Avail Business Loans For Women In India 2021

Aug 19, 2020

Avail Business Loans For Women In India 2021

In recent years, India has witnessed a paradigm shift as far as the involvement of women in business is involved. Although statistically there is an involvement of only 14% of women entrepreneurs in different business settings as reported by the Economic Times, the number has undoubtedly seen a boost over the last decade. It is quite promising, especially since more women are looking to venture into small businesses, some even from their homes, and embarking on their entrepreneurial journeys.

This increase in the number of women becoming business-owners has further been boosted by the easy availability of capital financing as business loans for women to support their ventures.

Before elaborating further into how to avail financing, let us take a look into some of the home-based business ideas for women that have gained momentum in the economy.

Home Based Business Ideas for Women

Given that the prerequisite of starting any business is to avail the means to finance it, most women look for opportunities that require low initial investment. Following are a few such ideas of business for ladies with low investment that can help them generate ample profit, without having to incur substantial expenditure for infrastructure, inventory, and as such.

  • Catering business

It is one of the first and most convenient business ideas for homemakers looking to venture into their own businesses. Remember Sridevi’s character in English Vinglish? Handling a kitchen is something that a majority of women are familiar with, and thus, one can easily start a home delivery service, a baking shop, take party orders for snacks and sweets, etc. from their homes.

Based on the scale of operations, this venture can be set up with an initial investment of around Rs. 20,000, up to Rs. 1 Lakh. With the easy availability of business loans for housewives, acquiring the capital necessary to start this initiative can be simple.

  • Boutique

Easy to manage and extremely lucrative, a boutique can be the perfect opportunity for women seeking small business ideas with low investment. In recent years, the popularity of boutiques has certainly witnessed a sharp increase, with fashion enthusiasts turning to these small, independently-owned stores for custom apparel designing and stitching.

With plenty of demand, low investment, as well as comparatively lesser working capital requirements, boutiques are the perfect business options for homemakers. 

  • Beauty parlour/salon

With minimal investment in training and purchasing necessary products and equipment, starting a beauty parlour or a salon can be one of the most hassle-free business propositions. One can even start their business on a freelance basis and gradually expand their operations from a fixed location, after gathering a strong clientele. This venture can be funded easily by availing small-ticket business loans for women.

  • Coaching centres

Private tuitions and coaching classes are other home-based business options that already have a high demand in the market and need minimal investment. Women can start this business by offering classes for only one subject, which they are proficient in. Eventually, they can expand the business and hire more teachers to make the classes’ all-subject inclusive.

  • Day-care services

Starting a day-care service is catching up as a lucrative home-based business option. Given that more women nowadays return to work in a couple of years after giving birth, the need for day-care services for kids has increased manifold. It is one home-based option that can be started easily with small-ticket business loans for women at home and does not have much recurring cost of operation as well.

These are five smart business ideas, which can help women to test their entrepreneurial skills effectively from their homes. Apart from these, one can also look into event planning, home-made beauty product manufacturing, etc. as prospective ideas for a small-scale, home-based business.

Now, while none of the above ideas requires a substantial investment, they do have initial expenses like setting-up costs, purchasing necessary equipment or raw material, etc. that need to be taken care of. In this regard, availing business loans for women makes for the most comprehensive option.

But what type of loan should you avail?

A gold loan for business, for instance, can be the most convenient option here!

Why are Gold Loans Perfect for Starting Home Based Businesses?

Since these business options are mostly undertaken by homemakers, without any previous records of availing loans or any credits for that matter, a gold loan makes for the easiest avenue to raise financing. Additionally, this allows women to make use of their gold jewellery as assets, providing them with an easy solution to avail funds.

A gold loan, availed from Rupeek Fintech Pvt. Ltd. can be among the perfect home based business loans for moms and other women because of the following reasons.

  • Secured loan with high LTV (Loan-to-Value)

Availing a loan against gold is convenient since you get access to funds without having to worry about diluting your asset’s equity. Further, you can avail the loan at a high LTV against your gold, and thus acquire necessary finance for your business. LTV or loan to value ratio is the maximum loan amount a lender agrees to provide as a percentage of the pledged asset’s market value. Thus, a high LTV means your increased chances at availing funds of high-value.

  • Hassle-free loan at your doorstep 

Rupeek brings their gold loans right at your doorstep. Thus, when seeking business loans for ladies, you can apply online through the lender’s app or website with ease. A loan manager will then be appointed to visit your home on the scheduled date to conduct the process of gold valuation and KYC registration. The application process is simple and only KYC documents are required, with no additional paperwork like ITR, income document submission, etc., or CIBIL enquiry. 

  • Instant loan disbursal

Once the loan manager completes valuation of the pledged gold, a request for approval is sent, and the loan amount is disbursed to your account. It only takes 30 minutes to complete the entire process, from valuation to loan disbursal.

Further, the loan manager waits at your house until the money is transferred to your account, and leaves with your gold only thereafter. Once complete, the pledged gold is safely transported to be stored in a safety vault of the nearest branch of Rupeek’s partner banks. Any risk of financial loss as a result of pledging the gold is further eliminated through an insurance policy for the duration of your loan.

  • No stringent eligibility criteria

Such gold loans are especially helpful for homemakers since they have simple eligibility terms. One does not need to have a CIBIL score or prior credit history to avail it. The loan is sanctioned purely on the basis of the value of the gold offered as collateral and borrower’s identity verification via KYC registration.

  • Easy repayment terms

With gold business loans for women, you do not have to make EMI payments. You may choose to pay the interest amount each month, across the tenure of 6 months to 1 year (as per your choosing), and make bullet payment at the end of the loan tenure. It considerably reduces the repayment burden and does not necessitate a struggle to gather funds in the initial days of your business.

Plus, if the need be, you can also defer the entire loan liability up to the tenure’s end and repay at a go.

With such benefits and more, a Rupeek gold loan comes off as the best way for women to gather finances for their business. Nonetheless, one should also ensure that they have a definitive plan in place before starting a business to ensure smooth sailing of operations. Apply today and jumpstart your dream business from the convenience of your home.

Apply for

Instant Gold Loan

in 30 Minutes Guaranteed

Please provide a valid phone number


Your Loan Request Successfully

Your request has been received, Our customer relationship manager has Been notified and call you shortly.