BUSINESS LOAN FOR WOMEN

img

Home > Business Loan for Women

Business Loan for Women

Different Business Loan Options for Women Entrepreneurs

Times are changing at a breakneck pace, and so is the relationship between men and women. In the past, they were the men who ruled the field of entrepreneurship and start-ups. But with time, women entrepreneurs have taken the centre-stage. There are even women who are giving up their high-paying jobs to explore their leadership and entrepreneurship skills. Women are giving tough competition to men in the field of running successful businesses. Keeping other reasons aside, one specific reason why more and more women are contributing to the start-up ecosystem is because of the easy availability of business loan for women.


Different Types of Small Business Loans for Women

Those times had long gone when the poor souls did nothing but wondered how can a woman get a business loan? These are times when there are a plethora of business loan options for women entrepreneurs available in the market. The top choices include:

Small Business Loans

An increasing number of NBFCs like FlexiLoans now provide different varieties of SME or small business loans to women entrepreneurs. While the majority of these finances are available only for the existing businesses, there are some that provide short-term loans for the start-ups as well. For example, FlexiLoans’ Line of Credit loans is one of the most well-known options for the medium and small-scale women entrepreneurs.

This is an option where the applicant’s eligibility is used by the lending organisation for determining her maximum line of credit amount. The female business enthusiasts can then avail cash from the lenders up to their maximum credit limit. When they make the loan repayment, they will just have to pay the internet on the money they have actually used and not the whole credit limit. This option works for both existing businesses and start-ups.

FlexiLoans is not strict with its eligibility criteria for women entrepreneurs to seek a line of credit loans. Nevertheless, it is essential for the borrowers to check the requirements before submitting their loan applications.


Features of Small Business Loans

Some of the most important features of small business loans for women entrepreneurs are as follows:

  • Different varieties of loan alternatives to make your choice from.
  • Both secured and unsecured options available.
  • Perfect for short-term financing requirements of the women entrepreneurs.
  • Affordable rates of interest.

There are even term loans and loan against POS options available for women who are finding it challenging to manage their daily business expenditures.


Basic Eligibility Criteria

Minimum Business Vintage 1 year
Monthly Business Sales Minimum 2,00,000

Documents Required & Basic Eligibility 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

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 documents are required to apply for a loan?

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

Are there any charges other than interest rate that I have to pay to avail the loan?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

Is there any collateral for the business loan?

FlexiLoans provides only collateral free business loans. So, you do not need collateral for applying for a business loan.

What is the business loan interest rate?

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

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.