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Top 8 Small Business Loans for Women in India

Sugandh Bhatnagar
Sugandh Bhatnagar
Women Entrepreneurs

We are in the 21st century and the women of this century are nowhere behind the men in any aspect. A lot of women have started entering the business world to earn bigger and better. In order to further increase the number of women entrepreneurs there are various schemes that offer business loans at attractive interest rates.  We are in the 21st century and the women of this century are nowhere behind the men in any aspect. A lot of women have started entering the business world to earn bigger and better 

Shree Shakti business loan by SBI: 

  • The loan in the form of term loan or working capital can be provided under the Stree Shakti package. The quantum of loan provided would be on the borrower profile  

  • This loan is offered by most of the SBI branches to women entrepreneurs who have at least 50 % share in the ownership of a firm or a business. 

  • To avail this loan you do not require any collateral for loan of up to Rs 10 Lakh. However, collateral is a must for any collateral for any loan above Rs 1 crore or based on the borrower profile.

  • Interest Rate: 11.20% onwards 

Bhartiya Mahila Bank business loans: 

  • You can claim for a business loan of up to 20 Crores under this scheme. The loan is given against property.

  • This loan is for women entrepreneurs looking to start new ventures in the fields of retail and manufacturing. 

  • No collateral is required for loan up to Rs 1 Crore.

Annapurna scheme by State bank of Mysore: 

  • It applies to women entrepreneurs who want to start a food catering business or unit. Under this scheme they can avail a loan of up to Rs 50,000 which is to be repaid in monthly installments for 36 months.  The interest rate depends on the market.

  • The EMI will not have to be paid for the first month. This loan amount can be utilized to purchase the kitchen essentials, utensils, gas connections, raw materials, water filters etc. 

  • For this loan you must pledge the assets of your business as collateral security along with a personal assurance from a guarantor.

  • Age limit: 18 to 60 years

Synd Mahila Shakti Scheme by Syndicate Bank: 

  • Under this scheme, the bank grants financial assistance to women entrepreneurs for those who are engaged in small business, professional or self employed and retail trade through credit facilities. 

  • To start a new business, the bank offers a loan amount of up to Rs 5 Crores at a concessional rate of interest to the women entrepreneurs.

  • The scheme is available as either a cash credit to meet the working capital requirements of new and existing business units or as a term loan scheme of up to 10 years.

Cent Kalyani Scheme by Central Bank of India: 

  • This loan is offered by central bank of India with the aim of supporting women. Women who 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 is required, No guarantor or processing fees.

  • The maximum business loan that can be granted under this scheme is Rs 100 Lakhs.

 Dena Shakti Scheme by Dena Bank: 

  • This scheme is a scheme for financing to women entrepreneurs rendered by Dena Bank. Under this scheme, women looking forward to initiating their businesses in sectors such as micro credit, manufacturing, agriculture, retail and more would receive loan benefits.

  • A maximum of Rs 20 lakh loan can be availed under this scheme.

  • It is a combination of the term loan and working capital. 

  • Women entrepreneurs are eligible for 25% concessional rates in the loan.

Mahila Udyam Nidhi Scheme by Punjab National Bank: 

  • This scheme is for supporting the women entrepreneurs involved in small scale industries. A maximum of Rs 10 Lakh of loan can be availed under this scheme.

  • The business loan under this scheme can be repaid over a period of 10 years. 

Mudra Yojana for Women:

This scheme is launched by Government of India for individual women wanting to start small new enterprises and businesses like beauty parlours, tailoring units Tuition centres etc., as well as group of women wanting to start a venture together. No collateral is needed for this scheme as well. 

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Hey! I am Sugandh Bhatnagar. Did you liked this article and have suggestions to improve this article? Mail me your suggestions and feedback.

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