Mudra Yojana Scheme For Women
This scheme has been launched by the Govt. of India for individual women wanting to start small new enterprises and businesses like beauty parlors, tailoring units, tuition centres, etc. as well as a group of women wanting to start a venture together. The loan doesn't require any collateral security and can be availed as per 3 schemes:
i. Shishu - loan amount is limited to INR 50,000 and can be availed by those businesses that are in their initial stages.
ii. Kishor - loan amount ranges between INR 50,000 and INR 5 lakhs and can be availed by those who have a well-established enterprise.
iii. Tarun - loan amount is INR 10 lakhs and can be availed by those businesses that are well established, but require further funds for the purpose of expansion
If the loan is granted, a Mudra card will be given to you which functions the same way as a credit card, however the funds available are limited to 10% of the loan amount granted to you.