9 Schemes Exclusively Available for Women Entrepreneurs

female Bank loan schemes

In this world of constant racing, for a long-time, women were left behind. But times have changed and women are head-to-head with their male counterparts. In every field women have advanced and have seen tremendous growth.

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In the entrepreneurship side of the business world, women are popping up slowly. Women entrepreneurs have battled all struggles and have made sure that their innovation and ideas stood proudly. For some women entrepreneurs, money has been an obstacle towards building a successful business empire. To help women cross this hurdle, there are various schemes and loan programmes coming up with a different and flexible set of terms and conditions to help women entrepreneurs achieve their dream. Here is a list of such schemes exclusively available for these tycoons.

  1. Stree Shakti Package for Women Entrepreneurs

SBI provides a unique scheme for women entrepreneurs which gives them loans up to Rs 5 Lakh with no security requirement. The interest rates are also lowered, for loans exceeding Rs 2 lakh, by 0.5 per cent. This scheme is valid for women who have at least 50% share in the ownership of a firm or business and have taken part in the state agencies run Entrepreneurship Development Programmes (EDP).

  1. Annapurna Scheme

This scheme is for all the women entrepreneurs who wish to set up food catering business to sell packed meals. State Bank of Mysore provides this loan and the amount granted can be used to buy utensils and other equipment. A maximum of Rs 50,000 can be provided by the bank which has to be paid in 36 monthly installments.

  1. Mahila Udyam Nidhi Scheme

With a maximum amount of Rs 10 Lakhs, Punjab National bank provides this scheme to support women involved in small scale industries. The loan amount can be paid over 10 years and the interest rate purely depends upon the market rates. The bank also provides different plans in the scheme for beauty parlours, day care centres etc.

  1. Dena Shakti Scheme

Dena bank provides a maximum loan amount of Rs 20 Lakhs and reduces the interest rate by 0.25% for all the women entrepreneurs in need of financial assistance. The bank provides Rs 50,00 under micro credit as well.

  1. Cent Kalyani Scheme

To support women in starting a new venture, Central bank of India gives up to Rs 100 lakhs to women involved in cottage industries, small enterprises and agriculture related activities. The best part about this scheme is that no collateral security or guarantor is required. The bank does not charge any process fees as well.

  1. Bharatiya Mahila Bank Business Loan

For women looking to venture into retail sector this loan is an ideal support system. This scheme gives a whopping amount of Rs 20 crores to women looking into manufacturing industries. A concession of 0.25% on the interest rate is also given. No collateral security is required for a loan up to Rs 1 crore.

  1. Orient Mahila Vikas Yojana Scheme

Oriental Bank of Commerce provides a scheme for women who hold at least 51% of share in a company. The bank doesn’t require a collateral security for loans up to 25 Lakhs. The loan can be repaid in 7 years and a concession of 2% is given on interest rates.

  1. Udyogini Scheme

For women entrepreneurs involved in Agriculture and other small businesses, Punjab and Sind bank provides a loan up to 1 Lakh for women aged between 18 to 45. For SC/ST women, a loan of Rs 45,000 per annum is also given out.

  1. Mudra Yojana Scheme For Women

This scheme by the Government of India doesn’t require any collateral security and can be availed as per 3 schemes-

  1. Shishu – A loan amount of Rs 50,00 is provided to businesses at an initial stage.
  2. Kishor – Maximum of Rs 5 lakhs are provided to a well-established enterprise run by women.
  3. Tarun – An amount of 10 lakhs can be availed by well-established businesses looking for further expansion.
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If you want to venture into the entrepreneur side and money is what was stopping you, then you should approach these banks to avail their flexible schemes which will surely help you to build your dream business from scratch.

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    Jurgen

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