Entrepreneurship in India means developing innovative ideas and creative business solutions to various problems. However, the startup and MSME sectors in India are still largely male dominated. The government has implemented a variety of programs aimed at removing all obstacles facing women entrepreneurs.

However, capital is always the most important factor in promoting entrepreneurship. But there is good news for those women looking to broaden their horizons and start or start their own business. Recently, various banks have made special credit facilities available to women entrepreneurs on affordable terms. A number of such programs have been implemented by the central government as part of Woman Entrepreneur Schemes, which help women entrepreneurs grow in the Indian startup ecosystem. Find out about such programs to help women entrepreneurs start their own businesses.

This article will help women farm entrepreneurs make their dreams come true.

Mudra Yojana program

Mudra Yojana program –a government small unit program – also applies to women who want to start a small business such as a beauty salon, teaching center, tailoring shop, etc. Women entrepreneurs can take out loans from 50,000 rupees and up to 50 lakh under the scheme. You only need to provide collateral and guarantors if the loan amount exceeds Rs 10 lakh. There are three plans – Shishu Plan (loans up to Rs 50,000 for new businesses), Kishor Plan (loans between Rs 50,000 and Rs 5 lakh for established businesses), and Tarun Plan (loans between Rs 5 lakh and Rs 10.) . lakh for business expansion). MUDRA does not make direct loans to individuals, and loans under the program are available to banks and NBFCs. Borrowers can also apply for MUDRA loans online on the Udyamimitra portal.

Oriental Mahila Vikas Yojana Program

As part of this program, the Oriental Bank of Commerce grants loans to women who individually or jointly own their own businesses. Holds 51% of the share capital. Under this program, women entrepreneurs receive loans between 10 and 25 lakh for small industries.

However, no type of surety is required to avail this loan. Women entrepreneurs can repay their loans over a period of 7 years. This includes women entrepreneurs who are granted a loan interest reduction of 2%.

Mahila Udyam Nidhi program

The Mahila Udyam Nidhi Scheme is offered by the Small Industries Development Bank of India (SIDBI) and offers women entrepreneurs financial assistance of up to Rs 10 lakh in starting new small businesses. It also helps in upgrading and upgrading existing projects. The loans are to be repaid within 10 years, including a five-year moratorium period.

Udyogini scheme

As part of this program, women between the ages of 18 and 45 receive credit up to one lakh rupees for work in businesses, agriculture, retail and small business owners. If the annual income of a business woman’s family is less than 45,000, only she can get a loan through this system. This also includes a grant of 30% for loans of up to Rs 10,000 to widows, destitute or disabled women in categories SC and ST.

Sukanya Samriddhi Yojana

Under this scheme, loans are given to women who start small businesses. This includes a classroom, tailoring or beauty salon, etc. You will also receive a Mudra Card when you approve the loan, which works like your credit card and has a capped 10% amount. of the loan amount. At the same time, the loan amount is given between 50000 and 5 lakh rupees. The loan amount in tarun is 10 lakh.

Business loan from Bharatiya Mahila Bank

Bharatiya Mahila Bank commercial loan has been introduced for women entrepreneurs who want to start a new real estate and SME retail business. As part of this program, women entrepreneurs receive a maximum loan amount of up to 20 crores and a discount of 0.25%. The interest rate on this loan amount is usually 10.15% or more.

Annapurna program

Under the Annapurna program, women entrepreneurs who want to build a food catering industry to sell groceries like packaged groceries, breakfasts, etc. can get started. Under this program, a loan of Rs. 50 thousand will be made to women entrepreneurs by the State Bank of Mysore. Women can pay for it in monthly installments of 36 months. This loan is given to meet the main needs of the businesswoman, that is, to purchase utensils and other equipment.

Under this program, they can get a loan of up to 50,000 rupees to buy kitchen utensils, utensils, gas connections, raw materials, water filters, etc. A surety is required to secure the loan. Once the loan has been secured, it can be repaid in 36 installments (the repayment period is three years). In addition, under this scheme, the interest rates are set according to the prevailing market rates.

Dena Shakti scheme

If female entrepreneurs want to grow their agriculture, manufacturing, micro-credit, retail, or micro-business business and need financial support, this program is best of all. Under this scheme, women entrepreneurs receive a maximum retail loan amount of Rs 20 lakh, on which the interest rate is zero point 25%. This amount can be easily repaid by paying monthly installments from women entrepreneurs from the bank provided in the loan.

Cent Kalyani program

If the women want to start or revamp their new business, the Central Bank of India offers them the benefits of the DHS loan system. As part of this program, this loan can be used by women entrepreneurs involved in business ventures such as village, small and medium-sized industries, self-employment or agricultural retailing. Under this program, women entrepreneurs do not require a guarantor while borrowing, and the maximum loan amount under this program is 1 lakh.

Mahila Udyam Nidhi program

Mahila Udyog Nidhi Yojana was founded by the Punjab National Bank. The aim of this scheme is to provide loans to female companies operating in small industries. Entrepreneurs can easily repay the loan amount over a period of 10 years. Various loan programs are also included in the Mahila Nidhi program, beauty salon, daycare, auto rickshaw. The maximum loan amount granted under this scheme is Rs 10 lakh.

Stree Shakti packages

This scheme lets women entrepreneurs get a discount rate on the loan amount. If a businesswoman’s loan amount is more than Rs 20 lakh under this scheme, a 0.50% discount will be given on that rate. This program was run by the government through most of the SBI Bank branches.