List of Business Loan Schemes 2021 for Women Entrepreneurs
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Central govt. is running a variety of welfare schemes including Business Loan Schemes 2020-2021 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 want to broaden their horizons and start their own business or startup. Here we are providing you the list of 9 business loan schemes for women entrepreneurs. With this scheme, women will get loans up to Rs. 25 lakh without a guarantee.
Several banks are providing special loan facilities 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 2020-2021 for Women Entrepreneurs
Here is the list of 9 business loan schemes for women entrepreneurs 2020-2021 launched to provide loans up to Rs. 25 lakh to women for their business:-
Oriental Mahila Vikas Yojana
Under this Business Loan 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 of 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.
Udyogini Scheme
Under Udyogini Scheme, women b/w 18 and 45 years of age are given loans up to Rs. 1 lakh. These loans are for working in the 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 the SSY Business Loan 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 the Tarun component of the Mudra Scheme is Rs. 10 lakh.
Bharatiya Mahila Bank Business Loan
Bharatiya Mahila Bank’s 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 up to Rs. 20 crores and a rebate of 0.25% is also given in this business loan scheme. The interest rate on this loan amount is usually 10.15% or more.
Annapurna Scheme
Under the Annapurna Business Loan Scheme, women entrepreneurs who want to set up a food catering industry to sell food items like packaged food, breakfast etc. In this scheme, a 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 a 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 Business Loan Scheme is best for all women entrepreneurs who 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 a 0.25% interest rate. This amount can be easily repaid by the bank provided in the loan by a monthly payment of installments by women entrepreneurs.
Cent Kalyani Scheme
If women want to start their new venture or want to revise it, then the Central Bank of India gives them the benefit of the loan DHS Business Loan Scheme. Under Cent Kalyani Scheme, this loan can be availed by women entrepreneurs who are involved in business ventures like a village, small and medium industries, self-employment, agricultural retail trade. Women entrepreneurs do not need any guarantor while taking a loan and the maximum loan amount is given is Rs. 1 lakh.
Mahila Udyam Nidhi Scheme
Punjab National Bank (PNB) launches Mahila Udyog Nidhi Yojana as a Business Loan Scheme for women’s. 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 the Mahila Nidhi scheme, beauty parlor, daycare center, auto-rickshaw. The maximum loan amount given under Mahila Udyam Nidhi Scheme is Rs. 10 lakh.
Stree Shakti Packages
This Business Loan Scheme makes women entrepreneurs get a discount rate in the 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 package has been operated by the central govt. through most branches of SBI Bank.
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