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Women Entrepreneur Loan Scheme

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Status: Active

Classification: Public Sector Scheme

Release Date(s):
21st January 2023
1st July 2021

Offering: Loan/Credit

Entity Type: Co-operative Bank

Reading Time: 5 Mins

Ticket Size: ₹5 Lakhs up to ₹50 Lakhs

Entity Name: SVC Co-operative Bank Ltd.

#Views: 71

Disclaimer…
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 endeavour 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…

Women Entrepreneur Loan Scheme was launched by SVC Co-operative Bank Ltd. (SVC Bank) to meet the credit needs of women entrepreneurs.

SVC Bank is one of the oldest and India’s only multi-state Scheduled Urban Co-operative Bank with a presence across 11 states – Andhra Pradesh, Goa, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, New Delhi, Rajasthan, Tamil Nadu and Telangana.

 

How is it being implemented?

  • Under Women Entrepreneur Loan Scheme, direct financial assistance, in the form of loans, is given to
    Women entrepreneurs

 

What’s on offer?
I. Product:

  • Term loans
  • Working capital facility: Cash Credit and Overdraft Ticket size from ₹5 Lakhs up to ₹50 Lakhs

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

III. Borrower Type:

  • Individuals, Proprietary Firm, Registered Partnership Firm, Limited Liability Partnerships (LLPs), Private Limited Companies, Public Limited Companies

IV. Security or Collateral or Guarantee or Insurance

  • Primary Security:
    • Term loans or Overdraft: Equitable or Registered Mortgage of property preferably owned by the applicant or partners or promoters or their family members
    • Cash Credit: Hypothecation of stock and book debts
  • Collateral Security:
    • Term loans or Overdraft: Nil. However, personal guarantee of property owners required
    • Cash Credit: Minimum 50% of the limit. Additionally, personal guarantee of property owners required
  • Guarantee: requirement of 2 guarantor
  • Membership: Borrower(s) to become regular member(s) by way of share linkage. Guarantor(s) to become nominal member(s). For information around this, please contact SVC Bank via means mentioned below
  • For information around the requirement of insurance, please contact SVC Bank via means mentioned below

V. Interest Rate

  • As applicable from time to time
  • For more information around the interest rates, please contact SVC Bank via means mentioned below

VI. Processing Fee

  • For latest information regarding the processing fees and other charges, please contact SVC Bank via means mentioned below

VII. Margin Money Requirement

  • Term loans or Overdraft: 25% of the agreement value or market value of the property offered as the primary security
  • Cash Credit: 25% against stock (net of creditors) and book debts (up to 90 days)

VIII. Tenure, Repayments & Pre-Closures

  • Term loans: Up to 60 months reviewed annually
  • Cash Credit or Overdraft: limits reviewed annually
  • For information around repayments, pre-closures, related charges etc., please contact SVC Bank via means mentioned below

IX. Turnaround Time

  • For information around turnaround time, please contact SVC Bank via the means mentioned below

 

Interested? Read ahead to check your eligibility….
I. Is the business controlled or managed or run by women?
II. Has the business been in operations for at least 3 years?
III. Has the business been profitable for the last 2 years?
IV. Is the premises, where business is carried out, owned by the applicant borrower or family members?
V. Is the area of the proponent’s or borrower’s operations within a radius of 5km from the branch?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under Women Entrepreneur Loan Scheme!

So…how big is this scheme and what has been done so far? Details for SVC Bank’s Women Entrepreneur Loan don’t seem to be available in the public domain

 

So, now, how should you go about it?
I. For submitting application and documents:

II. For information on the indicative loan application form and list of documentation required to be submitted, please click here and here. For information on indicative loan application form for trading units, please refer here

III. For any queries,
Please contact SVC Bank on phone 24/7 on 1800 313 2120
OR
Fill in an enquiry form here and an SVC Bank representative will get in touch with you
OR
Visit their nearest branch

 

Go on then…and do spread the word!

 

Sources:

  1. Primary Research
  2. About the Scheme
  3. SVC Bank’s Latest Annual Report
  4. SVC Bank’s Latest News Article 1: SVC Bank Receives Award By Amit Shah For 100+ Years Of Dedicated Service
  5. SVC Bank’s Latest News Article 2: SIDBI partners with SVC Bank for empowering MSMEs

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