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Small Business Loan for Women Entrepreneurs

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Status: Active

Classification: Private Sector Scheme

Release Date(s):
29th January 2022

Offering: Loan/Credit

Entity Type: NBFC

Reading Time: 4 Mins

Ticket Size: ₹1 – 7.5 Lakhs

Entity Name: Jay Finlease Limited

#Views: 49

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 this scheme…

Small Business Loan for Women Entrepreneurs was launched by Blue Jay Finlease Limited, an RBI registered non-deposit accepting NBFC that operates under the tradename ZipLoan, with the aim of empowering women entrepreneurs grow their businesses.

 

How is it being implemented?

Under Small Business Loan for Women Entrepreneurs, direct financial assistance in the form of loans is given to

  • Women owned small businesses

Either by ZipLoan themselves or along with a Co-Lending Partner (a Bank or NBFC).

Currently, ZipLoan serves customers across 5 key markets: Delhi, Indore, Lucknow, Jaipur and Mumbai. Click here to check if ZipLoan covers your city.

What’s on offer?

I. Product

  • Term loans
  • Ticket size: ₹1 – 7.5 Lakhs

II. Purpose:

  • Acquisition of machinery, equipment
  • Office renovation
  • Working capital requirements

III. Borrower Type:

  • Sole Proprietorship, Partnerships, Limited Liability Partnerships (LLP), One Person Company, Private Limited Company

IV. Security or collateral or Guarantee or Insurance

  • Primary Security: Hypothecation of assets financed by ZipLoan
  • Collateral: Nil
  • Guarantee: Nil
  • For information around insurance, please contact ZipLoan via means mentioned below

V. Interest Rate

  • 1% to 1.5% per month flat interest rate
  • For concessions on the said interest rate applicable for women entrepreneurs, please contact ZipLoan via means mentioned below

VI. Processing Fee

  • 1% – 2%

VII. Margin Money Requirement

  • For information on margin money requirement, please contact ZipLoan via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

  • Tenure: upto 36 months
  • Pre-closure charges: nil after first 6 EMIs have been paid
  • For information on repayments, pre-closures, please contact ZipLoan via means mentioned below

IX. Turnaround Time

  • Loans are disbursed within 3 days after business loan approval and signing of contract

 

Interested? Read ahead to check your eligibility….

I. Is your business an established MSME with a proved business vintage of more than 2 years?

II. Has your business’ minimum annual turnover in the previous year been ₹10 Lakhs?

III. Has your business’ income tax filing in the previous year been more than ₹1.5 Lakhs?

IV. Your business has never had any default history?

V. Do you either own a house or your business place?

VI. Does your business operate in one of ZipLoan’s serviceable cities and 70+ serviceable sectors? For more details, check here or here

Note: Online eligibility check is only allowed once per mobile number. Hence, it’s important to choose and enter correct details about your business.

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

 

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

I. Details around Ziploan’s Small Business Loan for Women Entrepreneurs don’t seem to be available in public domain

 

So, now, how should you go about it?

I. For checking eligibility & submitting application:

II. For information on list of documentation required to be uploaded online, scroll here or scroll here

III. For any queries, please contact ZipLoan:

 

Go on then…and do spread the word!

 

Sources:

  1. About the Scheme
  2. About ZipLoan
  3. FAQs on availing loan from ZipLoan
  4. ZipLoan’s Interest Rates
  5. ZipLoans’s Latest Credit Rating
  6. Latest News on ZipLoan: Financial services platform StrideOne, MSME lender ZipLoan join hands for strategic partnership

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