9 Business Loans for Women Entrepreneurs in India

Over the past few years, there has been a drastic change in the role of women in the country. Women are now entering the world of business which was once dominated by men. There are millions of women entrepreneurs in the country and they are making the country proud. India needs more women entrepreneurs to grow financially, socially and culturally. In order to promote women entrepreneurs in the country, there are 9 Women business loan options specially designed for women in India. Let us take a look at them.

  1. Annapurna scheme: The loan is offered to women who are into food catering industry. The loan amount can be used to purchase kitchen tools, equipment and utensils. It is a secured loan and the maximum loan amount is Rs. 50,000. There is a tenure of 36 months and no EMI is to be paid for the first month. 
  1. Bhartiya Mahila Bank Business Loan: This loan is for women entrepreneurs and is given against the hypothecation of a property. There is a maximum loan amount of Rs. 20 crores and is for women who are looking to start new ventures in manufacturing and retail. 
  1. Stree Shakti Package for Women: The Stree Shakti Package is offered by the branches of SBI to women who have a minimum of 50% share in the ownership of a business. Where the loan amount is more than Rs.2 lakh, the interest rate will be reduced by 0.50%. Applicants should have taken part in the Entrepreneurship Development Program run by the state agency. 
  1. Dena Shakti Scheme: The loan offered under Dena Shakti Scheme is for women entrepreneurs in the field of retail, manufacturing, agriculture, micro credit and small enterprises. The maximum loan amount is Rs. 20 lakh for retail trade. 
  1. MUDRA Yojana: The scheme is offered to women wanting to start new enterprises like tuition centers, beauty parlors etc. The loan amount ranges from Rs. 50,000 to Rs. 10 lakh and no collateral is required for the same. 
  1. Orient Mahila Vikas Yojana: Offered by the Oriental Bank of Commerce, the loan is for women who have a 51% share in a business. There is no security required for loans of Rs. 10 lakhs to Rs. 25 lakhs and the repayment period is 7 years. 
  1. Mahila Udyam Nidhi Scheme: Launched by Punjab National Bank, this scheme has a tenure of 10 years and is suitable for different businesses like daycare centers, purchase of two wheeler, cars, etc. The maximum loan amount is Rs. 10 lakhs. 
  1. Cent Kalyani Scheme: The Cent Kalyani Scheme is offered by the Central Bank of India and it supports women in starting a new business. The loan is ideal for women involved in village and cottage industries, agriculture and allied activities, government sponsored programs etc. The maximum loan amount is Rs. 100 lakhs and there is no requirement of a security or a guarantor. 
  1. Udyogini Scheme: The maximum loan amount for women aged between 18 to 45 years is Rs. 1 lakh and the loan has flexible terms and concessional rate of interest. It is offered by the Punjab and Sind bank. 

These loans not only help women start their own business but also provide complete support in the expansion of their business. 

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