Stree Shakti Package for Women Entrepreneurs
To avail loan under this scheme, women need to be enrolled in the Entrepreneurship Development Programme (EDP) in their respective state agency. They also would need to have majority ownership (over 50 per cent) in a small business. Under the scheme, an interest concession of 0.05 percent can be availed on loans above Rs 2 lakh.
There is a lot of focus on promoting women entrepreneurship in India with the government and financial institutions having various schemes. One such scheme promoted by the State Bank of India (SBI) is Stree Shakti Package for Women Entrepreneurs.
Businesses operated by women entrepreneurs are eligible to receive a loan under Stree Shakti Package. For the purpose of identifying “Women Entrepreneurs” businesses, the definition recommended by the MSME Department of India will be applicable. As per definition, a Women Entrepreneur business is “A small scale industrial unit/industry related service or business enterprise managed by one or more women entrepreneurs in proprietary concerns or in which she/they individually or jointly have a share capital of not less than 51% as partners /shareholders/Directors of Private Limited Company/Members of Co-operative Society.
Thus, women entrepreneurs or women entrepreneur business in retail trade, manufacturing or services are eligible for the scheme. Also, Women professionals like Doctors, Beauticians, Architects and Chartered Accountants can avail loan under the Stree Shakti package.