6 Easy Loans for Women-Owned Businesses in India

The MSME sector in India is booming, and one cannot deny the contribution of women-owned businesses in the progress of this sector. Currently, there are around 15 million businesses in India, which are operated by women, and they employ approximately 22-27 million Indians.

Business loans for women at affordable terms offered by financial institutions, and various government schemes have prompted this growth. With the help of such easy credit, entrepreneurs have managed to accumulate funds for their ventures, and expand their operations.

6 easy credit option for women entrepreneurs

Even though there are multiple business loans for women available, here is a list of five popular ones that one can apply for –


  • Annapurna Scheme


Available for individuals who want to set up a catering business, this scheme offers applicants up to Rs.50,000. This financial assistance programme has 36-months repayment tenure, with an EMI free period of one month. The applicable rate of interest follows the current market rates.

However, applicants require collateral to avail this advance. 


  • Stree Shakthi Package


This particular financing option aims to help women build their business. The loan amount available here is up to Rs.5 lakh. Moreover, if the credit amount exceeds Rs.2 lakh, the applicant will receive a concession on the interest rate.

A point to note here is that the applicant must hold a majority stake in the business to avail the benefits of this particular scheme.


  • Mahila Udyam Nidhi Scheme


The primary aim of this particular scheme is to help women entrepreneurs operating in the small-scale sectors. Under MUNS, applicants can avail up to Rs.10 lakh, which is repayable over a tenure of ten years. The interest rate here depends on the market rates and revised regularly.

There are specially designed financing options for businesses like a beauty parlour, daycare centre, purchasing auto-rickshaw, cars, or two-wheelers for business usage.


  • MUDRA loan for women


Pradhan Mantri MUDRA Yojana was established to provide affordable credit to small and medium scale businesses. Under the MUDRA scheme for women, one can avail business loans for women of up to Rs.10 lakh. 

This scheme has three stages, Shishu, Kishore, and Tarun. Each stage offers a different credit amount.


  • Business loans


Apart from these government-backed financings schemes, one can also opt for business loans from one of the several financial institutions of the country. Specially curated to fulfil the financing needs of a business, this credit type offers access to a substantial amount, attractive interest rate, and repayment flexibility.

Additionally, borrowers do not need to pledge any collateral to avail it. Easy eligibility and quick disbursal of the loan amount has made this financial product a top pick for every business owner.

Financial institutions like Bajaj Finserv also offer Business Loans at attractive interest rates and with flexible tenure. Borrowers can avail up to Rs.20 lakh without pledging any collateral and within 24-48 hours.

Furthermore, the pre-approved offers provided by the company also make the loan application process smooth and hassle-free. It is applicable for financial products like business loans, personal loans, etc. Applicants can quickly check their pre-approved offers by providing their name and contact details.


  • Personal loans


Even though it does not qualify as a business loans for women, this financial product can also be a suitable financing option. With its no end-use restrictions, individuals can use personal loans for various business purposes like boosting working capital, paying off bills, etc.

Similar to business loans, this credit type also has quick disbursal, and it is collateral-free. Also, the eligibility criteria here is comparatively less stringent, but it is ideal for short-term financial requirements.

Business loans for women have offered the necessary financing assistance that has helped female entrepreneurs to build their business and become successful. With assistance from such credit options, Indian women are now generating employment and participating in the economic growth of this country.

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