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…
KBL Mahila Udyog Scheme was launched by Karnataka Bank Ltd. (KBL) to meet credit requirements of women entrepreneurs for any income generating activity.
How is it being implemented?
Under KBL Mahila Udyog Scheme, direct financial assistance is given to
- Women entrepreneurs
- Women Self Help Groups
What’s on offer?
I. Product:
- Term loans or demand promissory notes (DPN) upto ₹10 Lakhs
- Working capital facility such as overdraft, cash credit etc. upto ₹2 Lakhs
- Total exposure per borrower, across term loans, DPN and/or working capital facility, to not exceed ₹10 Lakhs
II. Purpose:
- Acquisition of fixed assets
- Working capital requirements
III. Borrower Type
- Individuals, Sole Proprietorship, Partnership, Private Limited Company, Public Limited Company
- Women Self Help Groups
IV. Security or Collateral or Guarantee or Insurance
- First charge or hypothecation over assets created out of Bank’s finance
- Coverage under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) wherever permissible
- For more information around requirement of guarantee and insurance, please contact KBL via means mentioned below
V. Interest Rate
- 11% w.e.f. October 1, 2022
VI. Processing fee
- For loans upto ₹5 Lakhs: Nil
- For loans above ₹5 Lakhs: 0.25%
VII. Margin money requirement
- 15 – 30%
- For information around this, please contact KBL via means mentioned below
VIII. Tenure, Repayments & Pre-Closures
- Tenure
- For term loans: upto 120 months including moratorium, if any, of not exceeding 12 months depending on the type of project
- For demand promissory notes: upto 34 months
- For working capital facility: 12 months
- For information around repayment, pre-closures, prepayments, penal charges etc., please contact KBL via means mentioned below
IX. Turnaround Time
- This scheme is characterized by simple processing and quick sanction
- For information around this, please contact KBL via means mentioned below
Interested? Read ahead to check your eligibility….
I. Do you individually or jointly with other women, fully own and manage the business?
OR
In case of Partnerships, Private Limited Company or Public Limited Company, do you have a share of not less than 51%, as partner or shareholder, and control?
If your answers to the questions above are an emphatic YES, you are all set to avail loans under KBL Mahila Udyog Scheme!
So…how big is this scheme and what has been done so far?
I. Details around KBL Mahila Udyog Scheme don’t seem to be available in the public domain
So, now, how should you go about it?
I. For submitting application:
- Visit KBL’s nearest branch. Find one here
II. For information on,
- Application form, please check here
- Indicative list of documentation that would be required, please click here and here
III. For any queries,
- Please contact KBL on,
- Toll free number 1800 425 1444 OR 1800 572 8031
- Call 080 22021500 OR 080 22021507 OR 080 22021508 OR 080 22021509
OR
- Request a call back by filling in information here
OR
- E-mail info@ktkbank.com
OR
- Visit KBL’s nearest branch. Find one here
Go on then…and do spread the word!
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