How to Apply for Business Loans for Women Entrepreneurs
Published: July 29, 2022
From flying a plane to leading our country, saving thousands of lives to starting a business; women are excelling in every field. Over the last decade, women entrepreneurs and their increasing presence has reshaped the Indian economy. There is a significant rise in the number of women donning the role of entrepreneurs which is very encouraging.
Moreover, with India being the world’s third largest startup ecosystem, there are plenty of growth opportunities for aspiring entrepreneurs. All the market needs is a unique business idea.
Starting a business of your own not only gives you a lucrative income opportunity but also a way to exhibit your abilities and business acumen. However, starting something from scratch and then taking it to the desired level is not easy. It requires a lot more than just enthusiasm; business capital is one of them.
To encourage aspiring women entrepreneurs and assist them in their business initiatives, there are a number of banks and Non-banking financial companies (NBFCs) that offer easy business loans for women entrepreneurs. In fact, there are a number of different loan schemes for women entrepreneurs which one can opt for depending on the requirements and eligibility. Women entrepreneurs can choose from multiple loan schemes offered by banks and NBFCs and can then apply for a business loan to meet their fund requirements.
Hassle-free: With minimum document requirements and quick loan disbursal, arranging working capital for your business is not a challenge anymore.
Higher Loan Limit: There are a number of schemes with varying loan limits. This means that as an entrepreneur, you can avail loan schemes with limits high enough to meet your fund requirement.
Flexibility: Getting a loan approved isn’t a hurdle. The real challenge emerges when you start repaying it. Being a new entrepreneur, there can be times when you do not have the time to deposit the EMIs toward loan repayment. Hence, for your convenience, many financial institutions now provide business loans with flexible repayment and tenure options.
The documents required can vary from one applicant to another, depending on the loan scheme they have applied for. Here is a common list of documents that almost every applicant requires: –
1) Application form
2) Passport Photo of all applicants
3) KYC Documents of all applicants (Identity proof, Address Proof)
4) Age proof of all applicants
5) PAN card copy of all applicants
6) Aadhar card copy of all applicants
1) Application form
2) Passport Photo of all applicants
3) PAN Card copy of all applicants
4) Partnership Deed/MOA/ AOA/HUF Deed for Partnership firms/Ltd Companies/ HUF
5) Registration Certificate for VAT/Sales Tax/ Service Tax/ Excise/GST/ Shop Establishment
6) Latest List of Directors and Share Holding Pattern of Company Certified by CA
How to Apply?
At Capri Loans, we’ve made business loans for ladies super easy. All you have to do is check your eligibility for a particular loan scheme and then submit your application. Here are the steps involved in the loan application procedure for women entrepreneurs:
1) Fill out a simple loan application form.
2) Submit all the required documents.
3) Once that is done, a loan disbursal request will be raised.
4) Once your documents are verified, you will receive the loan sanction letter.
5) And then, the loan amount will be credited to your account.
Put your plan in action and be your own boss while your fund requirements are being taken care of.