If you are a woman entrepreneur in need of funds then knowing about certain schemes would prove to be immensely helpful. Read on to know about them in some detail.

Stand Up India

A working capital loan, Stand up India can solve your dilemma. Women entrepreneurs and those belonging to Scheduled Castes and Scheduled Tribes can avail of a loan under this scheme. The minimum amount that can be drawn under the Stand Up India scheme is ₹10 lakh while the maximum is ₹1 crore. Though no collateral is required to avail loan under this scheme the applicant needs to have a guarantor. The loan availed under this category has to be repaid at the most within seven years.

Union Nari Shakti

Union Nari Shakti is the Union Bank of India initiative and offers loans to women entrepreneurs of micro, small and medium enterprises who have a 51% stake in the business. The loan thus availed can be used for purchasing, constructing, or renovating a factory, office, shop, or warehouse as well as for purchasing machinery and other equipment. The minimum amount that can be drawn under this scheme is ₹2 lakh while the maximum is ₹2 crores. The repayment period of the Union Nari Shakti scheme is 7 years. The bank can also ask for collateral from the applicant.

Udyogini Scheme

Udyogini scheme is conceived for helping women from rural and under-developed regions that can draw up to ₹3 lakh for their small business. However, to avail loan under Udyogini Scheme, the applicant’s age must be between 25 & 65 years, and her family income less than ₹1.5 lakh a year.  

IDFC FIRST Bank Sakhi Shakti

IDFC has many credits and savings to its credit that are aimed at meeting the requirements of rural households. Sakhi Shakti scheme is an extension of the list and offers Livelihood Advancement Loan to women with basic identification like Aadhaar. The applicant who avails loan under this category has to undergo group training that introduces them to every aspect of the loan as well as its terms and conditions.

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