Must-Know Schemes for Women Entrepreneurs in India
There are several government schemes aimed at supporting and promoting women entrepreneurship in India. Here are the key schemes that women entrepreneurs must know about.
Skill Upgradation and Mahila Coir Yojana
It focuses on skill enhancement and creating employment opportunities for women. The scheme provides stipend of ₹1,000 per month per trainee, ₹400 per trainee per month to cover operational training costs, ₹6,000 per month as trainer honorarium and subsidised spinning equipment to women after skill development training.
Mahila Samriddhi Yojana
It is designed for women-owned small business units requiring financial support. The beneficiaries can avail a maximum loan amount of ₹1.25 lakhs with the repayment period of 3 years and a moratorium of 3 months.
Credit Line by NMDFC - Self-Employment Lending Schemes
This scheme offers two credit lines based on family income. The Credit Line-1 is for families with annual earnings up to ₹3 lakh and the Credit Line-2 is for families with annual earnings up to ₹8 lakh.
- Term Loan up to ₹20 lakh under Credit Line-1 and ₹30 lakh under Credit Line-2
- Education Loan up to ₹20 lakh for domestic courses and ₹30 lakh for international courses
- Micro-Finance for Self Help Groups where loan is provided up to ₹1 lakh (Credit Line-1) and ₹1.5 lakh (Credit Line-2)
- Virasat Scheme that offers loans up to ₹10 lakh for working capital and equipment purchases.
Credit Guarantee Scheme for Micro and Small Enterprises
It provides collateral-free credit to new and existing Micro and Small Enterprises (MSEs) engaged in manufacturing or service activities. The loan benefits under this scheme include ₹5 lakh with interest rate of 1%, ₹5 lakh to ₹50 lakh with interest rate of 1.35%, and ₹50 lakh to ₹200 lakh with interest rate of 1.80%.
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