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Home > Business Loan for Women

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 Small 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 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

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

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.


Women entrepreneurs in India face common issues

Some of the most common problems faced by women entrepreneurs in India are

  1. Access to finance: Due to the lack of collateral, women often find it challenging to get loans from banks and other financial institutions.
  2. Lack of mentors and role models: Women entrepreneurs often lack mentors and role models who can guide them and give them the necessary support.
  3. Social and cultural barriers: Women entrepreneurs face social and cultural barriers that prevent them from taking up leadership positions. Male counterparts often don't take them seriously and don't give them the same opportunities.
  4. Gender bias: Men often give women entrepreneurs less recognition and respect than they give their male counterparts.
  5. Lack of networking opportunities: Women entrepreneurs often find it difficult to network with other business owners and professionals due to the lack of networking opportunities.

Female entrepreneurs' favourite business loan programmes

1. Pradhan Mantri Mudra Yojana (PMMY)

The Pradhan Mantri Mudra Yojana is a scheme launched by the Indian government in 2015 to provide easy access to finance for small businesses. Under this scheme, women entrepreneurs can avail themselves of loans of up to Rs 10 lakh at lower interest rates. The repayment period for these loans is up to 5 years.

2. Stand-Up India Scheme

The Stand-Up India Scheme is a government initiative that provides easy access to credit for small businesses. Under this scheme, women entrepreneurs can avail themselves of loans of up to Rs 1 crore at interest rates starting at 11.25%. The repayment period for these loans is up to 7 years.

3. Credit Linked Subsidy Scheme (CLSS)

The Credit Linked Subsidy Scheme (CLSS) is a government initiative providing interest subsidies on home loans for women entrepreneurs in the economically weaker sections of society. Under this scheme, women entrepreneurs can avail themselves of loans of up to Rs 6 lakh at an interest rate of 6.5%. The repayment period for these loans is 30 years.

4. SIDBI Women Entrepreneur Growth Scheme (WEGS)

The SIDBI Women Entrepreneur Growth Scheme (WEGS) is a scheme launched by the Small Industries Development Bank of India (SIDBI) to provide easy access to finance for small businesses. Under this scheme, women entrepreneurs can avail themselves of loans of up to Rs 1 crore at interest rates starting at 11.25%. The repayment period for these loans is up to 7 years.

5. Prime Minister’s Employment Generation Programme (PMEGP)

The Prime Minister’s Employment Generation Programme (PMEGP) is a scheme launched by the Indian government to provide easy access to finance for small businesses. Under this scheme, women entrepreneurs can avail themselves of loans of up to Rs 1 crore at interest rates starting at 11.25%. The repayment period for these loans is up to 7 years.

Frequently asked questions

What are the purposes for which I can get a loan via FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans via FlexiLoans for:
  • Expanding your business
  • Servicing regular working capital needs
  • Managing seasonal working capital requirements
  • Manage short term cash flow gaps

Why should I avail loan via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

What are the documents required for getting a business loan for women?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

What is the interest rate charged on a business loan for women entrepreneurs?

Interest rates on business loans for women entrepreneurs are generally lower than those charged on regular business loans.

Do I need to provide collateral for a business loan for women entrepreneurs?

No, you do not need to provide collateral for a business loan for women entrepreneurs. This is because these loans are typically offered as unsecured loans.

What is the interest rate for business loan for women?

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.

What is the interest rate for business loan for women?

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.

What are the eligibility criteria for a business loan for women entrepreneurs?

The eligibility criteria differ from lender to lender. However, some common ones include being at least 21 years of age, having a minimum annual turnover of Rs. 1 lakh, and being in business for at least 1 year.

What is the tenure for a business loan for women entrepreneurs?

The tenure for a business loan for women entrepreneurs is usually between 1 and 5 years.

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

We may charge processing fee to facilitate the loan towards legal and documentation charges.

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.