The Government of India has focused on the women empowerment and now has moved one step ahead and launched various schemes for them to start up a new business or can expand the existing one. These initiatives will help them to solve the financial crunch because the basic need for any business is the capital and if the same is in deficit in nature, then it won’t be possible to start up a new business. Hence, Government schemes enable women to utilize their skills in their respective field to become a successful entrepreneur. So, if you are looking for the various schemes then you have reached at the right place as here you will get the comprehensive information of all the schemes and the same is listed beneath.

Mudra Yojana

This scheme provides financial support to the women entrepreneurs who want to initiate their business in the trading, manufacturing and service sector. MUDRA stands for Micro-Units Development and Refinance Agency and is especially dedicated for the Non-Corporate Small Business Sector which is comprised of women entrepreneur, street vendor, small business owner and significantly more. But to avail the benefits of this scheme, the borrower should not be a defaulter. As per the demands of the small business, the Government has categorized the schemes in three parts and they are:

Shishu

If you need lesser capital for the business, then you can avail this Buisness loan and the maximum amount offered through this scheme is Rs50,000. This plan is best suited for the Startup because the initial amount can be acquired through this plan and the interest rate is also lower, which is 12%.

Kishor

Under this plan, the loan amount lies in the range of Rs.50,000 to Rs.5 Lakh and the interest rate against this loan depends upon the lenders and the deciding factors are your repayment capability and creditworthiness.

Tarun

If you need to expand your business and the need for the capital is Rs.10 lakh, then you can choose this plan. In this plan, the range of the loan amount is Rs.5 lakh to Rs.10 lakh and the interest rate against the loan varies from lender to lender.

Cent Kalyani Scheme

This scheme is best suited for women who are engaged in the agricultural sector or in trading. Through this scheme, you can avail the loan up to Rs.100 lakh from the Central Bank of India and in this scheme, you won’t have to pay any processing fee and this feature make it unique from other schemes. The interest rate against the loan varies and it depends upon the market’s condition.

Mahila Udyam Nidhi Yojana

The loan under this scheme is provided by the Punjab National Bank and the maximum amount goes up to Rs.10 lakh. The motto of this scheme is to promote small business and women entrepreneur. In this scheme, the borrower can avail the loan up to Rs.10 lakh and the repayment should be done within 10 years. The interest rate against the loan amount varies and depends upon the market.

Udyogini Scheme

Under this scheme, Rs.1 lakh loan could be sanctioned to the women who wish to enhance the business or want to go for the startup of a small business, but the age criteria are mandatory and the borrower must lies in the range of 18 years to 45 years. Apart from that, the other criteria are the annual family income and it should be Rs.45,000 or less. However, if the borrower is a disabled or widow then there won’t be any income limit.

In this loan, relaxation is provided to the SC/ST, or disabled women and windows too and that is the subsidiary feature and it will be 30% of the loan or Rs.10,000 whichever will be less. The subsidiary is also for the general women and it is 20% of the loan amount or Rs.7500 whichever will be less. To avail the loan, the borrower can move to the Punjab & Sind Bank and they will sanction the loan after going through the detailed application form and documents.

Orient Mahila Vikas Yojana

Through this scheme, the women who wish to start up their business as per their skills can get the loan up to Rs.10 lakh. But with a condition, that you must have a 51% stake of your business. The repayment duration of the loan is 7 years and the bonus feature of this scheme is the concession of 2% on the interest rate against the loan. However, if you are indulged in the Small Scale Industries then you can avail the loan up to Rs.25 lakh. In this scheme, no collateral is required, means if you don’t have the sufficient assets, even though you can get the loan from the Oriental Bank of Commerce.

Dena Shakti Bank

The Government has authorized the Dena Bank to provide the loan to the women who want to establish their business in the agricultural sector or manufacturing sector. In this scheme, Rs.20 lakh is the sanctioned limit and will also get the concession of 0.25% on the interest rate.

Annapurna Scheme

If you are planning to start a business on food catering, then this will be your ideal choice. Through this scheme, you can get various benefits which can empower your business and the first factor is the capital, you can avail the loan up to Rs.50,000 and need to repay the same within 3 years. But, collateral is required to get the loan, without the same you can’t avail the benefits of this scheme. However, if you have a personal guarantor who fulfills the requirement of the collateral, then you can avail the loan.

In most of the cases, the repayment period starts immediately after the sanction of the loan, but in this scheme, you will get the grace period of 1 month and this time period will help you to utilize the loan amount in an effective manner.

Bottom Line

Hence, these were some of the schemes launched by the Government of India to enhance the women entrepreneurs. So, if you also in the race then choose the one as per your business need and rush to the bank who is authorized to provide the loan.