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…
Loan for Women Entrepreneur Scheme is an online end to end credit facilitation offering by Indifi Technologies Pvt. Ltd. (Indifi) to encourage women entrepreneurs take advantage of their unbiased loan approval process, that is purely based on a borrower’s entrepreneurial expertise, as a result of adopting big data and business analytics technologies for credit assessment.
How is it being implemented?
Under Loan for Women Entrepreneur Scheme, end to end credit facilitation assistance, is given to
- Women entrepreneurs engaged in manufacturing, service, trading and retail. Furthermore, there are custom loans for travel agents, hotels, restaurants, retailers and ecommerce businesses
Indifi’s technology platform gathers and analyses data of businesses from various sources and draws insights to judge their credit worthiness, their past and current performance in context of the industry they are operating in. Then the relevant applications are identified, which are low on risk and high on promise, and are taken to multiple partner lenders (Banks & NBFCs) including their in-house NBFC Riviera Investors Private Ltd. You may make a note of Indifi’s multiple partner lenders by scrolling down here.
What’s on offer?
I. Product:
- Term loans
- Working capital facility like line of credit, overdraft
- Invoice financing
- Merchant cash advance
- Ticket size from ₹50,000 upto ₹1 Crores
II. Purpose:
- Acquisition of fixed assets
- Working capital requirements
III. Borrower Type
- Individuals (22 years and above), Sole Proprietorship, Partnership, Limited Liability Partnerships (LLP), Limited Liability Company (LLC), Private Limited Company, Public Limited Company
IV. Security or Collateral or Guarantee or Insurance
- Primary security: For information around requirement of first charge on assets created out of loan, please contact Indifi via means mentioned below
- Collateral security: Nil
- Guarantor: Nil
- For information around requirement of insurance, please contact Indifi via means mentioned below
V. Interest Rate
- Starting from 1.5% per month
- Typically ranges between 15 – 24%
VI. Processing fee
- 2%
- No other hidden cost
VII. Margin money requirement
- For information around this, please contact Indifi via means mentioned below
VIII. Tenure, Repayments & Pre-Closures
- Flexible repayment tenure upto 36 months
- For information on charges on pre-payment, fore closure etc., please contact Indifi via means mentioned below
IX. Turnaround Time
- Given that the loan application process is online and fast & easy, a loan approval can be expected in 24 – 48 hours
- For information around time taken post approval till disbursement, please contact Indifi via means mentioned below
Interested? Read ahead to check your eligibility….
I. Does your business have a successful operational history of at least 1 year?
II. Has the Income Tax Returns (ITR) filed for your business been for turnover of ₹10 Lakhs and above for at least 1 year?
III. Is the Promoter(s) age 22 years and above?
f your answers to the questions above are an emphatic YES, you are all set to avail loan under Indifi’s Loan for Women Entreprenuer Scheme!
For information on any additional eligibility criteria that may be applicable depending on the type of loan (term loan, OD, line of credit, invoice discounting, merchant cash advance), please contact Indifi via means mentioned below.
So…how big is this scheme and what has been done so far?
I. Of the 50,000 loans worth ₹2,800 Crores that Indifi has disbursed till date to underserved MSMEs, around 10,000 loans have been to women entrepreneurs. Of these 10,000 loans to women led businesses, 25% were to first time borrowers and 25% to businesses from tier 2,3 & 4 cities
So, now, how should you go about it?
I. For submitting application:
II. For information on,
- Indicative list of documentation that will be required, please check here
III. For any queries,
- Please call on +91-9696555444 OR 7827122122 Monday to Friday 10 am to 7pm excluding public holidays. Please keep your Application ID/ Loan ID/ Registered Mobile Number handy for quick response
OR
- E-mail easyloan@indifi.com
OR
- Send them a query online here
Go on then…and do spread the word!
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