The Annapurna Scheme is applicable for women entrepreneurs running individual business or partnership firms.
The main motive of this scheme is to provide financial aid to female business owners for establishing food catering unit.
This is a composite term loan and you can avail a maximum amount up to INR 50000.
You can repay the loan in 36 monthly installments with a moratorium period of one month.
These business loans for women can also be used as working capital for purchasing utensils, water filters and other kitchen equipment required for food business.
You need a guarantor for securing this type of loan. The interest rate for these loans is applicable as per the prevailing rates. For securing this loan, you need to submit assets as collateral to the bank.