Nowadays, many women are starting their businesses in India using a business loan. As a result, many NBFCs are offering business loans for women.

A business loan helps women entrepreneurs to recruit staff, expand business operations, and perform several other business-related activities. But it’s crucial to understand all the conditions of lenders before applying for a business loan for women. Fullerton India is among the top lending institution offering business loans for women with simple eligibility criteria.

Key features:

• Loan amounts of up to Rs. 50 lakhs.
• Competitive business loan rates
• Insurance cover on loan.
• No collateral requirement.
• Flexible repayment tenure of up to 48 months.

Eligibility criteria:

To be eligible for a business loan for women, the applicant should fulfil the following criteria:

• Have citizenship of India.
• Be 22 years at the time of application and below 65 years at the time of loan maturity.
• Have at least a 750 CIBIL score.
• Must be self-employed, a business owner, or a private limited company owner.
• Must have worked for the company for at least three years and have a minimum of five years of business experience.
• Businesses must have a two-year profit history and a turnover of Rs. 10 lakhs.
• Businesses must have an ITR of no less than Rs. 2 lakhs

Conclusion

With a business loan for women, you can start or expand your business without hassle. You can apply online for instant approvals and quick disbursals.

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