Government Loan Schemes for Women Entrepreneurs

Government Loan Schemes for Women Entrepreneurs

With the rising names of many successful women entrepreneurs, India is a country to watch out. And in order to turn the dreams into reality, the Indian government is providing a financial boost by launching many schemes for women. Yes, there are many government loan schemes for women entrepreneurs, specifically designed for career-oriented women. Those who want to make big in their lives but due to lack of funds won’t be able to meet their goals. Well, not anymore. That’s Right! With the government offering many best schemes, it would be easy for such women to complete their entrepreneurship dreams.

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Mudra Yojana

One such scheme that helps aspiring entrepreneurs to start their business is Mudra Yojana. Under this scheme, financial assistance has been given in the form of business loans, encouraging women to set up small enterprises. Yes, businesses like catering, tailoring, beauty & skincare enterprises, etc can easily be opened. Available with a maximum loan amount of Rs.50 lakh, Mudra Loans are unsecured loans that are available without collateral. Avail it from many banks, NBFCs, and microfinance institutions. 

Annapurna Scheme

This scheme is offered by State Bank of Mysore and Bhartiya Mahila Bank under the provision of the government of India. Under this scheme, the funds are provided to women entrepreneurs who are in the food catering business. The maximum loan amount is Rs.50,000 which can be given for a tenure of up to 36 months.This loan amount can be used for working capital needs such as buying utensils, cutlery, appliances, etc. A guarantor is required to avail the loan with the first EMI is paid by the lender itself. 

Stree Shakti Package for Women Entrepreneurs

This amazing scheme is run by the State Bank of India (SBI), to support entrepreneurs among women. This scheme is for those women who have major ownership (say 50%) in a small business. Not only this, entrepreneurs have to be enrolled in the Entrepreneurship Development Programme (EDP) organized by their respective state agency. An interest rate concession of 0.05% on loans exceeding to Rs.2 lakh is given to the borrowers. And, no security is required for a loan amount of up to Rs.5 lakh. 

Cent Kalyani Scheme

This scheme is offered by the Central Bank of India and can be availed by both existing and new entrepreneurs and self-employed women. This scheme supports businesses like farming, handicrafts, food processing, garments, tailoring, beauty, etc. Borrowers can get a loan of up to Rs.1 crore with a margin rate of 20%. You do not require any collateral or security and it comes with a maximum tenure of 7 years. 

Mahila Udyam Nidhi Scheme

Offered by Punjab National Bank, this scheme is majorly for women entrepreneurs who want to start a small-scale venture with a loan of up to Rs.10 lakh. And, the same can be repaid within 10 years at an attractive interest rate. 

Dena Shakti Scheme

Here, a loan of up to Rs.20 lakh can be availed for agriculture, manufacturing, micro-credit, retail stores or small enterprises. A concession of 0.25% on interest rate is also offered so that repaying the loan would be easy. 

Orient Mahila Vikas Yojana Scheme

This scheme is offered by Oriental Bank of Commerce to those women who hold 51% share in the capital individually or jointly proprietary concern. No security or collateral is required for loans between Rs.10 lakh to Rs.25 lakh, given to small scale industries. The loan can be repaid within 7 years and also comes with a concession of up to 2%. 

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