Women are a very important part of the economy with a lot of new enterprises and ventures being fronted by them. The past few years have seen a phenomenal growth in the numbers of women entrepreneurs and business owners. A lot of start-ups and small as well as medium scale businesses are being operated by women. As is the case with every business, shortage of money is a reality and need for it is quite high for operational and/or expansion purposes. All businesses can get business loans to meet these needs from all the major banks and financial institutions. But many private sector banks offer special schemes for business entities which are owned and managed by women to give a boost to their participation in commerce, industry and trade.

A business loan for women comes with concessions and offers which are not available on a normal one. In most cases these concessions are applicable on the business loan only if a woman owns 51% of the company or more. Different banks (mostly in the public sector) have varied schemes as part of their lending initiatives for women owned enterprises. Some give collateral free loans, some other have lower interest rates while others have schemes to encourage tiny home businesses through moratoriums.

Prominent banks like SBI offer a 0.5% reduction on business loans to women if the amount of loan is exceeds Rs. 2lakh. They do not ask for security if the loan amount is below Rs. 5lakh. The Bharatiya Mahila Bank (BMB) has a system to extend loans of upto Rs. 1crore without collateral to women under the CGTMSE scheme.

If you want to know more about these options and how to get a loan as a woman entrepreneur then apply for a business loan by filling our form.

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