Loan Schemes for Women Entrepreneurs

The progress of the country depends on the progress of the society, which ultimately depends on how both the genders contribute towards the development. The men who have been considered as the bread earners since ages, the women were always regarded as the homemakers. But, now the scenario is changing. In India, the main stage is seeing he female fairing well and walking with the shoulder to shoulder along with men and not only contributing to the development of the society but at the same time, offering them, a chance to be independent.

In an effort to bring the women at the main stage, the government has introduced   Loan Schemes for Women Entrepreneurs, with the view to allow women to have their own setup and contribute well. In an effort to promote the women entrepreneurship and motivating women towards stepping out of the house, and do something on their own, the government has flooded the whole country with various Loan Schemes for Women Entrepreneurs. Also, there are several agencies, which have introduced great support programme and Loan Schemes for Women Entrepreneurs. Let’s take a look at those:

Skill Upgradation and quality improvement Scheme

Supported by the Central India Government and under the Ministry of MSME, Govt. of India, the Skill Upgradation and quality improvement Scheme aims to provide women with the necessary training and skill upgradation, after which a monthly stipend of Rs.500 will be given to the women. This Loan Scheme for Women Entrepreneurs is doing wonders in the rural areas.

Udyogini Scheme

Initiated by the Punjab and Sindh Bank, the Udyogini Scheme, offers the loan amount up to 1 lacs to the women ranging from 18 years to 45 years, with the restriction that the average family income should not exceed 45000 per annum. However, if the women is a Widow, destitute or disabled, there is no upper ceiling in income. Also, for the women belonging to SC/ST Category and Widow, destitute or disabled, the Karnataka government offers an additional subsidy at 30% of the loan sanctioned or INR 10K (whichever is lower).

Annapurna Scheme

Initiated by the Bank of Mysore, the Annapurna Scheme offers composite term loan of Rs. 50k, with the loan duration of maximum 3 years. The Annapurna Scheme as the name suggests aims to offer help to the aspiring women entrepreneurs who aim to open their catering units and require funds to purchase utensils, kitchen equipment, water filters and other such.

Stree Shakti Package for Women Entrepreneurs

Offered by almost all banks across the country, the Stree Shakti Package for Women Entrepreneurs is among the top Loan Schemes for Women Entrepreneurs, which aims to offer loans to the women, who hold at least 50% ownership in the firm. However, the scheme is applicable only to those women, who have participated in the Entrepreneurship Development Programmes organized by the state level agencies.

Bharatiya Mahila Bank Business Loan

Bharatiya Mahila Bank Business Loan is another Loan Scheme for Women Entrepreneurs, under which a loan amount of 20 crores is at offered to the women entrepreneurs who aim towards the manufacturing units. With the loan guaranteed by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), it’s a complete collateral free loan type.

Dena Shakti Scheme

loan schemes for women entrepreneurs

Initiated by Dena Bank, the Dena Shakti Scheme is one of the loan schemes for women entrepreneurs who are involved in the manufacturing, microcredit, retails stores and agriculture. Different loan amount under different sectors, the Dena Shakti scheme loan offer extends up to 20 lacs.

Cent Kalyani Scheme

Offered the Central Bank of India, the Cent Kalyani Scheme id for the women who are rural based, and are employed in cottage industries and micro, small and medium enterprises, i.e. MSMEs. Under Cent Kalyani Scheme, the maximum loan amount available is 1 crore and there’s no need of any collateral needed to avail such a loan.

Mudra Yojana Scheme For Women

Under the Central Government, the Mudra Yojana Scheme For Women aims to offer help to the women entrepreneurs, who want to set up their own business like Beauty parlors, Tailoring units or Tuition centres etc. The loan scheme is categorized under 3 different categories; Shishu, Kishor, and Tarun (depending on the stage of the enterprises they are in).

Orient Mahila Vikas Yojana Scheme

Offering the maximum loan amount up to 25 lacs, the Orient Mahila Vikas Yojana Scheme as offered by the Oriental Bank is available to the women entrepreneurs who hold the share capital of not less than 51% in the business and should be managing all units. The loan is offered up to 7 years.

Mahila Udyam Nidhi Scheme

Launched by the Punjab National Bank, the Mahila Udyam Nidhi Scheme is one of the 10 Loan Schemes for Women Entrepreneurs, which is offered to the women entrepreneurs aiming to take a loan for Beauty parlors, for daycare centres, or for buying auto rickshaws, 2 wheelers and cars.

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