan to strengthen your business. NBFCs like Kinara Capital give special discounts to encourage women to grow their business.