Udyogini Scheme for Women Entrepreneurs - Eligibility, Documentation Required, & How to Apply

Karnataka State Women Development Corporation (KSWDC) offers financial assistance to women entrepreneurs. The KSWDC offers a variety of programs and services to help women start and grow with their business finance, they offer low-interest, working capital, equipment, and marketing. If you are a woman entrepreneur in India, the KSWDC has initiated a scheme to assist women in business, udyogini scheme. To learn more about this, read this article until the end!

What is the Udyogini Scheme?

The Udyogini Scheme is a government-funded program that aims to empower women entrepreneurs in India. It provides loans, training, and mentoring to help women start and grow their businesses. The scheme is open to all women, regardless of their age, education, or experience. Loans under the scheme can be availed up to Rs 3,00,000. Women under SC, ST, and physically challenged conditions can get interest-free loans and apply by filling udyogini scheme online form. The Udyogini Scheme is a great opportunity for women who want to start or grow their businesses. It provides the financial assistance and resources you need to succeed in business.

What Are the Qualification Criteria for Getting a Loan Under the Udyogini Scheme?

Here are the Udyogini scheme eligibility criteria:

• Gender:

The Udyogini Scheme is specifically designed to help women entrepreneurs. Therefore, only women are eligible to apply for loans under the scheme.

• Age:

The Udyogini Scheme is open to women of all ages. However, there is an upper age limit of 55 years. This is because the scheme aims to promote entrepreneurship among women who are still in their working years.

• Family annual income:

 The Udyogini Scheme is designed to help women entrepreneurs from low-income families. Therefore, there is an income limit of Rs1,50,000 for the applicant's family.

• Required loan amount:

The Udyogini Scheme provides loans up to Rs 3,00,000. The amount of loan that you can avail will depend on the nature of your business and the amount of funds that you need.

Also, Read: Government Schemes for Women Entrepreneurs in India

• Security:

There is no need for any security against the Udyogini loan. This means that you do not need to provide any collateral, such as a house or a car, in order to get a loan under the scheme.

• Disability and widow status:

There is no annual family income and age limit for disabled or widowed women. This means that disabled and widowed women can avail loans under the Udyogini Scheme, regardless of their family income or age.

If you are a woman who meets the eligibility criteria, apply for the Udyogini Scheme.

Documents required for Udyogini Scheme

The documents required for the Udyogini loan Scheme are shown in the table below:

Note - The above documents required for the Udyogini Scheme and details are basics; the specific documents required may vary depending on the bank or financial institution you are applying to.

What Are the Benefits of the Udyogini Scheme?

The Udyogini Scheme is a valuable initiative that is helping to empower women and improve their lives. It is a model for other countries that are looking to promote women's economic empowerment.

Women empowerment

This government-sponsored initiative aims to empower women by providing them with financial assistance and skill training to start their own businesses. This helps women become financially independent and contribute to the economic development of the country.

Motivation and assistance

The Udyogini Scheme motivates and assists women from backward areas to become entrepreneurs. It provides them with financial assistance, skill training, and other support to help them start and grow their businesses.

Also Check: Top 6 Government Initiatives for Women Entrepreneurs in India

Support for women from poor and illiterate backgrounds

Under this scheme, the government provides support for women from poor and illiterate backgrounds. It helps them to overcome the challenges they face in starting and running a business, such as lack of access to capital and education.

Skill training

The Udyogini Scheme provides skill training that helps women with their businesses. It teaches them the skills they need to run their businesses successfully, such as bookkeeping, marketing, and sales.

Women's Development and Empowerment

It provides women with the opportunity to start their own businesses, which gives them a sense of control over their lives and their futures. It also helps them to break down the barriers that prevent them from participating fully in society.

List of 87 Business Categories supported under the Udyogini Scheme

Here is the table of the 87 business categories supported under the Udyogini Yojana:

How to Apply for a Loan Under the Udyogini Scheme?

Here are the steps on how to apply for a loan under the Udyogini Scheme online:

1. Click here and fill out the application form.

2. Submit the application form and upload the documents.

3. Await the approval of the loan. At Hero FinCorp we will review your application and documents. If your application is approved, you will be issued a loan.

4. Once you have received the loan, you can use it to start your business.

Conclusion

The Udyogini scheme is a great initiative by the Government of India to empower women entrepreneurs. It provides financial assistance and skill training to women who want to start their own businesses. This scheme can help women overcome the obstacles of capital generation and wealth creation. It can also help women make a living by themselves and showcase their abilities to the world. The Udyogini scheme is a win-win for both women and the economy. It helps women become financially independent and contribute to the growth of the economy. The scheme has the potential to transform the lives of millions of women in India. And while applying for it, use our business loan EMI calculator to estimate your repayment. 

FAQ

• Who introduced the Udyogini scheme?

The Udyogini scheme was introduced by the Ministry of Women and Child Development, Government of India. It is an initiative to empower women financially.

• When was the Udyogini scheme established?

The Udyogini scheme was established in 2015 by Women Entrepreneur and Government for the welfare and growth of Indian Women entrepreneurs.

• Is Udyogini an NGO?

No, Udyogini is not an NGO. It is a government-sponsored scheme to help women get financial assistance for their businesses.