What are loan schemes in India for women to start their business?
In India, there are several loan schemes available for women who want to start or expand their businesses. Here are some of the popular loan schemes:
Annapurna Scheme: This scheme is offered by State Bank of Mysore and is aimed at women entrepreneurs who want to start food catering businesses. The loan amount ranges from Rs. 50,000 to Rs. 5 lakh and has to be repaid within 36 months.
Mudra Yojana Scheme: This scheme, launched by the Government of India, provides loans to women entrepreneurs who want to start small-scale businesses. The loan amount ranges from Rs. 50,000 to Rs. 10 lakh and can be repaid within 5 to 7 years.
Mahila Udyam Nidhi Scheme: This scheme is offered by the Small Industries Development Bank of India (SIDBI) and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 10 lakh to Rs. 1 crore and has to be repaid within 10 years.
Stree Shakti Package for Women Entrepreneurs: This scheme is offered by various banks in India and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 50,000 to Rs. 5 lakh and has to be repaid within 5 years.
Cent Kalyani Scheme: This scheme is offered by Central Bank of India and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 1 lakh to Rs. 100 lakh and has to be repaid within 10 years.
Bhartiya Mahila Bank Business Loan Scheme: This scheme is offered by the Bhartiya Mahila Bank and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 50,000 to Rs. 20 lakh and has to be repaid within 5 to 7 years.
Annapoorna Scheme: This scheme is offered by the State Bank of India and is aimed at women entrepreneurs who want to start food catering businesses. The loan amount ranges from Rs. 50,000 to Rs. 50 lakh and has to be repaid within 3 years.
Dena Shakti Scheme: This scheme is offered by Dena Bank and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 50,000 to Rs. 20 lakh and has to be repaid within 7 years.
Udyogini Scheme: This scheme is offered by the Karnataka State Women’s Development Corporation and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 50,000 to Rs. 50 lakh and has to be repaid within 5 years.
Anilaavali Scheme: This scheme is offered by the Kerala State Women’s Development Corporation and is aimed at women entrepreneurs who want to start or expand their businesses. The loan amount ranges from Rs. 50,000 to Rs. 5 lakh and has to be repaid within 5 years.
These loan schemes have different eligibility criteria and interest rates, and it’s important to check with the respective banks or financial institutions for more details. Additionally, women entrepreneurs can also check with their local government bodies or business associations for other loan schemes that may be available in their region.