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Business Loans for Women

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Status: Active

Classification: Private Sector Scheme

Release Date(s):
23rd July 2022
20th January 2021

Offering: Loan/Credit

Entity Type: NBFC

Reading Time: 5 Mins

Ticket Size: ₹5 Lakhs upto ₹75 Lakhs

Entity Name: Tata Capital Financial Services Limited

#Views: 68

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

 

About the scheme…
Business Loan For Women was launched by Tata Capital Financial Services Limited (TCFSL), a non-deposit accepting Non-Banking Finance Company (NBFC) registered with Reserve Bank of India (RBI), designed specifically to meet the business needs of women entrepreneurs.

 

How is it being implemented?

Under Business Loan For Women offering, direct financial assistance, in the form of loans, is given to

  • Women entrepreneurs
  • Self-employed professionals & non-professionals

 

What’s on offer?
I. Product: 

  • Ticket size from ₹5 Lakhs upto ₹75 Lakhs
  • They customize loan offerings (Term Loans, Cash Credit, Overdraft etc.) to meet the unique needs of different women entrepreneurs
  • For more information, please contact TCFSL’s on phone at 1860 267 6060 or visit their nearest branch

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

III. Borrower Type

  • Sole Proprietorship, Partnership Firm, Private Limited Companies, Closely held Public Limited Companies, Societies, Trusts

IV. Security or Collateral or Guarantee or Insurance

  • Nil security or collateral or guarantee
  • For information on exclusive charge on assets, stock, book debts etc. created out of TCFSL’s finance, please contact them on phone at 1860 267 6060 or visit their nearest branch
  • For information around requirement of insurance, please contact TCFSL’s on phone at 1860 267 6060 or visit their nearest branch

V. Interest Rate

  • Starts at 19%
  • Typically, business loans for women is characterized by lower interest rates. For more information on rate applicable to you vis-à-vis other business loans offered by TCFSL, please contact TCFSL’s on phone at 1860 267 6060 or visit their nearest branch

VI. Processing fee

  • Upto 2.75% + GST
  • Typically, business loans for women is characterized by low processing fee. For more information on rate applicable to you vis-à-vis other business loans offered by TCFSL, please contact TCFSL’s on phone at 1860 267 6060 or visit their nearest branch
  • Additionally, there will be a document processing fee levied from ₹999 to ₹1,999 + GST

VII. Margin money requirement

  • For information around requirement of margin money, please contact TCFSL on phone at 1860 267 6060 or visit their nearest branch

VIII. Tenure

  • From 12 months to 36 months
  • Option to structure EMIs around your specific budget for convenient repayment. For more information, please contact TCFSL’s on phone at 1860 267 6060 or visit their nearest branch
  • Pre-closures are only allowed after first nine months. For foreclosure charges, please scroll through here and here
  • For more information on other charges that may be levied during the course of the loan like penal interest charges, miscellaneous charges; please scroll through here and here

 

Interested? Read ahead to check your eligibility….

I. Are you between the age of 25 to 65 years?

II. Is your CIBIL or credit score 700 or above?

III. Are you the owner of a business that has been profitable for three consecutive financial years?

IV. Does your business’ turnover show an upward trend?

V. Is the Balance Sheet and Profit & Loss accounts of your business audited by a registered Chartered Accountant?

If your answers to the question above is an emphatic YES, you are all set to avail loans under TCFSL’s Business Loan For Women!

 

So…how big is this scheme and what has been done so far?

I. Details for TCFSL’s Business Loan For Women don’t seem to be available in the public domain

 

So, now, how should you go about it?

I. For submitting application and documents:

  • Online, click here
  • Via WhatsApp, click here
  • Via Phone, call on 1860 267 6060, from 9am to 8pm Monday to Saturday OR request a call back
  • Via 24/7 virtual assistant TIA, click on the lady’s image at the right hand bottom corner here
  • Via Branch, click the link to find a branch nearest to you

II. For information on list of documentation, click here

III. For any queries, please contact TCFSL on phone at 1860 267 6060 or visit their nearest branch. Click the link to find a branch nearest to you

 

Go on then…and do spread the word!

 

Sources:

  1. About the Scheme
  2. TCFSL’s Latest Credit Rating Report

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