Ruchi Verma Entrepreneurship has been the talk of the town these days. Many people are looking forward to starting their businesses and contributing to the economy of the nation. Business is a fantastic way to create solutions for people and help people with different things.
The owners should complete a product or service which is essential in the market, and people who are willing to start their business should always focus on value creation. Government offers various financial schemes for women entrepreneurs in India, and there are many schemes you can take advantage of to build your business.
Doing business is a critical task, and as a woman entrepreneur, you can take some support from the government, which will help you to build and grow your business. In this post, we’ll walk you through some Government Financial schemes for women entrepreneurs in India.
Which are the best Government Financial schemes for women entrepreneurs in India?
If you are a woman who aspires to be an entrepreneur, wait no more. There is support from the government which can help you financially. The Indian Government takes specific initiatives to help women entrepreneurs, and here are some financial schemes you can consider.
1. Mudra Yojana Scheme For Women Entrepreneurs.
The first financial schemes for women entrepreneurs, divided into three parts, is called Mudra Yojana Scheme For Women Entrepreneurs and other businesspeople. This scheme is not specifically for women, but it can benefit women who want financial support from 50,000 to 10 lakh. Financial aid is offered to build and expand a business, and female entrepreneurs can benefit from it. You don’t need to worry about collateral or a guarantor to enroll in this scheme, as it’s one of the best options for setting up small shops and salons. There are three categories under the mudra scheme, and the three categories are:
- Shishu
- Kishor
- Tarun
Shishu offers you a loan of up to 50,000. Kishor Offers loans above 50,000/- and up to 5 lahks per your needs. Third is Tarun, which offers loans above 5 lakhs and up to 10 lakhs. The Shishu category is for people who want to start something from scratch. The second one is Kishor which is for expansion, and the third one, Tarun, is for well-established businesses. You don’t need any collateral to grant the loan; you need to apply for the scheme and easily avail of the loan.
2. Dena Shakti Scheme
Dena Shakti Scheme offers you a loan in the microcredit category of up to 50,000. The scheme provides a concession of 0.25 percent for women entrepreneurs, and it’s one of the best for agriculture, manufacturing, small enterprises, or retail stores.
Dena Shakti Scheme offers loans for microcredit organizations, education, and housing sectors. The scheme is applicable, and the interest rate is below 0.25%. To avail of the system, you can visit the nearest Dena Bank and fill out the form to benefit from this offer. You can get a loan of up to 20 lakhs from the Dena Shakti Scheme and build your business.
3. Bharatiya Mahila Bank Business Loan
Suppose you don’t know where to start financially, then getting a loan from Bharatiya Mahila Bank can be a significant step. A business loan from Bharatiya Mahila Bank is one of the best ways to build your business financially.
The scheme is specifically created for women who lack resources and offers loans up to 20 crores to help female entrepreneurs in the industry. If the loan is less than one crore, there’s no need for collateral. The scheme is the perfect option, as it started in 2017 and has remained the same throughout the years. You can visit the nearest branch or call this number 011- 47472100.
4. Udyogini Scheme
Next one of the best financial schemes for women entrepreneurs is for Widowed, impoverished, or disabled women, anyone can avail of the Udyogini Scheme as it’s established to help women who come from a small place and want to start something. You can quickly get loans up to three lakhs with a very low-interest rate, and financially struggling women can take help to start their businesses.
The scheme has supported many women entrepreneurs, and Karnataka State Women Development Corporation started it. Many banks offer these schemes and help women to become self-sufficient. By visiting the nearest bank, you can apply for a loan.
Read More: Pradhan Mantri MUDRA Yojana
5. Annapurna Scheme
If you cover the food sector and want to start something around it, then one of the best schemes that the government offers is Annapurna Scheme. Many women want to create their food businesses, and to support them with the finance Annapurna Scheme was established.
To buy equipment and essential resources for the business Annapurna Scheme offers you a good amount. You can sell different food items by utilizing this scheme, and women who want to start small and expand their business can get from small amounts up to 50,000. The plan is perfect for people who wish to sell packed food items and different dishes.
6. Cent Kalyani Scheme
One of the most popular schemes for women entrepreneurs is the Cent Kalyani Scheme by the Central Bank of India. The scheme offers loans up to 100 lakhs without collateral or any other additional fee. The scheme doesn’t support sectors like self-help, education or training, and retail trade.
The plan has specific terms and conditions, and you can easily apply for this business by visiting the nearest Central Bank of India. Any woman who aspires to start a business can apply for financial support.
7. Pradhan Mantri Rozgar Yojana
For monetary benefits and independence of women, Pradhan Mantri Rozgar Yojana is the perfect scheme. For intelligent minds at work, this scheme is an ideal choice, and people who live in rural areas and want to start a business can use this scheme to build a small enterprise.
You can get a flexible loan through this scheme, and the specific age limit for this loan is 35 years, and for services, you can get a loan of up to 5 lahks. The loan limit for businesses under this scheme is 2 lakh. For rural and urban women entrepreneurs, this is one of the best schemes to consider.
Verdict
All the financial schemes for women entrepreneurs by the government can help women entrepreneurs to build and expand their businesses. The above given are some of the best Government Financial schemes for women entrepreneurs in India. We hope you find this helpful and receive valuable information from this post.
© Ruchi Verma
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Thanks for sharing these Government financial schemes for women entrepreneurs In India. Many people are unaware of these schemes. The government offers various financial schemes to support women entrepreneurs, By taking advantage of these schemes, women entrepreneurs can achieve their business goals and contribute to the economy.
There are so many financial schemes and more so for women, however, the main issue is a lack of awareness. Women who are actually in need of financial aid, are in many cases unaware of the existence of such schemes. The issue before the Government and all stakeholders is to improve the dissemination of information about the various schemes.
This is a post every entrepreneur needs to read before looking for investment here and there. And with so many schemes from government are sure way to make woman independent.
Women entrepreneurs are on the rise thanks to help from the government in the form of thee schemes offering helping hands to women to establish their businesses and stand on their own legs
I was actually looking for good schemes for starting my Holistic Wellness with RJ. Thanks for the recommendations . I am going to check them up
Ohh these are very informative and educating Ruchi. Let me see if I can get at least one of them done for myself. Thanks for this.
I am not very much aware about the schemes but your post made it easy to understand. With the growing number of women entrepreneurs, we need such schemes to help them achieve their dreams.