How to finance your Sanitary napkin Business?
Saral Designs
Leading manufacturing, product design and technology solutions for better health & hygiene
There are millions of women who do not have access to high-quality and affordable sanitary napkins. Research states that approximately 300 Million women rely on old rags, plastic, or ash to manage their menstrual cycle?s. This gap needs to be filled and it can be filled by entrepreneurs who are willing to set up their own Micro/Mid-sized Sanitary Napkin businesses and non-profit organizations that work on menstrual hygiene awareness to solve for 4As: Accessibility, Affordability, Awareness, and Advocacy.
With growing awareness about menstrual hygiene, the Indian market for sanitary napkins has doubled every 5 years since the year 2005
We, at Saral Designs, have interacted with many aspiring entrepreneurs who are keen to set up their sanitary napkin manufacturing business and understand the financial constraints and risks that entrepreneurs face while deciding to get into a new venture.
With the aim to make information more?open source, we have started our?“How to”?blog series. Our first blog in the series was?“How to start?your own sanitary napkin business” which had a great response and many wanted to learn more about loan schemes and subsidies available to start a sanitary napkin business. Hence, we have curated a small list of loans that will aid your decision-making process with our?“How to finance?your sanitary napkin business”
Some Loan Schemes that are available are:
1. Mudra Loan
About this scheme:
MUDRA is a refinancing institution. This means that it will not provide the loan directly to the MSME owner but via a Financial Institution, NBFC, MFI, etc. Mudra loans can be availed from any nearby branch office of the above-mentioned entities. You can also file an online application on the Udyamimitra portal.
What’s on offer?
Amount: Loan up to Rs 10 Lakh
Eligibility: Any Indian national can avail of this loan
Check out the details?here
2.?Stand-up India
About this scheme:
Stand up India Scheme has an objective to facilitate bank loans for setting up a new enterprise in manufacturing, service, or trading. The primary benefit of this scheme is that it provides a fair chance to scheduled caste, scheduled tribe, and for women too.
What’s on offer?
Amount: Composite Loan from Rs. 10 lakh up to Rs 100 Lakh
Eligibility: SC/ST and/or Women Entrepreneurs, Above the age of 18 years
Check out the details?here
3.?IOB SME Mahila Plus Scheme
About this scheme:
This Scheme was launched by Indian Overseas Bank as a part of the Bank’s initiatives to encourage and inspire women who desire to start a business of their own, become self-employed, and build entrepreneurship traits among them.
What’s on offer?
Amount: Composite Loan up to Rs 200 lakh for a manufacturing enterprise
Eligibility:
Check out the details?here
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4.?SIDBI Make In India Soft Loan Fund For Micro Small And Medium Enterprises (Smile)
?About this scheme:
This government loan scheme aims to take forward the Government of India’s ‘Make in India’ campaign by helping micro, small and medium enterprises with a loan from the Small Industry Development Bank of India.
The main objective of this loan is for it to be favorable for the entrepreneur/ borrower to meet the debt-equity ratio of any entity hence the loan is called a Soft loan with a longer repayment period and lesser rate of interest.
What’s on offer?
Amount: Soft Loan up to Rs 25 lakh
Eligibility: Can be availed by both- New and Existing entrepreneurs
Check out the details?here
5.?Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE)
?About this scheme:
This is an unsecured loan provided by the Government of India where you do not have to offer any collateral property/asset etc.
What’s on offer?
Amount: Working capital loan up to Rs 200 lakh
Eligibility:·
Check out the details?here
6.?Business Loans in 59 Minutes for Micro, Small and Medium Enterprises (MSME)
About this scheme:
This government scheme for small businesses in India gives approval or denies the loan within 59 minutes and the loan is disbursed in 7-8 days if it is approved. The borrower is given the flexibility to choose the lender
What’s on offer?
Amount: Business loan up to Rs 500 lakh
Eligibility: Only for Existing small business
Check out the details?here
With all these details, we hope that you are better equipped to start your own Sanitary Napkin Business!
Disclaimer:?The schemes and benefits listed above may change their terms and conditions, thus, it is best to check the respective web links for the latest and most accurate information about the loan schemes. Saral Designs shall not be liable for any inaccuracy or change in the information on these schemes.
Sr. Product Manager at Amazon | Social Media Influencer
2 年Such a well written blog :D Very insightful. Thanks for sharing!