Given that 86% of Indian entrepreneurship is constituted by men, the significant difficulty faced by women entrepreneurs arises from gender bias. In the initial rounds of securing business finance, investors are found to be keener to discuss with a male co-founder as opposed to a woman. Various industry reports affirm this fact that more than one-third of businesswomen face such discrimination while raising capital.
Another crucial reason behind such behavior is the significant lack of women investors and mentors in our country. In such a scenario, the perspective of women entrepreneur is not appreciated fully. Interests and shared experiences between women entrepreneurs and women investors can address such an issue.
Moreover, gender roles and social norms also lead to a lack of faith of investors in women entrepreneurs. The dominant mindset that women's work is 'hobby' or 'part-time' does not help the cause either. It is reflected in a series of questions asked by investors on how women entrepreneurs would maintain a work-life balance.
However, business loans for women are set to plug the gap that exists in obtaining funds. These loans are specially designed for women entrepreneurs and offer funds up to Rs.20 lakh. The eligibility of loan for ladies is quite simple –
- Applicant should be between 25 years to 55 years.
- Business vintage should be for a minimum of 3 years.
- ITR must be filed for a minimum of 1 year
This financing option is well suited to meet the unique financial needs of women entrepreneurs. You can also know about Business Loan App in India.