Empowering the Growth of India Inc. through Business Loans For Women

Inclusion and diversity in every sector of Indian society are crucial to bringing economic benefits to everyone at every rung of financial status. Also, organizations such as CredFlow can help you generate significant and fulfil all of your capital requirements!

Introduction

Business loans are essential for a company to raise capital and expand its revenue sources. Whether for the machinery or increasing the workforce, you need tangible capital. Therefore, women entrepreneurs are always at a disadvantage because of the patriarchal nature of the business landscape. So, the government of India set up schemes and business loans specifically for women, ensuring that there is a level playing field without the discrimination of gender. 

Interest Rate Subsidies 

The first step the Indian government took to ensure the upliftment of women entrepreneurs was to subsidise the interest rates. For instance, in the Dena Shakti Scheme of the Government of India, a female entrepreneur is entitled to a grant of 20 lakhs and a 0.25% concession in the base rate of the loan. Therefore, the eligibility criteria are simple: women should hold at least 50% of the stake in the organisation. 

Moreover, Stree Shakti Yojana from SBI gives out loans from small-scale industries of up to 25 Lakhs. Also, it offers a concession of 0.5% if the capital required is above 2 Lakhs. 

Business Loans For Female Entrepreneaurs

Several schemes are helping female entrepreneurs to achieve success in their business by giving them access to capital in a hassle-free manner:

  • Mudra Loan For Women: This loan scheme is exclusively for women who are just starting their business journey. There are further three categories of this scheme:
    • Shishu Loan: Businesses who want to establish their business can apply for this loan. The credit grant is only Rs.50,000.
    • Kishor Loan: If an established business wants to expand its services, it can avail of this loan. The limit of credit is between Rs.50,000 to Rs.2,00,000. 
    • Tarun Loan: All well-established businesses who want to scale their operations can take this loan. The cap on the maximum grant is Rs. 10 Lakhs.
  • Bhartiya Mahila Bank Loan: It is a public sector bank that aims to fulfil the working capital requirements of women-led enterprises and offers several loan schemes with a cap limit of 20 crores. Therefore, here are some of the plans available under this scheme:
  • Annapurna Scheme: Through this scheme, women entrepreneurs who want to establish their food catering business can get loans under this scheme. So, it will help you to cover up initial costs for your business, such as buying equipment and utensils. Therefore, it will help them increase their sales because they have an injection of capital to scale their operations. 
  • Mahila Udhyam Nidhi Scheme: Through this scheme government of India wants to revive the small-scale industries that seem incapable but are worth reviving! Therefore, under this scheme the maximum amount of sanction is Rs. 10 Lakhs, with a period of 10 years.

Conclusion

At last, these are some of the schemes that will help you to generate significant capital for your business. Also, it will help you to generate the assets that will help you to remain valid in the business. 

What do you think — what are some other methods through which you can raise capital for your business? 

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