Women Entrepreneurs can be seen everywhere in the start-up-business ventures of India. Ladies also are seen leaving their promising employments just to venture out of the confinement of four walls of their homes and joining the pool of Entrepreneurship in India.
The main consideration to kick off the pioneering venture is capital and different banks offer particular loans for women business consultants that have an extraordinary and increasingly adaptable set of terms and conditions relating to guarantee security, a rate of interest, and so on.
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Here is a list of different plans and credits only for ladies that go for advancing and backing out the procedure for them –
1. Annapurna Scheme
This plan is offered by the State Bank of Mysore for those women business people who are setting up food or catering industry so as to sell package meals, snacks, and so on. The sum amount approved under this loan plan can be utilized to satisfy the working capital needs of the professional purchasing utensils and other kitchen instruments and necessary tools.
Under this loan, the guarantor is required along with the advantages of the business being promised as guarantee security. Further, the maximum amount of cash that is conceded is ₹50,000 which needs to re-paid in regularly scheduled payments for three years, in any case, after the loan is endorsed, the lender doesn't need to pay the EMI for the very first month. The loan cost is determined to depend upon the available rate.
2. Stree Shakti Package for Women Entrepreneurs
This plan is offered by a large portion of the SBI branches to ladies who have 50% share in the ownership of a firm or business and have partaken in the state offices run Entrepreneurship Development Programs (EDP). The plan also offers a limited rate of interest by 0.50% in case the accredit amount is more than ₹2 lakhs.
3. Bharatiya Mahila Bank Business Loan
This loan is a kind of encouragement and the support system as well for a budding business looking to begin new pursuits in the fields of the retail part, loan against property, MICRO advances, and SME advances.
The maximum loan amount under this loan goes up to ₹20 crores in the event of manufacturing enterprises and furthermore, a concession is accessible to the degree of 0.25% on the loan cost and financing costs normally extend from 10.15% and higher.
4. Dena Shakti Scheme
This plan is given by Dena bank to those ladies business consultants in the fields of agribusiness, manufacturing, smaller scale credit, retail locations, or little endeavors; who need financial help. The financing cost is additionally diminished by 0.25% alongside the maximum loan amount being ₹20 lakhs for retail exchange; training and lodging though ₹50,000 under the micro credit.
5. Udyogini Scheme
This plan is offered by Punjab and Sind Bank to give ladies business entrepreneur engaged with Agriculture, retail and private company undertakings to get loans for business at flexible terms and concessional loan fees. The most extreme loan of advance under this plan for ladies between the ages of 18-45 years is ₹1 lakhs however your family income is also taken into consideration over and is set at ₹45,000 per annum for SC/ST ladies.
6. Cent Kalyani Scheme
This plan is offered by the Central Bank of India with the point of supporting ladies business consultants in beginning another new venture or growing or altering a current business enterprise. This loan can be benefited by ladies who are associated with cottage industries, smaller scale, little and medium endeavors, self-employed ladies, agribusiness and allied activities, retail exchange, and government-supported projects.