Business Finance: Loans For Women Entrepreneurs In India

Indian women who want to follow their passion of starting their own businesses are successfully entering the business market as entrepreneurs. If you’ve been planning to start up your own catering, tailoring, retailing or cyber café business, there’s some good news for you.

Your capital for starting up a business can be successfully met with the financial help in the form of loans for Indian women entrepreneurs. Several financial institutions, public sector banks, private banks and NGOs are now offering to help aspiring women entrepreneurs like you.

Loan ApplicationEstablishing and expanding your own business no longer has to remain just a dream, if you’re a woman who wants to achieve significantly in life and have the required skill as well as the talent to start their own businesses. But when it comes to the basic capital to start up the business, things become problematic.

Not all women are supported by their family or spouse to start their own business. If you have been facing similar problems, which have been holding you back, then you need to know that help is available in the form of small business loans for women in India.

While opting for a loan, you have several options at hand. You can either start your business using your savings, and as it begins its successful run, research the various loan schemes for women available to expand your business. The other viable option is to start your business with a small business loan and repay it as your business grows.

There are several institutions ready with helping hands for you, such as Government Finance Schemes, Public Sector Banks, NGOs, Microfinance Institutions, Self-Help Groups, etc. You can choose any one of them depending on the type of financial assistance you require.

Though various schemes for women entrepreneurs in India have existed for a while, women have not been able to maximise their benefits. This has been mainly because women entrepreneurs are not aware about the different avenues of business credit available to them.

How to Apply for Bank Loans for Women Entrepreneurs

Applicants for bank loans for women entrepreneurs are generally required to fulfill certain criteria including a good credit history. That is, you should have made credit card payments or other loan payments on time. This reflects your pay-back power and will help to increase your chances while applying for loans.

You need to have been filing your Income Tax returns on time and have relevant documents with you. Write up a business plan so you can show the bank or any other loan lender how you plan to earn enough to repay the loan—from the profits or by expanding the business.

Your business’ net worth should be positive and there should be no outstanding debts. You can convince the loan lender that you are in the position of paying back with your savings or assets if need be.

In order to be approved for a small business loan for women in India, you will require a guarantor. You need to select a reliable friend or partner from among your family or acquaintances to apply for the loan.

Did you fund or are planning to fund your growth with a business loan? What was your experience? Do share it with us in the comments below.


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Business Resources For Women:

  • Business Credit Jumpstart: Insider Secrets To Getting Money From Banks And Lenders – If you’re looking to get your hands on business credit for your business… whether you are just getting off the ground or been in business for quite some time, then this is absolutely for you. Download this step-by-step system for getting money for your business without risking your own personal credit or having to ever walk into a bank.
  • Business Plan Toolkit – Do you really want to waste hours typing up an outline and formatting just to have to figure out what to write? Download this actual small business plan from a real business, plus all the charts, graphs, and expert add-ons to make plugging in your own info easy. Now you can focus on creating your own killer business plan without all the hassles. Use this plan as an example and take the guesswork out of your business plan. It literally can mean the difference between writing a business plan or procrastinating it forever.
  • Business Plans – Over 2000 business plans including – 40 spreadsheets, over 60 word documents, over 10 business audio files, 3 video tutorials, 10 articles on business on the web and 1 year free web hosting… plus more bonus stuff!

Photo credit EyeLens

One Comment on “Business Finance: Loans For Women Entrepreneurs In India”

  • Invoice discounting wrote on 2 June, 2012, 10:37

    A business loan can help you finance a money as your capital to start up a business and to know that womens in India are business minded so i guess it is easy for them to start up successfully without any problem with their business financials.

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