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Women have always been at the forefront of any new progression. Women entrepreneurship dates back to ancient times. They have continued the tradition and have made a niche for themselves in the modern business world as well. It is important that they receive the right kind of funding at the right time to develop and expand their businesses.
Here are 5 best ways in which women entrepreneurs can get business loans in India
1. Small Business Finance
Small Business Loans or MSME Business Loans are a good option to avail financing for your business.
2. Government Schemes
This is the next best option available for women entrepreneurs. These schemes come with low-interest rates. There are both secured and unsecured loans to suit your needs. The government has introduced a number of schemes that boost women business owners with the required funding. Some of the popular schemes are:
3. Instant Online Business Loans
This loan type has gained popularity in recent times. These business loans are instant loans that are processed based on your credit score. The loan process is completely online and is processed within 24 hours to put the much-needed funds in your hands. Many of them are collateral-free loans. They come with high loan amounts and similarly high-interest rates. But the repayment tenure is short and if you are really good with money management, you can reap good benefits out of these loans. Some of the popular ‘Online Instant Business Loan’ apps are:
4. Loan against Securities & Government Bonds
If you have investments in the stock market, mutual fund or government bonds, you can pledge them in the bank to get a loan. Since these are secured loans, the interest rate is lower compared to other loan types. They also have a quicker turnaround time and flexible repayment option. You can get up to 75% of the pledged securities as the loan amount.
5. Gold Loan
This may sound cliché, but who else is more eligible for a gold loan than Indian women. We do not shy from buying gold jewellery, so why not use it for the betterment of your business? The gold loan market in India is quite huge, supplying around 4 lakh crore rupees into the economy. Gold loans are processed quickly and come with very competitive interest rates in the current market. Borrowers need not worry about monthly repayments as most gold loans have a single repayment at the end of one year, along with the interest amount. You can get up to 90% of the gold value as the loan amount.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.