Women in the food catering industry who are starting small enterprises are eligible for this credit. The loan enables these female business owners to use it for capital needs like setting up trucks, buying tools and equipment, etc. Due to the fact that housewives have been managing packed food items and snacks for their whole lives and are accustomed to doing so, selling them is one of the most typical companies that women entrepreneurs look into and flourish in. This increases their sales because they have a chance to start their firm with greater funding and new items than they otherwise could. The scheme has a Rs. 50,000 maximum lending amounts.
- Bharatiya Mahila Bank Business Loan
This banking programme for female entrepreneurs was established in order to support women and their enterprises on a big scale. Women have dabbled in a variety of commercial sectors and relentlessly strive for success. The goal of this bank is to give women economic empowerment. The maximum loan amount from this source is Rs. 20 crores.
Through the provision of business loans and other forms of assistance, the Government of India is working to elevate the status of women in the nation and enable them to become self-sufficient and financially independent. Following loan approval, they will receive Mudra cards, which function like credit cards and have a 10% loan withdrawal cap. According on the type of business, degree of expansion, and loan goal, this scheme has a variety of distinct plan types. The government's women's lending programme has a 10-lakh rupee loan cap.
- Government Women Loan Schemes offered Under Mudra Yojana
The Prime Minister’s loan scheme for women is classified into three schemes, Shishu, Kishor, and Tarun, under the Pradhan Mantri Loan Yojana (PMMY). Each loan scheme’s loan amount is listed below:
1.SHISHU Loan: Loans up to Rs. 50,000 are available through the Mudra Shishu Loan programme (for start-ups and new businesses).
2 KISHOR Loan: The Kishor Loan Scheme offers loans between Rs. 50,001 and Rs. 5,00,000 (for the purchase of raw materials, equipment/machinery, and business expansion for existing firms).
3. TARUN Loan: With the Tarun Loan Scheme, borrowers can get loans between Rs. 500,001 and Rs. 10,00,000. (for established businesses and enterprises). Business loan for female business owners.
- Orient Mahila Vikas Yojana Scheme
Women who alone or together own 51% of a proprietary company are eligible for loans under this women's lending programme. This is a fantastic chance for these participants to grow their companies and advance their industry. These loans in India are provided at a concessionary interest rate of up to 2% and do not require collateral security. The maximum loan amount is Rs. 25 lakhs, and the payback duration is variable for up to 7 years.
Only companies in the industries of agriculture, retail, manufacturing, small businesses, or microcredit organisations are eligible for this government programme for women-owned businesses. The maximum ceiling restrictions for women beneficiaries are also supplied in accordance with the sector they are opening a business in or growing in, as per RBI limits. There is a Rs. 20 lakh loan cap.
- Pradhan Mantri Rozgar Yojana
This programme, also known as PMRY, is one of the most beneficial for female entrepreneurs on both a social and financial level. The goal of this programme is to empower women entrepreneurs and engage the best minds in the industry to generate skill-based, independent income. This programme, which was evolved through a number of changes to cost, eligibility, and subsidy restrictions, includes both urban and rural areas. The loan subsidy amount is limited to a maximum of Rs. 12,500 per borrower and may not exceed 15% of the project cost. All business ventures in the commerce, services, and industries are covered under the scheme. Age restrictions apply, with a maximum loan amount of Rs. 2 lakhs for businesses and Rs. 5 lakhs for services and industry.
The udyogini programme promotes women's independence and aids in their personal growth by giving them the financial means to do so. This women's loan programme supports aspiring female entrepreneurs by offering loans in this area at reasonable interest rates compared to the sky-high rates in the private sector and serving as a reliable source of credit. This is only applicable to people whose annual family income is less than Rs. 40,000. Loans in the trade and service industry are strongly encouraged, and the maximum amount is Rs. 1 lakh.
The only thing that is specifically emphasized about this government programme for women is that it is for female entrepreneurs. It is intended for both new enterprises and those who want to grow and expand. Self-help organizations, retail trade, and education and training are not permitted under the programme. On their website, the guidelines and a detailed list of the eligible categories are provided. Additionally, there are no processing fees associated with this no-collateral loan. Through these women loan schemes for women entrepreneurs, the chosen qualified groups of businesswomen can apply for a loan and expand their businesses. The maximum loan amount under this programme is Rs. 100 lakhs.
- Mahila Udyam Nidhi Scheme
This women's loan programme tries to close the equality gap. It encourages MSMEs and small sector investments across a range of industries to develop and succeed. This promotes the reconstruction of SSI units that are thought to be inoperable but could really be saved. The borrower has ten years to repay the loan, up to a maximum of ten lakhs of rupees.