Are there any ways to get a loan or grant for young women starting a small business with no credit? - Letsdiskuss
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Aditya Sehgal

Blogger | Posted 21 Oct, 2019 |

Are there any ways to get a loan or grant for young women starting a small business with no credit?

leo jack

finance | Posted 23 Oct, 2019

You can apply for personal loans. There are many online portals are available to provide loans with no credit, Lead generators will check whether your financial status is good or not, your transactions of an active bank account and  Eligibility criteria like age(must be 21 yrs & above), Permanent Residential Proof,  Income Proof.

Need to provide the documents like ID Proof, Income Proof, Residential Address, Latest Bank statements to lead generators from your side to get the personal loan approval in a short time.

Aditya Sehgal

Blogger | Posted 21 Oct, 2019

There are several methods of availing business loans for women which they can use to start a small business. With financial institutions offering loan schemes under the PMMY (Pradhan Mantri MUDRA Yojana) scheme, budding women entrepreneurs get the advantage of availing collateral free loans.

Ranging in between Rs. 50,000 and Rs. 10 Lakh, there are 3 broad schemes which can be availed under the MUDRA Yojana.

Shishu: Under this category, women can avail a loan amount of up to Rs. 50,000. They need to fulfil simple eligibility criteria and submit a few basic documents.

Kishor: Ranging from Rs. 50,000 to Rs. 5 Lakh, this requires applicants to project expected business revenues, along with a detailed explanation of the business plan. It also requires past revenue statements and tax details.

Tarun: This business loan for women ranges between Rs. 5 Lakh and Rs. 10 Lakh. Along with all the requirements of the Kishor loan scheme, this category additionally requires authentication with SC, ST or OBC certificates as applicable along with general government issued identification details.

Alternatively, you can also avail affordable business loans for women from renowned NBFCs at attractive interest rates and multiple repayment-friendly features.