Women, these days are excelling in almost all the fields and business is no more an exception. But still, they have to toil and moil to take their business to new heights. With the phenomenal growth of women in the business world and the increase in the number of women entrepreneurs, the financial need for women entrepreneurs also increases day by day. There are several private finances such as RG enterprises that help women entrepreneurs to grow their businesses. RG enterprises do not calculate if the women entrepreneurs are creditworthy just based on the CIBIL score alone. Though they have the ability and enthusiasm to develop their business, they still lack in terms of finance. Providing women entrepreneur loans helps women to chase after their dream thus enabling them to grow their businesses to new heights. They absolutely are collateral-free and require minimal paperwork. You can then utilize this women’s business loan amount in increasing your working capital. Business loan in Chennai for women provided by RG enterprises is considered the best of all the private finances. Here are some of the salient features and benefits of getting small business loans for women.
Hassle – free loan
RG enterprises offer small business loans for women up to Rs. 15 lakhs at an interest rate that is affordable.
Women entrepreneur loan is highly flexible that you can withdraw the loan amount as soon as it is sanctioned and can repay it at your own comfort without involving any additional costs.
Easy disbursement of loan
The loan is processed as fast as possible within 48 hours. Thus, women can have quick access to their working capital.
Requires minimal documentation
Minimal documents are required for applying for a loan in the case of women entrepreneurs.
Low interest rate
Women entrepreneur loans are provided at the best available interest rate. The interest rate is calculated based on the loan amount without any manual intervention. Thus, the loan process is free of any mischief. The interest rate for the loan applied by women entrepreneurs is very low which is 9.8% only.
Assists in business growth
With the business loan obtained, women entrepreneurs can expand their business to a new level.
Collateral – free
The loan is collateral-free and hence does not requires any security deposit.
No hidden cost
Apart from the processing charge involved, no additional cost is charged while applying for a loan.
Eligibility criteria and documents required
The terms and conditions for getting small business loans for women are very simple. The eligibility criteria to avail of women business loan are as follows
- Age should be between 25 years to 65 years
- You should be a resident of India
- Your business should be running for a minimum of 2+ years
- You should have filed ITR for your business for the past year
- KYC of the applicant
Only minimal documents are required for availing women entrepreneur loans. The documents required are limited to the following
- Identity proof – PAN card, Aadhar card, driving license, or any other valid proof
- Address proof – Ration card, utility bills such as gas bill, lease agreement if any or any other
- Business proof for ownership – business registration documents, partnership agreement, and the like
- Financial statements – statement of the past six months from the respective bank
The interest rate is very nominal with no hidden charges involved. The interest rate for women’s business loans starts from 9.8% onwards. The entire fee involves the rate of interest + processing fee + documents processing charge + bounce charge + penal interest.
Even if the women are the sole proprietor of the business, she can still avail of business loans from RG enterprises provided she met the business loan criteria of RG enterprises. As the women’s business loan is completely collateral-free, they need not deposit any amount as a means of security. Avail small business loans for women with RG enterprises and grow your business.