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 updating, 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..
Baroda Mahila Swavalamban Scheme, launched recently in December 2024, is a semi unsecured loan offering by Bank of Baroda (BOB) which is a tailor-made financial solution for women-led enterprises.
How is it being implemented?
Under this Scheme, direct financial assistance in the form of loans is given exclusively to,
- Women entrepreneurs
What’s on offer?
I. Product
- Term loan, Working capital facility
- Higher working capital limits will be offered to those borrowers whose digital sales exceeds 25% of the total or assessed turnover
- Ticket Size: ₹20 Lakhs – ₹7.5 Crores
- Additionally, a Free QR Code for B2C businesses will also be offered
II. Purpose:
- Acquisiton of or investment in fixed assets
- Working capital requirements
III. Borrower Type:
- Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, Public Limited
IV. Security or Collateral or Guarantee or Insurance
- Security: Primary charge on assets created out of BOB’s finance
- Collateral
- For loans upto ₹5 Crores: Nil if the loan can be secured under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme.
- For loans above ₹5 Crores: Hybrid collateral coverage scheme may be applicable. For more information around this, please contact BOB via means mentioned below
- Guarantee: Nil
- Insurance: For more information around this, please contact BOB via means mentioned below
V. Interest Rate
- Linked to Bank’s Repo Linked Lending Rate (BRLLR)
- Interest rates applicable under this Scheme are concessional and start at 9.15% per anum onwards
- For more information around this, please contact BOB via means mentioned below
VI. Processing Fee
- 50% rebate applicable under this Scheme
- Post this rebate may range between 0% to 0.6%
- Refer to rack rates of processing fee under Advances (MSME) Tab here
VII. Margin Money Requirement
- Reduced margin requirement for capex loans applicable under this Scheme
- 20% margin on loans for purchase of new machinery
- For more information around this, please contact BOB via means mentioned below
VIII. Tenure, Repayments & Pre-Closures
- Tenure
- Term loan: upto 10 years
- Working capital facility: For more information around this, please contact BOB via means mentioned below
- Repayments: EMIs
- Pre-payment & Foreclosure Charges: For more information around this, please refer to details under Penal Charges Guidelines here
IX. Turnaround Time
- For more information around this, please contact BOB via means mentioned below
Interested? Read ahead to check your eligibility….
I. Is your business registered under GST?
II. Does your business have an Udyam Registration Number?
III.
- Do you fully own & managed your business?
OR
- Are majority of the Partners/Shareholders women holding share capital of at least 51%?
If your answers to the questions above are an emphatic YES, you are all set to avail loan under under Baroda Mahila Swavalamban Scheme!
So…how big is this scheme and what has been done so far?
I. As this is a recently launched Scheme, details around this don’t seem to be available in the public domain
So, now, how should you go about it?
I. For submitting application:
OR
II. For information on application form and documentation requirements, please refer to MSME Credit Facility – Application Form here
III. For any queries, please contact BOB via
- Toll Free Number: 1800 5700 | 1800 5000
OR
- Tel:+91 79-66296009
OR
OR
Go on then…and do spread the word!
Â
Sources:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
