The rate of women entrepreneurship has steadily increased over last few years. Finance is regarded is one of the major problem for women entrepreuners. Government has introduced various schemes to support women in setting up business. These schemes are mentioned below:
Stree Shakti Package For Women Entrepreneurs:
This is a SBI-run scheme to support entrepreneurship among women by providing certain concessions. This scheme is eligible for women who have majority ownership (over 50 percent) in a business. Women entrepreneur business in retail trade, manufacturing or services are eligible for the scheme. Also, Women professionals like Doctors, Beauticians, Architects and Chartered Accountants can avail loan under the Stree Shakti package. This scheme allows women to avail an interest concession of 0.5 percent on loans exceeding ₹2 lakh.
Cent Kalyani Scheme:
This scheme under the Central Bank of India is for both existing and new business – micro/small enterprises like farming, handicrafts, food-processing, garment making, beauty, canteen, mobile restaurants, circulating libraries, day creches, STD/Xerox booths, tailoring etc.
Under this scheme, loans up to ₹1 crore are sanctioned. You do not require any collateral security or guarantors for this loan. Interest depends on market rates.
P. M. Mudra Yojna:
This scheme is for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. To apply, you can visit the portal https://www.udyamimitra.in
or can approach any of the lending institutions mentioned above.
Mahila Udyam Nidhi Scheme:
Offered by Punjab National Bank and Small Industries Development Bank of India (SIDBI), this scheme support women entrepreneurs to set up a new small-scale venture by extending loans upto ₹10 lakh to be repaid in 10 years. It also includes a five year moratorium period. The interest depends upon the market rates.
Dena Shakti Scheme:
It provides loans up to ₹20 lakh for women entrepreneurs ( who are majority stakeholders in a company) in agriculture, manufacturing, micro-credit, retail stores, or small enterprises. It also provides a concession of 0.25 percent on rate of interest. Loans up to ₹50,000 are offered under the microcredit category.
Bhartiya Mahila Bank Business Loan:
The scheme was implemented by Bhartiya Mahila Bank (BMB) which was later merged with State Bank of India in 2017. It offers business loans up to 5 crores for Retail Trader and Service Enterprises and up to 1 crore for Manufacturing Enterprises. This scheme also offers concession of 0.25 per cent in interest rate. Loan tenure is 7 years.
Let us know if we have missed some thing.