To ensure that the women entrepreneurs who think out of the box and aim to start a business in India were given their due, both the government and the banks have launched several schemes to facilitate the financing and loan rates for women entrepreneur. Here are the eight major loan schemes:
1. Stree Shakti Package
This package is for women running small, fifty percent partnership businesses. In provides women with .5% low-interest rates on loan above two lakhs and to be eligible, a woman should have pursued Entrepreneurship Development Programmes run by the state.
2. Annapurna Loan Scheme
Women who run fully owned or partnership food catering business are eligible for this scheme. A loan of 50000 is provided with three years of returning period. Current interest rates are levied.
3. Dena Shakti Loan scheme
Especially for women in agriculture sector, allied and manufacturing sector, this scheme provides 0.25% lower interest rates. Retail stores are eligible for this loan as well.
4. Cent Kalyani Loan Schemes
Central Bank of India provides loans under his scheme to women starting a new business or needing money to establish their business or store.
5. Small Industries Development Bank of India Loan Schemes
Women setting up new business as a small scale industry are eligible for a loan of up to 10 lakhs under this scheme.
6. Udyogini Loan Scheme for Woman Entrepreneurs
Provided by Punjab and Sindh Bank at low interest rates, this loan scheme is for retail trade, business women, a new venture like agricultural or small scale industry establishment.
7. Akshaya Mahila Arthik Sahay Yojana
Run by the Bank of Baroda, women who wish to start a new small scale business can get a loan at a low interest rate from the bank.
8. Mahila Udyam Nidhi Scheme
Run by the Punjab National Bank, women starting businesses or buying anything like automobiles or land are eligible for a loan of 10 lakhs which can be paid back in ten years. The interest rates are different for different needs and same as the market interest rates.