Even though there have been several breakthroughs in the recent few years, as far as women entrepreneurship is concerned, India still has a long way to go when it comes to women’s participation in business. Oftentimes, the lack of viable financing solution discourages women from taking up the reins and set up their own ventures.
To bridge this gap, however, the government of India, alongside other lending institutions, have made business loans for women available to eligible candidates.
The different business loans offered by the government of India and the other financial institutions aim to increase the number of women entrepreneur participation in the MSMEs and their overall contribution to the Indian economy. These are some of the most viable loans for women options available –
- Mudra Yojana Scheme for women
- Mahila Udyam Nidhi scheme
- Udyogini yojana
- Loan against securities
- Gold loans
- Business loans for women
These business loans are mostly unsecured collateral-free credits with low-interest rates and flexible repayment tenor. These advances can be utilized to meet any number of business-related requirements, ranging from expansion or purchasing new equipment to maintaining working capital. You can also get bajaj finserv flexi loan at low interest rates.