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Central govt. is running variety of welfare schemes aiming to remove every obstacle in way of women entrepreneurs. Availability of capital is a major factor to promote entrepreneurship. But there is now good news for women entrepreneurs who wants to broaden their horizon and start their own business or startup. Here we are providing you the list of 9 business loan schemes for women entrepreneurs. With these scheme, women will get loans upto Rs. 25 lakh without guarantee.
Several banks are providing special loan facility at affordable rates to women entrepreneurs. A number of such schemes have been implemented by the Central Government as Woman Entrepreneur Schemes. These women empowerment schemes are helping women entrepreneurs to grow in India’s startup ecosystem.
Let’s know about such schemes which help women entrepreneurs to start their own business.
List of 9 Business Loan Schemes for Women Entrepreneurs Schemes 2020-21
Here is the list of 9 business loan schemes for women entrepreneurs 2020-21 launched to provide loans upto Rs. 25 lakh to women for their business:-
Oriental Mahila Vikas Yojana
Under this scheme, the Oriental Bank of Commerce (OBC) bank provides loans to women who individually or jointly, own a proprietary concern and holds 51% share capital. In Oriental Mahila Vikas Yojana, women entrepreneurs are given loans ranging from Rs. 10 lakh to 25 lakh for small scale industries. Accordingly, no type of guarantor is required to avail this loan and women entrepreneurs can repay their loans over a period of 7 years. Around 2% loan interest rate concession is also given to women entrepreneurs.
Under Udyogini Scheme, women b/w 18 and 45 years of age are given loans upto Rs. 1 lakh. These loans are for working in business, agriculture, retail and small entrepreneurs sector. If the annual income of a woman entrepreneur’s family is less than Rs. 45000 then only she can avail loan through Udyogini scheme. A subsidy of 30% is also provided for loans up to Rs. 10,000 to widows, destitute or disabled women of SC and ST categories.
Sukanya Samriddhi Yojana
Under SSY scheme, loans are given to women starting businesses from small enterprises. This includes tuition center, tailoring unit or beauty parlor etc. Women will also get Mudra Card at the time of granting the loan and this Mudra Card will work in the same way as your credit card and will have a limited amount of 10% of the loan amount. Moreover, the loan amount is given between Rs. 50,000 to 5 lakh. The loan amount under Tarun component of Mudra Scheme is Rs. 10 lakh.
Bharatiya Mahila Bank Business Loan
Bharatiya Mahila Bank commercial loan is for women entrepreneurs who want to start a new venture from property and SME in retail. Women entrepreneurs are given a maximum loan amount of upto Rs. 20 crores and a rebate of 0.25% is also given. The interest rate on this loan amount is usually 10.15% or more.
Under the Annapurna Scheme, women entrepreneurs who want to set up food catering industry to sell food items like packaged food, breakfast etc. In this scheme, loan of Rs. 50,000 is given to women entrepreneurs by the State Bank of Mysore. Women can pay it in monthly installments of 36 months and loan will be given to fulfill the primary needs of the female entrepreneur that is to buy utensils and other equipment.
Dena Shakti Scheme
Dena Shakti Scheme is best of for all women entrepreneurs want to grow their business in the field of agriculture, manufacturing, micro-loans, retail stores or micro enterprises and need financial support. Women entrepreneurs are given a maximum loan amount of Rs. 20 lakh for retail trade at 0.25% interest rate. This amount can be easily repaid by bank provided in the loan by monthly payment of installments by women entrepreneurs.
Cent Kalyani Scheme
If women want to start their new venture or want to revise it, then Central Bank of India gives them the benefit of the loan DHS scheme. Under Cent Kalyani Scheme, this loan can be availed by women entrepreneurs who are involved in business ventures like village, small and medium industries, self-employment, agricultural retail trade. Women entrepreneurs do not need any guarantor while taking loan and the maximum loan amount given is Rs. 1 lakh.
Mahila Udyam Nidhi Scheme
Punjab National Bank (PNB) launches Mahila Udyog Nidhi Yojana. Under this scheme, the objective is to provide loans to women enterprises involved in small scale industries. The loan amount can be easily repaid by women entrepreneurs in a period of 10 years. Different loan schemes are also included under Mahila Nidhi scheme, beauty parlor, day care center, auto rickshaw. The maximum loan amount given under Mahila Udyam Nidhi Scheme is Rs. 10 lakh.
Stree Shakti Packages
This scheme makes women entrepreneurs get discount rate in loan amount. If the loan amount of a woman entrepreneur is more than Rs. 20 lakh, then it provides a discount of 0.50% at that interest rate. This Stree Shakti Packages has been operated by the central govt. through most branches of SBI Bank.