Business Loan For Women

India is experiencing massive growth in its SME sector. The contribution of the MSME sector over our industrial output is 45%, producing 40% of the GDP output. Women entrepreneurs in India are an essential part of this success story. Usually, female business persons have found it difficult to borrow business loan for women in India because of many social issues. Nevertheless, the current transformation in business finance and the rise of FinTech lenders have made it simpler for women with business ideas to get an business loan online in India. Now, women business loans are also empowering self-employment in urban and rural India.

Features of Loan for Women

Indifi is a ruling FinTech business loan provider in India. Being a digital marketplace, the business loan for women approval process of Indifi depends on big data and business analytics technologies. The entire procedure depends on the financial well-being of an organization.

Flexible payback duration: We provide small business loans for women with a maximized payback window of 1-12 months, adjusted according to the principal amount.

High loan limit: We offer business loan ranging from INR 50000 to INR 50 Lakhs for funding business targets of women entrepreneurs – from buying the latest equipment to maximizing your business for serving clients.

Zero collateral: We don’t need collateral or guarantor for making the online application procedure easy and quick.

• Approval within 48 hours: Our business loans for women are made easy with a fast online application process and loan approval within 48 hours.

Minimal documentation required: We have set easy eligibility criteria on a business loan for women with minimal documents required for applying for the loan.

Online loan application: Our business loan application procedure is completely online that makes it quicker than applying for a loan with a traditional lender.

Competitive rates of interest: Since we utilize data analytics for measuring all features of a loan product, our business loan for women come with the best rates of interest.

No hidden fees:Indifi provides business loan for women in India with a simple processing fee based on the approved loan amount. Otherwise, there is no other hidden cost involved.

Benefits of Loans for Women through Indifi

Being a leading FinTech lender in India, Indifi offers small business loans for women entrepreneurs across India. Take a look at the benefits of borrowing our business loan for women:

Fast processing: With a quick turnaround time of 2 days, you can disburse the loan amount from us. Our fast business loan for women make sure you don’t miss out on vital business scopes which come your way.

Unbiased loan approval process: We believe in the economic development of India and Indians, regardless of social issues regarding race and gender. Our online loan application, approval, authentication, and loan amount disbursal procedures totally depend on your entrepreneurial expertise. If you don’t get business loan from a traditional lender or any other NBFC, we would be happy to lend you a instant business loan.

Minimized cash flow risks: Indifi’s business loans for women minimize risks related to cash flow fluctuations. This is highly crucial for SMEs or start-up companies. Borrow our business loan to increase your working capital so you can grow your client base and attempt capital creation.

Control your business perfectly: Our business loan for women help you control your organization and keep your precious assets safe. Since we provide unsecured loan, you don’t have to pledge collateral, unlike some traditional lenders. Moreover, we don’t interfere with your business; hence, you will be your own boss.

Open up more business opportunities: We help you create credibility and reputation for your business among ruling investors. As a result, this opens up many business opportunities like commercial partnership scopes for your SME.

Eligibility Criteria for Business Loan for Women through Indifi

Indifi has made flexible eligibility criteria for processing quick business loan for women. We don’t ask for lots of documents and unwanted paperwork to delay the loan approval procedure. The set of eligibility criteria for women business loans is:

Minimum 1 years of successful business operation.

Age greater than 22 years.

1 years of ITR for more than 10 lakhs of turnover.

In case you are uncertain whether your business is eligible for our loan, you can contact us for confirmation.

Documents Required for a Business Loans for Women

We accept the following documents to approve a business loan for women in India:

KYC documents of the company and its owner

Bank statement for the last six months

The latest ITR in case of borrowing business loans more than 15 lakhs

FAQ Related To Loan For Women

Entrepreneurship in India is not restricted to men only in the current era; these days, women are making active strides to start a business of their own. The need for funds to start the business is met by loan schemes for women entrepreneurs.

What is the procedure to apply for a small business loan for a woman?

There are both modes of loan application available for a woman entrepreneur; either she can visit a bank’s branch physically to know more about the loan and its terms and conditions, or else, she can read everything about it online on the bank’s website and contact customer care if she needs any clarification. They can even compare different such loan schemes for women entrepreneurs to get the best deal on these loans.

What type of loans are available for women entrepreneurs in India?

When it comes to corporate loans for women entrepreneurs, they can be MSME loans, e-commerce business loans, working capital loans, term loans, short-term business loans, business credit card, line of credit or overdraft facility etc. There are some lenders who also give a concession in interest rates to women entrepreneurs.

What are some of the loans available for women entrepreneurs? Which is the best out of them?

Some of the famous business loans for women are Cent Kalyani by Central Bank of India, Stree Shakti Package by SBI, Shringaar/Annapurna by Bhartiya Mahila Bank, Synd Mahila Shakthi by Canara Bank, Shakti Scheme by Bank of Baroda, etc. Cent Kalyani by the Central Bank of India is ideal as an MSME loan, as its interest rates are lowest at 7.4% with zero processing fee and without collateral.

Which lenders can a women entrepreneur approach to get a small business loan?

These loans are offered by many small banks in the likes of micro-finance institutions, small finance banks, regional rural banks, rural and urban co-operative banks, public sector banks, etc. They give small business loans after providing a rebate in interest rates.

What are some of the loan schemes that are provided by the government for women to start a business of their own?

The government of India has given an equal push in this direction, and has come out with several such loan schemes for women entrepreneurs. Some of these schemes are Mudra Yojana, Prime Minister’s Employment Generation Programme (PMEGP), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Stand-up India, Start-up India, PSB Loans in 59 minutes, to name a few.

HOW DO I APPLY FOR A LOAN?

Applying is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. Securely connect your bank information so we can assess your business without long forms, waiting in line or having to dig up old paperwork. Your association with business services who we have partnered with helps get you more fitting loans.

WHAT DOCUMENTS ARE REQUIRED TO AVAIL A LOAN?

We need your

1. Pan Card
2. Aadhaar Card
3. Address proof of self and firm
4. Business registration proof
5. Bank Statement last 6 months.
   In case of loan more than 15 lacs, latest ITR