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Tata Capital > Blog > Loan for Business > Government Schemes That Help Women Entrepreneurs in India

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Government Schemes That Help Women Entrepreneurs in India

Government Schemes That Help Women Entrepreneurs in India

Gender equality has become a critical component in the business world. The MSME sector that once brimmed with businessmen is now welcoming women from different social and societal backgrounds with open arms. The launch of various government schemes for female entrepreneurs in India has also encouraged women to come forward. These include both state government schemes such as the Maharashtra Government schemes for women’s business and the Central Government schemes like the Mudra Yojana.

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Here is a look at some of the top government schemes for women entrepreneurs entering the MSME world that can be found beneficial.

#1 Annapurna Scheme

Many women are incredible chefs and can benefit economically by establishing their catering businesses. This government scheme for female entrepreneurs in India aims at supporting women who wish to start a catering unit. The Annapurna scheme allows women to borrow up to Rs. 50,000. This loan can be repaid in 36 total installments and requires collateral and a guarantor for approval. The collateral for Annapurna scheme loans is taken in the form of assets.

Additional Read:- 5 Types of Business Loans to Empower Women Entrepreneurs

#2 Pradhan Mantri Rozgar Yojna

It is one of the most important government schemes for women entrepreneurs. The purpose is to provide women with skill-based self-employment opportunities. This program applies to all types of businesses in the manufacturing, trade, and service sectors.

The maximum loan subsidy amount is 15% of the project costs, with a per-borrower cap of Rs 12,500. The maximum loan for a business is Rs. 2 lakhs, whereas the maximum loan for a service industry is Rs. 5 lakhs.

#3 Mudra Yojana Scheme

One of the most popular schemes for a government loan for women for business in India, the Mudra Yojana scheme allows women to start different types of small or medium-sized companies including beauty parlours, tuition centres, tailoring shops, etc. The lower limit for the amount sanctioned under this government loan for women for business in India is Rs. 50,000, while the upper limit is Rs. 50 lakhs.

If the borrowed amount is less than Rs. 10 lakhs, the borrower does not have to give a collateral. The three categories of Mudra Yojana loans for women are:

#1 Shishu: The upper limit for Shishu loans is Rs. 50,000 and they can be used for business establishment.

#2 Kishor: Starting at Rs. 50,000 and going up to Rs. 5 lakhs, these business loans for women are meant for well-established enterprises.

#3 Tarun: Tarun loans help with business expansion. They range between Rs. 5 lakhs and Rs. 10 lakhs.

#4 Cent Kalyani Scheme

Another government scheme for women entrepreneurs is Cent Kalyani Scheme. Under the Cent Kalyani Scheme, the Central Bank of India offers women entrepreneurs loans for running a business in sectors like retail and agriculture. These loans do not require any collateral or guarantor and can go up to Rs. 1 crore.

The interest rate on loans depends on market rates. The maximum loan repayment period is seven years.

#5 Trade-Related Entrepreneurship Assistance and Development Program

The Trade-Related Entrepreneurship Assistance and Development (TREAD) program aims to empower women by giving them the funding they need for projects involving training, counselling, and the skills they need to manage the companies successfully.

The government scheme for women entrepreneurs aim to increase the business acumen of women. The government contributes up to 30% of the final project cost under this program, as determined by the financial institutions. The remaining 70% of the project's costs is provided as a loan by the lending institution so that the activities outlined in the project can be carried out.

In the end

While these government schemes for women entrepreneurs are excellent, women in business can also opt for NBFC loans. Tata Capital offers one of the most hassle-free MSME loans in India. To promote women empowerment, loans from Tata Capital guarantee quick approval and disbursement. Tata Capital SME business loans for women have a starting interest rate of 19% and a flexible and customized EMI schedule. We offer both online and offline application modes for all our business loans. You can find the relevant eligibility and documentation details on our website.

Additional Read:- Top 4 Investment Tips for Women to Start Their Financial Journey

Contact us today to know more about Tata Capital loans for women in business.

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