- Useful loans for women entrepreneurs
- Four loans to raise funds
Government Start-up Schemes
In the past two to three years, the business of entrepreneurs has been expanding in India. Every business needs funds to grow and the Indian government has launched some programs for women. These programs help them raise funds to run their start-ups and this also helps women entrepreneurs keep morale up.
‘Stand up India’ is the initiative of this entrepreneur who will help provide equity loans. These loans help in meeting the credit requirements. The only female entrepreneurs can take advantage of this scheme, especially women of programmed castes and tribes.
Read also: https://www.theworldwomennews.com/technology-and-innovation/business/dare-to-be-an-entrepreneur-unlock-the-secrets-of-success/
The minimum loan is ₹ 10 lakh and ₹ 1 crore is the maximum loan provided through this scheme. But the loan search processes required the borrower to have a guarantor. The loan seeker does not need collateral.
The “Union Nari Shakti” scheme of the central government
The “Union Nari Shakti” scheme is provided by the Union Bank of India. This scheme is beneficial for small and medium-sized businesses. Loan seekers under this scheme are expected to have 51% stake in the company.
This pattern can be very meaningful for female entrepreneurs. This can be useful for buying, building or renovating a factory, office or warehouse. This scheme can also be useful for purchasing plant, machinery and other equipment.
A minimum of ₹ 2 lakh and a maximum of 2 crore are borrowed through this scheme. The repayment period is 84 months. The bank can also ask for guarantees.
Most popular loan search scheme for Start-ups
‘Udyogini Scheme’ and ‘Bank Sakhi Shakti’ are more in function. Female entrepreneurs across India benefit greatly from these two central government schemes. The “Udyogini Scheme” is available under specific conditions.
Borrowers should be businesswomen between the ages of 25 and 65. The borrower’s family income must be less than 1.5 lakh per year. This scheme aims to promote startups of under-marginalized women or low-income rural women.
Under this scheme, the borrower will receive 3 lakh of run to run their cottage business. Another scheme most used for female entrepreneurs in India is “IDFC FIRST Bank Sakhi Shakti”. Under this scheme, the bank will provide credit and savings solutions. This will provide advancement in subsistence loans for rural women.
Content Detailer: Swati- Content Writer – The World Women News
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