Saloni Gusain | Updated: Jul 7, 2022 15:17 IST
Government Schemes For Women Entrepreneurs in India: The stories of entrepreneurs are always inspiring. They make you believe that anything is possible if you are determined to do it. And when it comes to determination, there is no barrier of gender. In India, you will get enough examples of women entrepreneurs who will make you want to leave your couch and start working. From Falguni Nayar, the founder of Nykaa, to Kiran Mazumdar Shaw, the founder of Biocon India, we have hardworking women entrepreneurs who make India proud.
As much as determination is important for entrepreneurs, money plays an important role too. For any potential idea, a certain amount of capital is required. The Government of India understands that. In order to make sure that nobody gives up on their dream of entrepreneurship, the Government has launched various loan schemes.
To kickstart their business journey, women entrepreneurs have the assurance of financial aid from the Indian Government. There are several loan schemes that women can apply for and start their own businesses. These loans are provided for all kinds of businesses. From opening a beauty parlor to industries, all kinds of businesses are covered under these loans. Some of the Government Schemes For Women Entrepreneurs In India are as follows.
| SNo. | Loan | Amount |
|---|---|---|
| 1 | Mudra Loan for Women | Rs. 50000 to Rs. 5 lakhs |
| 2 | Annapurna Scheme | Upto Rs. 50000 |
| 3 | Stree Shakti Yojana | More than Rs. 2 lakh |
| 4 | Dena Shakti Scheme | Upto Rs. 20 lakh |
| 5 | Bhartiya Mahila Bank Business Loan | Upto Rs. 20 crores |
| 6 | Mahila Udyam Nidhi Yojana | Upto Rs. 10 lakh |
| 7 | Orient Mahila Vikas Yojana Scheme | Rs. 10 lakh to Rs. 25 lakh |
This loan scheme was launched in 2015. It is one of the top Government schemes for women entrepreneurs. Women who want to start a beauty parlor, a stitching shop, tuition center, or any other small local business can take advantage of this scheme. They do not need any collateral to take this loan. The Mudra loan comes under the following categories.
| Loan | Business | Amount |
|---|---|---|
| Shishu Loan | For a starting business | Upto Rs. 50,000 |
| Kishor Loan | For an established business that is to be improved | Rs. 50,000 to Rs. 5 lakhs |
| Tarun Loan | For well-established business looking for expansion | Upto Rs. 10 lakhs |
This is one of the most used Indian government schemes for women entrepreneurs in food catering businesses. They can borrow up to Rs. 50,000 for buying requisites like utensils, tiffins, etc. One of the best features of the Annapurna Scheme is that the person taking the loan does not have to pay the EMI in the first month. The loan amount has to be repaid in 36 monthly installments. Interest rate varies according to the bank and the market.
Under this scheme, women entrepreneurs can get more than Rs. 2 lakhs of loans. Women who own the majority of the business are eligible to apply for three Stree Shakti loan. Also, to take this loan, the person should be enrolled in the Entrepreneurship Development Program.
| Agneepath Scheme | RailTel PM-WANI Scheme | Punjab Government Schemes |
| PMJJBY Scheme | Bihar Government Schemes | Haryana Government Schemes |
Up to Rs. 20 lakh loan is lent to women entrepreneurs in India. This is one of the Government schemes for women entrepreneurs in agriculture, manufacturing, retail stores, small enterprises, or micro-credit. The scheme provides a 0.25% concession in the rate of interest. Under the microcredit category, the loan is available up to Rs. 50,000
As the name suggests, the Bhartiya Mahila Bank provides this loan. It offers up to Rs. 20 crore loan. It is one of the Indian government schemes for women entrepreneurs for working capital requirements, manufacturing enterprises, or expansion.
This is another one of the Government Schemes For Women Entrepreneurs in India provided by a specific bank. The Punjab National Bank (PNB) and Small Industries Development Bank of India (SIDBI) provide up to Rs. 10 lakh loans to women in small-scale industries. Repayment of the loan has to be done in 10 years.
This scheme, as the name suggests, was launched by the Oriental Bank of Commerce. Women with 51% ownership in a business are eligible to apply for this scheme. For applying for loans between Rs. 10 lakh to Rs. 25 lakh, collateral is required. Oriental Mahila Vikas scheme is another one of the Indian government schemes for women entrepreneurs that provide a 2% concession in the rate of interest.
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Some of the Indian government schemes for women entrepreneurs are Mudra Loan for Women, Dena Shakti Scheme, Stree Shakti Yojana, etc.
Women entrepreneurs can get as much as Rs. 20 crores of the loan depending on their business type.
All kinds of businesswomen can get loans. The businesses vary from a beauty parlor to an industry.
Yes, banks like the Punjab National Bank and the Oriental Bank of Commerce provide loans to women entrepreneurs in India.
For the Stree Shakti Yojana, you need to be enrolled in the Entrepreneurship Development Program (EDP).