Want to finally open that dream boutique, bakery, or tech firm? Turning your brilliant ideas into reality requires a certain level of funding.
From fashion to tech start-ups and small-scale manufacturing, women entrepreneurs in India are breaking barriers and building successful ventures across sectors.
If you are a woman planning to start or grow your own business but are unsure about the funds, here’s where business loans step in.
And here’s some good news – many Indian banks and government schemes offer special just for women.
Why Special Business Loans for Women?
Let’s face it—starting and running a business isn’t easy, especially for women who often juggle multiple responsibilities.
To bridge the funding gap, the Indian government and banks have created loan schemes that offer low interest rates, high flexibility in repayment, and an easy application process.
Top 6 Government Schemes Supporting Women’s Business
Have a look at the top schemes and banks that support women’s business:
1. Stand-Up India Scheme: Your Launchpad To Big Business
- Offered by: Government of India
- Loan Amount: Rs. 10 lakh to Rs. 1 crore
- Eligibility: SC/ST or women entrepreneurs above 18 years
- Purpose: Starting something new in manufacturing, services, or trading
- Tenure: Up to 7 years (Moratorium period of 18 months)
Key Benefit: No collateral and flexible repayment make it ideal for dreamers ready to build.
2. Pradhan Mantri Mudra Yojana for Women (PMMY): For Every Small Start
- Offered by: Government under MUDRA (Micro Units Development and Refinance Agency)
- Loan types: Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), Tarun (₹5 lakh to ₹10 lakh)
- Suitable for: Everything from home boutiques to mobile repair shops
- Tenure: 1 to 7 years.
Key Benefit: No collateral required and easily accessible through banks and NBFCs.
3. Annapurna Scheme: Stirring Success In The Kitchen
- Suitable for: Women starting food and catering businesses
- Loan amount: Up to Rs. 50,000
- Tenure: 3 years.
Key Benefit: Includes a 1-month grace period.
Note that applying to the Annapurna Scheme requires a guarantor and collateral. The availability varies based on the bank.
4. Udyogini Scheme: Empowering Small Women Entrepreneurs
- Offered by: Women Development Corporations of state governments
- Loan Limit: Up to ₹1 lakh
- Eligibility: Women aged 18–55 with family income under ₹1.5 lakh
- Tenure: 3 years (moratorium period of 3 months)
Key Benefit: Low or no interest for SC/ST applicants, and minimal paperwork.
5. Cent Kalyani Scheme: Big Support For Growing Ventures
- Offered by: Central Bank of India
- Loan Limit: Up to ₹1 crore
- Tenure: Up to 7 years.
Key Benefit: No collateral or processing fees, and ideal for businesses looking to scale.
6. Mahila Udyam Nidhi Scheme: Financial Healing & Growth
- Offered by: Punjab National Bank (PNB)
- Purpose: Help women repay existing loans or expand their ventures
- Loan Limit: Up to ₹10 lakh
- Tenure: Flexible repayment up to 10 years
Key Benefit: Women entrepreneurs will be assisted in running or planning to start small-scale industrial units, including manufacturing, service, and trade-based businesses.
Top 6 Banks Offering Business Loans For Women
Looking to fund your dream startup or grow your small business? These banks are reliable and actively encourage women-led businesses with quick approvals and services.
1. State Bank of India (SBI)
SBI supports women’s businesses with low interest rates and no processing fee on some loans. It also helps women apply under the Stand-Up India scheme.
2. HDFC Bank
HDFC offers loans with quick approvals, overdraft facilities, and less paperwork. Great for urban entrepreneurs looking for digital solutions.
3. ICICI Bank
This bank offers collateral-free loans, flexible repayment, and fast online approval.
4. Central Bank of India (CBI)
The Cent Kalyani Scheme by the Central Bank of India is designed specifically for small businesses by women. No collateral needed, and no processing charges either.
5. Bank of Baroda (BOB)
BOB provides loans for women in retail, farming, or small industries. Benefits include lower interest and easy terms.
6. Punjab National Bank (PNB)
PNB supports both new and existing businesses. You can even use the loan to repay older debt and grow your business.
How To Apply For A Business Loan In India?
- Visit the official websites of the respective bank or scheme and read the eligibility criteria carefully.
- For government schemes like Stand-Up India, you can register on the official website. For bank loans, apply via the bank’s SME or MSME section (SBI, PNB, CBI, etc) or visit the nearest branch.
- Submit the necessary KYC documents, financial, and business documents.
- The bank or scheme authority will review your application, verify documents, and may conduct a personal discussion.
- Once approved, the funds are transferred directly to your business account, often within 7–15 working days.
Here’s A Shortcut To Funding Your Dream Business
If you have no time to delay and need a quick option with less paperwork, loan aggregator platforms such as might be useful. It connects you to trusted lenders with flexible repayment tenures in just a few clicks.
Whether you’re in a metro or a small town, you can apply from your phone, access business loans from top banks and NBFCs on this platform instead of visiting multiple branches.
Conclusion
With a strong support system of government schemes, bank offers, and digital lending platforms, women entrepreneurs can now access the needed resources to build their dream business without hassle.
So, ready to plan it all out? Let the budget requirements no longer be a barrier to achieving your goals!
So, are you ready to take your business to the next level? Start by downloading the now! The loan to your dream business is just a few taps away!
FAQs
1. Can I get a business loan without collateral?
Yes, schemes like Mudra, Stand-Up India, and Cent Kalyani offer collateral-free loans.
- Is there any loan exclusively for food businesses run by women?
Yes, the Annapurna Scheme is designed for women-owned food businesses.
- Is there an age limit for women to apply for business loans?
The minimum age requirement set by most lenders for business loans is 21 years, and the maximum is 65-70 years.
- Can housewives apply for a business loan?
Yes, a housewife with a business plan and necessary documents or a co-applicant can apply for a business loan.