Business loans available for women

March 30, 2016 Finance Talk Valli Sarvani No comments

The emergence of Indian women as entrepreneurs has been increasing in India over the past few years. In the initial stages of establishment financial assistance is needed. There are certain schemes to help Indian women financially to sustain in their businesses. Here is a list.

Annapurna scheme helps women who want to serve in the category of food including tiffin, lunch etc. The age of applicant should be between 18 to 60 years. One can obtain a maximum amount of Rs.50,000 under this scheme. The EMI can be paid in 36 months and one month moratorium period is there. Interest rate is as per the market. Collateral is essential to get the loan.

Stree Shakthi scheme is aimed to aid women by offering some concessions. The firm should have over 50 per cent of share capital owned by women to avail the scheme benefits. No security is essential for loan amounts under Rs.5 lakh. For certain categories, the margin will be reduced by 5%. If the loan amount exceeds Rs.2 lakh, interest rate will be reduced by 0.5%.

Cent Kalyani scheme is available in Central bank of India. One can get up to Rs.100 lakhs under this scheme. No Third party Guarantee is required since the advance is covered by CGTMSE’s guarantee. The loan amount can be used to meet capital expenditure and day-to-day expenditure.

Bharatiya Mahila bank is established to help entrepreneurial needs of women. The bank offers various loans for categories like beauty, food catering, day care centres etc.

Dena Shakti scheme provides loans of up to Rs.20 lakhs. The loan amount varies for each sector.

Udyogini scheme provides loan amounts of up to Rs.1,00,000. The age limit ranges from 18-45 years. But, the family income should be below Rs.40,000/- per annum for all women except widows, destitute and disabled women. Subsidy is available for this scheme.

Mahila Udyam Nidhi scheme assists women to establish new projects in small scale sector. The maximum loan amount available under this scheme is up to Rs.10 lakh. It can be repaid within 10 years including moratorium period which is not more than five years.

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