08 May 2019 | 3 min read
Diwali brings with it an aura full of joy, festivities, and celebrations. These festivities in India are also said to mark the best time for wealth creation and for starting something new, such as a new business. Entrepreneurship is no longer restricted to the men of the nation; women in India are also taking an active part in the business. There are many successful companies established solely by women. The government of India also gives a financial boost to women entrepreneurs in the form of special business loan schemes.
Let us talk about five of such schemes that support women entrepreneurs by offering them business loans-
Bharatiya Mahila Bank was established to help the women from the underprivileged sector and it was merged with SBI in 2017. It is a business loan scheme that helps women who are looking to start something new in the retail sector. A few key highlights of this loan are-
Under this scheme, women can avail of business loans to fund their small business. It can help them make up for the capital they need for starting a business. The borrower must have at least a 51% share in the business. Here are a few features of this loan-
Through this business loan scheme, women entrepreneurs can avail funds at lower rates of interest. The borrower’s age should be 18-45 years and the family income should be ₹ 45,000 or less. Some of its highlights are-
Women or groups of women who are looking forward to opening a beauty salon or a daycare center or other such small ventures can avail business loan under this scheme. A few features of this scheme include-
This business loan scheme helps women who wish to start a catering business. Collateral or guarantor may be needed for this type of credit. Some of its features are-
Women can take the help of these business loan schemes to set up a new business during Diwali or to expand their existing businesses. Fill out the form, given above and we will contact you soon.