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Business Loans for Women

Business loans for women in India empower aspiring and established women entrepreneurs to achieve their professional goals. At SMFG India Credit, we support women-led enterprises by offering customised business financing for women tailored to a wide range of enterprise needs. Whether you're planning to expand operations or manage cash flow, our loans for female business owners are designed to provide timely financial assistance with ease and flexibility. We strive to be a trusted partner in your journey towards sustained business growth.

Features and Benefits of Business Loan For Women

Here are the top benefits of choosing an SMFG India Credit business loan for women:

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Unsecured Loan Amounts of up to ‌‌75 Lakhs*

Women entrepreneurs can access high-value business loans without pledging any collateral, providing the freedom to focus on business growth.

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Affordable Interest Rates

Enjoy competitive interest rates* on business loans for ladies, helping reduce overall borrowing costs.

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No collateral required*

These loans for female business owners are entirely unsecured, removing the need to pledge personal or business assets as security.

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Flexible repayment options

Repay at your convenience with flexible tenures ranging from 12 to 60 months*, making it easier to manage your budget and plan for long-term goals.

With these tailored benefits and a simplified online application process, women entrepreneurs can take confident steps toward building and expanding their businesses.

*Terms & Conditions apply

Eligibility Criteria for Business Loan for Women

The eligibility criteria for a business loan for women include the following:

  1. If you are a self-employed individual, proprietor, private limited company, or partnership firm in manufacturing, trading, or services, you are eligible for a business loan.
  2. There should be a minimum of three years of experience in the current business and a total of five years of overall business experience.
  3. You, as an individual applicant, should be at least 22 years old at the time of application and less than 65 years old at the loan's maturity.
  4. For enterprises, a minimum turnover of INR 10 lakhs, consistent profits for the past two years, and a minimal annual income of INR 2 lakhs per year are required for eligibility.
  5. You should be a resident citizen of India and have a minimum CIBIL score of 750

The entrepreneurial spirit is in full bloom among women in India. However, the greatest obstacle in their path to kick starting their business journey comes down to funding. While some may have savings or be able to access financing from family and friends, in most cases, it may not be enough. This is where a business loan for women by SMFG India Credit enters the picture.

Documents Required for Business Loan for Women

Business loans for women may be difficult to get approved because it comes with a lot of eligibility parameters that the applicant must be able to meet. However, if that stage is covered successfully, the next step involves getting together all the business loan documents that must be submitted to SMFG India Credit to process the loan request.

  • All KYC related documents for the individual’s ID, address and age proof – Voter ID, Passport, Driving Licence, Aadhar Card, Pan Card
  • ID proof required for the company – Pan Card
  • Bank statements are required for the last 6 months
  • Income documents including the latest ITR for 2 years along with income computation, balance sheet, profit and loss statements certified from a licensed CA
  • Proof of continuation via ITR/ Trade License / Establishment / Sales Tax Certificate
  • Other documents that may also be required are a Sole Proprietorship Declaration or a certified copy of the Partnership Deed, a certified true copy of the Memorandum & Articles of Association and the Board Resolution.

Interest Rates & Charges of Business Loan for Women

Women today are stepping confidently into entrepreneurship, turning ideas into thriving ventures. But, one of the biggest hurdles many face is securing the right funding to bring their vision to life. That’s where business loans for women can play a transformative role.

Interest rates on business loans for ladies generally depend on factors like the amount of loan requested, the tenure selected, the applicant’s profile and credit history, and their current financial status. In addition, borrowers should be aware of associated fees and charges, such as a processing fee of up to 5% of the loan amount (plus GST), and potential prepayment fees ranging from 0% to 7%.

Commonly Asked Details

SMFG India Credit’s Business Loans for Women

Is there any processing fee?

Yes, Up to 5% of the total loan amount + GST

What is the loan tenure?

Between 12 months to 60 months

Are there any pre-closure charges?

Yes, the prepayment charges range from 0% to 7%

What are the eligibility criteria?

Turnover should be at least INR 10 lakhs* with 2 years of profit-making business. Minimum eligibility criteria can be checked here.

Unsecured Business Loan Amounts

Loan amounts range from INR 50,000 to INR 75 Lakhs

Reasons to Apply for a Business Loan for Women

A Business Loan for Women is designed to help women entrepreneurs pursue their business dreams and grow their ventures without facing financial constraints.

Here are several compelling reasons why women entrepreneurs should consider getting a business loan:

  • You can expand your operations   
  • You can diversify across sectors to increase business resilience
  • You can address staffing needs and match growth demands
  • You can use the money to upgrade machinery, software, and equipment for enhanced efficiency
  • With a loan, you can increase your working capital reserves to meet rising output demands
  • With the tailored support of a Business Loan for Women, women entrepreneurs like you can seize the opportunity to fuel your business aspirations and propel growth.

How To Apply For Business Loan For Women?

As a woman entrepreneur, applying for a business loan is a straightforward process with SMFG India Credit. Follow these steps:

  • Apply here to initiate the application.
  • Choose a business loan based on your needs.
  • Input the required details and upload the necessary documents seamlessly.
  • Specify the loan amount and select the desired tenure.
  • Receive an instant decision based on your information.
  • If approved, note the reference number provided for future correspondence.
  • You should expect contact from an SMFG India Credit representative for additional information.
  • Then, you will undergo document verification and address confirmation.
  • Upon verification, you’ll receive a personalized loan offer, including the loan amount and interest rate.
  • After approval, enjoy a hassle-free disbursal of the sanctioned amount to your bank account.

Step Into Success: Fast & Flexible Loans for Women in Business

Today, women-led businesses are redefining success across industries. With access to fast, flexible, and reliable funding, building a thriving enterprise in a competitive market is more achievable than ever. Specially designed business loans for women offer the support needed to grow with confidence – attractive interest rates, collateral-free funding, and flexible repayment tenures. These loans for female business owners are not just financial products but stepping stones to independence and long-term growth.

If you're ready to take your venture to the next level, start your application today and let SMFG India Credit help power your business ambitions.

Want to Take Your Business Further? Find Out How!

With the rustic flair of desi music and subtly infused humour, this video tells a story of a small retailer who was able to grow his small business with a loan. Watch now and enjoy!

Apply Now for Business Loan for Women

Submit your application in minutes!

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Page also available inहिन्दी - Hindi

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

FAQs

Can women get a business loan?

Yes, women in India can get a business loan if they are able to successfully meet the eligibility criteria and documentation required by the lender. Additionally, the lender will also take a look at the applicant’s credit profile, CIBIL score, ITR and company related documents prior to approving the business loan application.

How to get a business loan for women?

You can easily get a business loan for women in India by placing an application with SMFG India Credit which offers dedicated business loans for women for up to Rs 75 Lakhs* at competitive interest rates starting at 17% per annum. The repayment of the loan comes with a flexible tenure of 12 to 60 months.

What is the minimum amount for a business loan for women?

The minimum amount for a business loan for women at SMFG India Credit is Rs 50,000.

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

The documents required for a business loan for women include: 

  • KYC related documents ids, address and age proof – Voter ID, Passport, Driving Licence, Aadhar Card, Pan Card
  • ID proof required for the company – Pan Card
  • Bank statements required for the last 6 months
  • Income documents including the latest ITR for 2 years 
  • Proof of continuation via ITR/ Trade Licence / Establishment / Sales Tax Certificate
  • Other documents that may also be required are a Sole Proprietorship Declaration or a certified copy of the Partnership Deed, a certified true copy of the Memorandum & Articles of Association and the Board Resolution

Do you need a minimum credit score to get a small business loan for women?

To get a small business loan for women from SMFG India Credit, a minimum CIBIL score of 750 is required.

What is the average duration of an SMFG India Credit business loan for women?

The average duration of an SMFG India Credit business loan for women is up to 60 months, providing flexibility in loan repayment.

Can I get an MSME business loan for women if my business is new?

For an MSME business loan for women, the applicant must have been engaged in the business for at least three years and have a total business experience of 5 years to be eligible.

How easy is it to avail of small business loans for women in India?

Availing small business loans for women in India is relatively accessible, especially with the support of financial institutions and initiatives that promote women entrepreneurship.

What is the eligibility criteria for loan for women?

The eligibility criteria for a business loan for women typically include being self-employed professionals, manufacturers, retailers, or traders, aged between 21 to 65 years, with a minimum annual turnover of INR 10 Lakhs, and a business experience of at least three years with five years of overall business experience.

What are some of the problems faced by women entrepreneurs in India?

Women entrepreneurs face the following challenges in India:

1. Despite societal evolution, women still face gender biases in India. They require permission from male relatives to pursue business endeavors, hindering recognition and growth opportunities.

2. Female entrepreneurs confront economic hurdles due to gender gaps in the finance sector. Biases from investors and a lack of business loans for women create obstacles to scaling the business.

3. Dealing with marriage, divorce, property distribution, inheritance laws, and business permissions pose legal challenges for women business owners in the country.

4. Balancing societal expectations of household responsibilities with professional commitments challenges women entrepreneurs. This can lead to an imbalance in work-life balance and affect their overall well-being.

5. There is still a social stigma attached to women running businesses in India. Women entrepreneurs often face criticism and disapproval from society, which can discourage them from pursuing their entrepreneurial dreams.
 

What is the advantage offered by NBFCs for women entrepreneurs?

Non-Banking Financial Companies (NBFCs) in India offer beneficial business loans to women entrepreneurs with attractive interest rates and flexible repayment options. These loans are designed to cater to various business needs, such as working capital, equipment purchases, and infrastructure development. They empower women entrepreneurs to overcome financial obstacles and take their businesses to new heights.

What factors determine my sanctioned loan limit?

Some factors that determine your sanctioned loan limit include your credit score, income, existing debts, and the purpose of the loan. The lender assesses your financial health and creditworthiness to establish a suitable and manageable loan limit.

How much is the processing fee for business loans for women?

At SMFG India Credit, the processing fees for business loans can be Up to 5% of the total loan amount + GST.

Who is eligible to get a business loan for women?

To qualify for a business loan for women from SMFG India Credit, applicants must be Indian citizens aged 22 to 65, possess a minimum CIBIL score of 750, engage in self-employment or business ownership for at least three years, demonstrate profitable operations, and meet specified turnover and income criteria.

What can a business loan be used for?

A business loan can be used for various purposes, such as purchasing equipment, acquiring inventory, buying real estate, acquiring existing businesses, refinancing existing loans for better interest rates, building business credit, and providing working capital for daily operations.

What is the minimum CIBIL score to get a business loan?

At SMFG India Credit, a person is only eligible for a business loan if their CIBIL score is at least 750.

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