Business Loans for Women

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Business Loan for Women
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Introduction

• Many of the funding schemes are offering
  comparatively lower interest rates in the range
  of 0.25 to 1.
• Well, known banks like State Bank of India are
  establishing dedicated cells to inform women
  entrepreneurs about SBI business loan for women's
  eligibility.
• To motivate the women in India, various leading
  financial institutions and nationalized banks are
  providing business loans for women.
• However, due to lack of sufficient knowledge
  about loans for womens to start a business, many
  women find it extremely difficult to start their
  own business.

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Introduction

• The nationalized banks of India have started many
  pleasant schemes to motivate the female
  entrepreneurs and also to promote
  entrepreneurship among women. It is a widely
  accepted fact that women are known to be more
  careful with business, and hence they are less
  likely to fail in a business endeavor.
• These cells are meant to provide training,
  consulting, counselling, and even channels for
  marketing or promoting their business products.
• These loans for womens to start a business are
  also paving ways for economic independence as far
  as women are concerned.

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most popular schemes

• Stree Shakthi Package
• Annapurna Scheme
• Dena Shakti Scheme
• Udyogini Scheme
• Cent Kalyani Scheme
• Mahila Udyam Nidhi Scheme

• Orient Mahila Vikas Yojana Scheme
• Mudra Yojana scheme for Women Entrepreneurs
• Bharatiya Mahila Bank
• Prime Ministers Rozgar Yojana
• Punjab National Bank Schemes for Woman

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Comparison of some of the government schemes
available
Criteria for comparison Synd Mahila Shakthi Shakti Scheme Shringaar or  Annapurna Stree Shakti Cent Kalyani
Bank associated Syndicate Bank Dena Bank Bhartiya Mahila Bank SBI and Associates Central Bank of India
Eligibility criteria The woman should have sufficient knowledge or experience in the field of business.   It is applicable for women who have less than 50 ownership in a business firm.   For Shringaar, the woman should be between 20 to 60 years in age for Annapurna, she should be between 18 to 60 years.   The woman should own about 51 of the enterprise.   For women over 18 years of age and has no source of income.
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Criteria for comparison Synd Mahila Shakthi Shakti Scheme Shringaar or  Annapurna Stree Shakti Cent Kalyani
Maximum amount of loan Loan amount is up to Rs 5 crore Loan amount of Rs 50,000 for micro-credit schemes amount up to Rs20 lakhs for education, retail trade and housing. Loan amount up to Rs 50,000 for Annapurna/food for shringaar, loans up to Rs10 lakhs will be provided   Loan amount is up to Rs 50 lakhs Loan amount is up to Rs 100 lakhs
Period of loan Maximum loan period of 10 years including the moratorium period May be different for different loan amount and such criteria   Loan term is 7 years for Shringaar and 3 years for Annapurna May be different for different loan amount and such other factors   For a period of 1 year to 7 years
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Criteria for comparison Synd Mahila Shakthi Shakti Scheme Shringaar or  Annapurna Stree Shakti Cent Kalyani
Rate of interest For loan amount that exceeds Rs 10 lakhs, the base rate is below 0.25. In other cases, the interest rate is as per the base rate of the bank   For women entrepreneurs having majority stakes in the company, the base rates are below 0.25  In addition to the base rate, an additional 2 for Shringaar and 1.5 for Annapurna   For loan amount that exceeds Rs2 lakhs, the base rate is below 0.50. In other cases, the interest rate is as per the base rate of the bank   Base rate and 0.25 interest rate for loans up to Rs 10 lakhs. For loans above this, the interest rate is 0.50 in addition to the base rate and tenure premium as per applicable.
Processing Fee No processing fee May be different for different loan amount May be different for different loan amount May be different for different loan amount   No processing fee
Other added Features You can get a free credit card. There is no need of any third party guarantee under CGMSE Apart from enterprises operating in agriculture and related sectors, some micro-credit stores and retail stores can also avail this scheme.   Shringaar has tie up with companies like Cavin Care or Naturals etc. Both the Shringaar and Annapurna scheme are free from collateral and comes   under CGTMSE For loans up to Rs 5 lakhs, no requirement of security. No interest concession for retail traders who are provided with advances No third party guarantee or collateral is required As a security, assets created from banks fund and Hypothecation of all stocks is necessary
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Conclusion

• As a woman entrepreneur, now its up to you to
  decide the best financial assistance for
  yourself. You should come up to avail full
  benefits provided under these business loans for
  women.
• The effective online platform of Afinoz can help
  you in getting business loans for women in India,
  as per your unique need and affordability. 
• Afinoz has digitalized and simplified the entire
  financial processes related to SBI business loan
  for women's eligibility, and loans for women have
  to start a business. 
• Afinoz facilitates the disbursal of all business
  loans for women in a quick, reliable, transparent
  manner.  

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Thank YOU!!!