What other options do women have when it comes to loans for small business?
Yes, we do! As long as you meet the eligibility criteria, and aren’t a brand new business - we don’t lend to startups. We need at least a year’s activity, before giving out a loan.
You can always look at the loans offered by the government too. Here are some of them!
- Annapurna Scheme: Offered by the State Bank Of Mysore for women who are setting up food catering businesses to sell packed meals, snacks, etc.
- Stree Shakti Package: Offered by SBI branches to women who have 50% share in the ownership of a firm or business and have taken part in the state agencies run Entrepreneurship Development Programmes (EDP).
- Bharatiya Mahila Bank Business Loan: Offered to women looking to start new ventures in the fields of the retail sector, loan against property, MICRO loans, and SME loans.
- Dena Shakti Scheme: Provided by Dena Bank to women entrepreneurs in the fields of agriculture, manufacturing, micro-credit, retail stores, or small enterprises.
- Udyogini Scheme: Offered by Punjab and Sind Bank to women entrepreneurs involved in agriculture, retail and small business enterprises to get loans for business at flexible terms and concessional interest rates.
- Cent Kalyani Scheme: Offered by Central Bank, this loan can be availed by women who are involved in village and cottage industries, micro, small and medium enterprises, self-employed women, agriculture and allied activities, retail trade, and government-sponsored programs.
- Mahila Udyam Nidhi Scheme: Launched by Punjab National Bank, it aims at supporting the women entrepreneurs involved with beauty parlours, day care centres, purchase of auto rickshaws, two-wheelers, cars, etc.
- Mudra Yojana Scheme For Women: Launched by the Govt. of India, meant for individual women wanting to start small new enterprises and businesses like beauty parlours, tailoring units, tuition centres, etc.
- Orient Mahila Vikas Yojana Scheme: Provided by Oriental Bank of Commerce to those women who hold a 51% share capital individually or jointly in a proprietary concern.