Top 8 Small Business Loans For Women In India

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Women entrepreneurs

We are in the 21st century and the women of this century are nowhere behind the men in all aspects. Many women have started to enter the business world to earn more and better. In order to further increase the number of women entrepreneurs, there are various programs that offer business loans at attractive interest rates.

Shree Shakti Commercial Loan by SBI:

  • The Stree Shakti package can provide a loan in the form of a term loan or working capital. The loan amount will be determined based on the borrower’s profile.

  • The majority of SBI offices provide this loan to women entrepreneurs who control at least 50% of a business or enterprise.

  • For a loan of up to Rs 10 lakh, you do not need to post collateral. However, for any loan exceeding Rs. 1 crore or based on the borrower’s profile, collateral is required.

  • Interest rate: 11.20% From

Bhartiya Mahila Bank loans to businesses:

  • This device allows you to apply for a business loan up to 20 crore. The loan is secured by the property.

  • This loan is for women entrepreneurs who want to start new businesses in the retail and manufacturing sectors.

  • For loans up to Rs. 1 crore, no warranty is required.

Annapurna Program by Mysore State Bank:

  • It is aimed at women entrepreneurs who want to start a business or a catering unit. They can get a loan of up to 50,000 rupees under this plan, which would be reimbursed in 36 monthly installments. The interest rate is determined by the market.

  • The first month’s IME will not be payable. This loan can be used to acquire kitchen supplies such as utensils, gas connections, raw materials and water filters, among others.

  • For this loan, you will need to provide your business assets as collateral as well as a personal surety from a guarantor.

  • Age limit: 18 to 60 years

Synd Mahila Shakti Scheme by Syndicate Bank:

  • Under this program, the bank provides financial assistance to women entrepreneurs for those who are engaged in a small business, professionally or self-employed, and in the retail trade through credit facilities.

  • To start a new business, the bank offers a loan amount of up to Rs. 5 Crores at a concessional interest rate for women entrepreneurs.

  • The program is available either as a cash credit to meet the working capital needs of new and existing business units, or as a term loan program of up to 10 years.

Cent Kalyani Scheme by the Central Bank of India:

  • The Indian central bank offers this loan in order to help women. Village and craft businesses, such as micro, small and medium-sized enterprises, self-employed women, agriculture and related activities, retail, and government-sponsored programs all employ women.

  • No collateral is required, no guarantor or handling fees.

  • The maximum commercial loan that can be granted under this scheme is Rs. 100 Lakhs.

Dena Shakti Schematic by Dena Bank:

  • This program is intended to finance women entrepreneurs provided by Dena Bank. Under this program, women eager to start a business in industries such as microcredit, manufacturing, agriculture, retail, etc., would receive loan benefits.

  • A maximum of Rs.20 lakh loan can be used under this scheme.

  • It is a combination of term loan and working capital.

  • Women entrepreneurs have the right to 25% preferential rates in the loan.

Mahila Punjab National Bank Udyam Nidhi Program:

  • This program aims to support women entrepreneurs involved in small industries. A maximum of Rs 10 Lakh loan can be used under this scheme.

  • The business loan under this scheme can be repaid over a period of 10 years.

Mudra Yojana for women:

The Indian government has started this program for individual women who want to develop new small businesses such as beauty salons, tailoring workshops, training centers, etc. as well as a group of women who want to start a business together. This strategy also does not require the use of collateral.

(Read also: Udyogini Program for Women)


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