Hero Fincorp's Business Loan for Women

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 article.

About this scheme…

Business Loan for Women is a collateral free loan offering with instant approval by Hero Fincorp Limited (Hero Fincorp), a non-deposit taking, systemically important Non-Banking Finance Company (NBFC) registered with Reserve Bank of India (RBI), to provide women entrepreneurs with the financial support needed to fuel their startup journey.

How is it being implemented?

Under this Scheme, direct loan is provided to,

Women who are Self-Employed (Architects, Doctors, Company Secretary, Chartered Accountants) or manage a business (Retailers, Traders, Manufacturers, Service Providers)

What’s on offer?

I. Product

Term Loan
Ticket Size: ₹5 Lakhs – ₹50 Lakhs

II. Purpose:

Acquisition of or investment in fixed assets
Working capital requirements

III. Borrower Type:

Sole Proprietorship, Partnership Firm, Limited Liability Partnership (LLP), Private Limited Company, Trust
For more information around this, please contact Hero Fincorp via means mentioned below

IV. Security or Collateral or Guarantee or Insurance

Primary Security: There may be primary charge on assets financed by Hero Fincorp
Collateral Security: Nil
Guarantee: Nil
Insurance: For more information around this, please contact Hero Fincorp via means mentioned below

V. Interest Rate

Ranges from 14% to 30%, depending on the borrower’s profile, loan type, and creditworthiness

VI. Processing Fee

1% + GST

VII. Margin Money Requirement

For more information around this, please contact Hero Fincorp via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure: 1 – 4 years
Repayments: EMIs. For information around flexible repayment schedules, please contact Hero Fincorp via means mentioned below
Pre-payment & Foreclosure Charges: For more information around this, please scroll here and find details under Business Loan Interest Rate, Fees, and Charges

IX. Turnaround Time

Characteristic features of this Scheme include:
- Simplified Application Process
- Instant Loan Approval
For specific information around turnaround time from Approval to Disbursement, please contact Hero Fincorp via means mentioned below

Interested? Read ahead to check your eligibility….

I. Are you between 25 & 65 years of age?

II. Do you hold an Indian citizenship as the time of application?

III. Has your business been in operation for at least 5 years?

IV. Has your business been generating revenue consistently?

V. Do you have a favourable credit score to support your creditworthiness & repayment capability?

If your answers to the questions above are an emphatic YES, you are all set to avail Hero Fincorp’s Business Loan for Women!

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

I. Details around this Scheme are not available in public domain

II. However, as of March 31, 2024, Hero Fincorp had an Unsecured SME loan outstanding of ₹4,676 Crores

So, now, how should you go about it?

I. For submitting application

Please fill the online application form here and upload the documents required
- Enter the Business Loan amount and select repayment tenure
- If you fulfil the eligibility criteria, you will receive a reference number
- A representative will contact you for further details

II. For indicative list of documentation required, please scroll here and find details under Documents Required for Business Loan for Women

III. For any queries, please contact Hero Fincorp via: