Top 5 Government Loan Schemes For Women: Women entrepreneurs are becoming a strong and emerging force in India. To promote women’s participation in the economy, the government has launched several initiatives.
Loan Schemes have been started. The aim of such schemes is to strengthen women by providing them with the necessary financial resources for their business. Let’s know about such top 5 government schemes Loan Schemes which women entrepreneurs can easily take advantage of.
Annapurna Scheme
Annapurna Yojana is designed for women engaged in food and catering business. According to this scheme, women can take a loan of up to Rs 50,000. This loan can be repaid in 36 installments. At the same time, approval from collateral and guarantor is required for this. The collateral for Annapurna Yojana loan is taken as property.
Stree Shakti Yojana
Stree Shakti Yojana has been launched to encourage women entrepreneurs and provide financial assistance in starting a business. Launched by the central government in 2000, this scheme provides women entrepreneurs a discount of 0.05% on loans above Rs 2 lakh. Applicants must enroll in EDP or Entrepreneurship Development Program.
Udyogini Scheme
Udyogini Yojana has been launched by the Government of India to promote entrepreneurship and economic empowerment of women in the country. The government provides loans to women entrepreneurs at lower interest rates than other lending institutions. Under this scheme, the government provides loans up to Rs 1 lakh to women entrepreneurs with an annual income of less than Rs 40,000.
Stand Up India scheme
Stand Up India scheme was launched by the Ministry of Finance to help women, Scheduled Caste (SC) or Scheduled Tribe (ST) entrepreneurs by providing bank loans for setting up greenfield project enterprises in manufacturing, service, trading sector and agriculture-related activities. Under the scheme, the government will provide a loan of Rs 10 lakh and Rs 1 crore to at least one woman, SC and ST entrepreneur per bank branch for setting up a greenfield project. For non-individual enterprises, a minimum of 51% shareholding should be held by a woman, SC or ST entrepreneur.
Mudra Yojana
Mudra Loan Scheme under Pradhan Mantri Mudra Yojana is a scheme launched by the government to provide loans to entrepreneurs. Pradhan Mantri Mudra Yojana is a scheme launched by the Government of India through which the government provides loans to non-agricultural and non-corporate micro and small enterprises without guarantee. Earlier the maximum loan amount under this scheme was Rs 10 lakh, but in the budget for FY 25 presented on 23 July 2024, Finance Minister Nirmala Sitharaman has announced to increase the amount of Mudra Yojana from Rs 10 lakh to Rs 20 lakh. The new limit of PM Mudra Yojana has come into effect from 24 October 2024.
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