Business Loans for Women

Women entrepreneurs have excelled and achieved in corporate and business sphere. However, it has never been easy for women entrepreneurs to start and grow their business. They have the expertise and zeal to work hard but find it difficult to arrange for the finances. Realizing the importance of women in the country's economic growth, the government of India promotes various schemes to promote women entrepreneurs. Most of this support is provided in the form of low-interest loans or grants.

 

Many financial institutions offer lower interest rates on business loans for women with flexible repayment schemes. Even women in MSME (Micro, Small and Medium Enterprises) can avail loans (MSME Loan) to fund their business expenses and growth. Women-owned businesses not only help the women become economically independent but also, create endless job opportunities for others.

 

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Eligibility & Documents Required

 

Women applying for business loans need to make sure that they meet the eligibility requirements below:

  • You must be at least 25 years old and less than 65 years
  • Your business must be profitable for 3 consecutive financial years
  • Your turnover needs to show an upward trend
  • Your balance sheet must be audited by a registered chartered accountant

Also make sure that you have all the relevant supporting documents listed below before you apply.

  • Know Your Customer Documents - Address, Age & Nationality proofs like Passport, Aadhaar, PAN card and other documents of the Directors or Partners.
  • Proof of Business (ITR/Trade License/Establishment/Sales Tax Certificate)
  • Sole Proprietorship Declaration or certified copy of Partnership Deed
  • Certified true copy of Memorandum and Articles of Association
  • Bank statements for last 6 months
  • Income Tax Returns along with computation for last 3 years
  • Audited Financials for Last 2 years
  • Qualification Documents - Like degrees of graduation & higher education

What are the Business Loan Interest Rates?

 

We charge interest rates in the range 18-24% based on factors such as borrower's credit rating, prime lending rate, loan tenure, monthly revenues and competitors of your business. We provide business loans for women up to a maximum of 50 lakhs without any collateral or guarantee. Here is a list of the processing fees and charges.

 

Why Tata Capital?

 

If you're looking for easy, hassle-free business loans for women that offer you complete transparency and convenient repayment options, opt for Tata Capital loans. We don't ask for collaterals or guarantors on our business loans for women, making it a preferred choice for women entrepreneurs. We provide multiple benefits to our customers such as:

  • Transparent Interest Rates: Interest rates for business loans are dependent on multiple factors such as borrower credentials, the tenure of the loan, market dynamics, cost of funds etc. Tata Capital provides complete transparency with respect to your business loan interest rates so you can plan your financials better.
  • Multiple Loan Programs: Tata Capital offers multiple loan programs, assessed by a team of experts based on banking, cash profit and turnover. Even qualified professionals such as doctors can apply for a suitable business loan.
  • Hassle-free Loan Disbursement: With Tata Capital business loans, you get to benefit from an easy and quick loan disbursement. Once you submit a duly-filled application along with relevant supporting documents, business loans are usually approved within 3 days.
  • Flexi EMIs: Tata Capital's Flexi EMI option allows you to select a repayment method that suits you best. You can opt for increasing your EMIs each year, or reduce them gradually or even repay your loan periodically to reduce your EMI.

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FAQs

 

Q: What is the maximum business loan you are eligible for?

A: You can avail up to a maximum of 50 lakhs without any collateral or guarantee.

 

Q: How much Business Loan EMI do I need to pay?

A: You can use our Business Loan EMI calculator to calculate the EMI you want to pay based on your convenience.

 

Q: How to apply for a Business Loan for women?

A: You can apply for our business loans in 3 easy steps:

Q: How much time does it take to get approved?

A: Once we receive a completed form and the relevant documents, our business loans are usually disbursed in 3 days.