Business Loan For Women

India has one of the most diverse startup ecosystems in the world. As a developing economy, India offers numerous opportunities, and the country's potential growth attracts many foreign firms. Although men dominated the field of startups and innovation in the past, a growing array of women entrepreneurs is emerging.

Many women are abandoning their high-paying jobs, while others are expanding their household limits to develop their entrepreneurial skills and eventually start a profitable business. A significant factor contributing to the increase in the number of female entrepreneurs is the accessibility of business loans.

Women entrepreneurs are setting the standard for profitable business projects worldwide. They assert that women are born leaders and often demonstrate their distinct management styles.

At FlexiLoans, we provide instant business loans to women entrepreneurs and help them reach new heights. We deliver a range of benefits to women entrepreneurs and work efficiently to meet their financial needs so that a lack of capital does not affect their growth.

The whole method of lending is dependent on concrete evidence and an enterprise's financial well-being. The entire process is dependable, fast, and flexible, allowing customized loan conditions for specific companies

Features of Business Loan for Women

With our innovative new business loans for women, businesses can achieve their business goals. We are the only ones who understand your business's needs, which is why our loans are designed to maximise the benefits.

• Quick processing

Our expedited disbursement process will approve your loan within three business days. A loan of up to Rs 10 crore is easy to obtain. We make every effort to minimise the time necessary to implement the loan and also ensure that it is made accessible within the specified period.

• Repayment Options

Business loans for women now come with a range of repayment options. Lenders are normally cognizant of the challenges involved in small business operations. Nonetheless, they have flexible terms and conditions. They can allow for a fluctuation in the EMI based on the financial condition of the company and also use bullet payments for periodic payments.

• Credit Score
  

FlexiLoans loans are ideal for boosting your business's credit score, and we monitor loan activity at all three major credit bureaus. Furthermore, a business loan from FlexiLoans is especially beneficial for companies that have recently seen their credit score decline due to unforeseen market conditions.

• Unsecured Business Loans for Women

FlexiLoans business loans do not need collateral and do not adversely affect your valuable savings. Accessing funding for your business does not require you to procure collateral. Our collateral-free business loan for women entrepreneurs makes it possible for any small business to raise funds for working capital requirements.

• Documents Required at a Minimum

One of our prime advantages is that we need minimal documentation to accept a loan application. As a result, we would not require you to provide extensive paperwork to secure a business loan from us. Also, since we offer business loans without requiring equity, you don't need any assets or collateral papers. Electronic uploading of documents for business loans is possible.

FlexiLoans has developed a number of financial schemes to provide business loans for women who are starting a new business or expanding an existing one. There are numerous loan programmes and schemes to choose from.

Benefits of Flexiloan's Business Loan for Women in India

• Unbiased loan approval

FlexiLoans believes in the economic growth of the nation and individuals without resorting to gender and race stereotypes. Our submission, certification, validation, and disbursement processes are entirely dependent on your entrepreneurial capacity. If a bank or non-bank financial company (NBFC) declines to approve your business loan for any of the above purposes, you can apply with us and get a fast business loan approval.

• Ownership

It allows you to maintain ownership of your business and safeguard your precious assets. Since our loans are unsecured, you don't have to provide collateral to qualify, and, unlike other invoice lending lenders and banks, we do not intervene with your business's operations in any way. As a result, you are still in charge of your company.

• Minimizing cash-flow risks

Additionally, FlexiLoans business loans allow women entrepreneurs to mitigate risks related to cash volatility. This is particularly true for small and medium-sized enterprises (SMEs) and startup ventures. A business loan helps you organise your operating capital fund while you begin to develop your client base and pursue capital formation

• Gain eligibility for increased funding

FlexiLoans records all of your payments to several credit bureaus, thus establishing your business's reputation and goodwill with leading investors and lenders. which would, in turn, increase the chances of obtaining additional financing or commercial collaboration opportunities for your fledgling business.

• Reliability

In the current Indian economic climate, running a company can be challenging. At times, seasonality and other factors will limit our funds. Obtaining a business loan is simple and easy. We quickly disburse the loan amount and limit the paperwork requirement. The approval period is very short; certain firms, such as FlexiLoans, have approval periods as low as 24 hours

Steps to Apply for Business Loan for Women Entrepreneurs

• Online Application

Visit the FlexiLoans website and complete the application process by entering all necessary details accurately. FlexiLoans will use this information to determine your business's loan eligibility.

• Online submission of required documents

Upload all necessary documentation, including identification documents, current account bank statements, and business identification papers

• Credit Analysis

We'll evaluate the business's performance and operations to determine the amount of money you're willing to borrow and the applicable business loan interest rates. Our loan officers will assist you in comprehending the offer and making an informed choice

• Loan Disbursement

After checking the paperwork and accepting the loan, FlexiLoans will exchange the loan agreement. Within 48 hours of signing the contract, we transfer funds to the applicant's account.

Flexiloans’s Eligibility Criteria for Business Loan for Women

FlexiLoans has simplified its eligibility conditions to the bare minimum to expedite the processing of a business loan for women. We don't ask for a lot of documentation or papers that can slow down the loan approval process.

• An individual must be 21 years of age when applying for the loan and not more than 65. 
• Business loans are available to individual corporations, sole proprietors, and private companies involved in trading, production, or services.
• The applicant must have worked in the industry for three years and have at least five years of experience.
• offers business loans to those businesses that have been running for at least a year and have monthly total sales of at least $2 million.
• If the company has been in business for more than three years, you can apply for a business loan.
• We would also ensure that there are no errors in previous accounts and, as such, the company is tax compliant.

Documents Required for Business Loan for Women

How do you calculate the EMI for your business loan?

You will determine the interest rate that we will apply to your loan using a business loan EMI calculator. Then you need to calculate the principal amount and the term of the loan. The principal amount is the amount you will borrow from the lender. The tenure is the total number of months or years you will repay the loan.

To calculate your monthly EMI, you need to use the following formula:

EMI = P x r x (1 + r)n/(1 + r)n - 1), where P represents the principal, r represents the monthly interest rate, n represents the number of months, and EMI represents the monthly payment.

For example, if you borrow Rs. 1 lakh for three years at a 10% annual interest rate, your monthly EMI will be: EMI = 100000 x 10% x (1 + 10%). 36/((1+10%)36 - 1) = Rs. 3,174 

You will need to pay a total amount of Rs. 1,14,496 as EMI over the entire loan tenure of 36 months.

Challenges and Problems Faced by Women Entrepreneurs in India

Women entrepreneurs in India face various challenges and problems that hinder their ability to start and grow successful businesses.

Some of the key challenges include:

1. Limited Access to Finance

Women entrepreneurs in India face difficulty when applying for business loans due to limited collateral and credit history. This makes it challenging to secure funding or investments to start or grow their businesses.

Without access to business loans, women entrepreneurs struggle to obtain the necessary resources to purchase equipment, hire employees, or expand their operations.

2. Societal Barriers

Traditional societal norms and stereotypes discourage women from pursuing careers or starting businesses. Family and social pressure also limit their mobility and ability to network, which is critical for business growth.

3. Lack of Mentors and Role Models

Women entrepreneurs in India lack access to mentors and role models who can guide and inspire them. This limits their ability to learn from experienced business leaders and acquire the skills and knowledge necessary for success.

4. Limited Access to Technology

Women entrepreneurs in rural areas face limited access to technology and digital infrastructure. This makes their ability to conduct online businesses or market their products more difficult. It also hampers their ability to take quick business loans online, such as those offered by FlexiLoans.

5. Regulatory Barriers

Women entrepreneurs face complex and time-consuming complex and time-consuming regulatory barriers such as licensing and registration requirements. This is challenging for those operating in the informal sector.

6. Balancing Work and Family Responsibilities

Women entrepreneurs face the additional challenge of balancing work and family responsibilities. This can be challenging in India, where most people expect women to prioritise family obligations over career or business pursuits.

How Business Loan Helps Women Entrepreneurs in India to overcome business disadvantages

Business loans for women from lenders such as FlexiLoans are a critical source of financial support for such entrepreneurs, helping them overcome some of the unique challenges and disadvantages they face in starting and growing their businesses.

With FlexiLoans, you will have easy access to funding with just a click, as well as tension-free loans that do not require collateral and minimal documentation processes. As a woman business owner, this will make handling your business a lot easier. Here's how a business loan for women can help:

1. Access to Necessary Capital

Business loans can be instrumental in providing the necessary capital for women entrepreneurs to invest in equipment, inventory, and other essential resources. If you are looking to start a new business or to grow your existing enterprises, business loans help with funding all different kinds of ventures.

By securing business loans for women, you can access the funds you need to purchase essential equipment or inventory, which will help you to expand and grow your business.

2. Building Credit and Financial History

Business loans are crucial in helping women entrepreneurs establish and build their credit. This has a significant impact on their ability to secure future financing. Women entrepreneurs with limited collateral or credit history face additional challenges in accessing the funds needed to start or grow their businesses.

By taking a business loan for women and making timely payments, you can establish a solid financial history for your future needs and build a strong creditworthiness.

3. Greater Flexibility and Control

Business loans provide women entrepreneurs with greater flexibility and control over their businesses. Loans from reputable institutions like FlexiLoans have flexible repayment schedules that can be adjusted according to your situation. This makes it easier for you to run your business without having the extra stress about repaying a loan.

4. Freedom in Decision Making

A business loan for women enables such entrepreneurs to finance their businesses all by themselves. With the support of a loan, you won't have to depend on external investors who may want equity or some level of control over your business. You can freely make decisions about your business without the pressure or influence of anyone else.

5. Networking Opportunities

Some lenders or financial institutions that provide business loans for women also offer networking events, mentorship programmes, or business resources specifically tailored for women entrepreneurs. These opportunities can help connect you with valuable contacts, support systems, and knowledge-sharing platforms to foster growth and success.

6. Empowerment and Equality

Most importantly, access to business loans for women entrepreneurs promotes gender equality in the business world. It helps overcome systemic and psychological barriers, empowers women to pursue their entrepreneurial dreams, and contributes to overall economic empowerment and gender parity. Getting a business loan might empower you to work shoulder-to-shoulder with just about anyone in the industry.

Latest News and Updates:

May 10th, 2023

Kissandhan, the agriculture lending company under SLCM Group, has extended financial support of more than INR 84.80 crore to over 19,000 women entrepreneurs during the fiscal year 2023 through its 'Business Correspondent (BC) Partnership Lending Programme'.

The initiative by Kissandhan Agri Finance aims to address the challenges faced by women in agriculture in India, including limited access to credit and decision-making authority. The average loan amount provided by the business correspondents is INR 40,000 ($537). So far, the programme has positively impacted more than 600,000 farmers, agricultural traders, and processors, with loan disbursements totalling over INR 2,700 crore.

May 2nd, 2023

On Tuesday, Google unveiled the second edition of its 'Startups Accelerator: Women Founders' programme in India. This initiative aims to support women entrepreneurs who implement technology to address challenging issues and create a positive societal impact.

The three-month programme provides participating startups – spanning various sectors like healthcare, education, finance, and e-commerce – with mentorship, workshops, access to resources, and networking opportunities.

March 7th, 2023

Women entrepreneurs in India are making significant strides in the country's startup ecosystem, launching approximately 15% of all startups. One of the notable challenges they have been overcoming is gaining access to credit, a crucial aspect of entrepreneurship.

According to a recent report published by TransUnion CIBIL, the number of women taking business loans in India reached 63 million in 2022, constituting 28% of the total borrowers. Moreover, their representation in semi-rural and rural areas rose to an impressive 62%.

Between 2017 and 2022, the states witnessing the highest growth in women borrowers were West Bengal (22%), Rajasthan (21%), and Bihar (21%). This data highlights the increasing participation of women in India's credit ecosystem, showcasing their growing entrepreneurial endeavours and financial inclusion.

It goes without saying that running a business is a tough job. Even still, an increasing number of sharp minds are taking the initiative to start new businesses that solve problems and make people's lives easier. Along with the passion and will to learn and grow of the entrepreneur, finances are also one of the more crucial needs of a business.

As a woman, society may have stigmatised your role till now. But it is time to break free of those notions and start the business you have been dreaming of. FlexiLoans is here to help you with just that. We aim to provide you with the necessary financial support with our range of business loans for women. FlexiLoans' flexible repayment structure and negotiable interest rates on our unsecured loans ensure that you run your business without worrying about repayment.

FlexiLoans' online setup, equipped with the latest technology, makes it possible for you to access business finance in just a few steps and for us to reach out to you in case you need any help. So, what are you waiting for? Apply now to Flexiloans' business loans and start your own business, fearlessly!

Frequently asked questions