To address the funding challenges of women micro-entrepreneurs Aye has now added Shakti Loans to its product suite. Shakti Loan is a collateral free credit product designed specifically for women-led businesses in the manufacturing, trading, services, and job work sectors.

Women-led micro businesses make significant contributions to the economic metrics of our country, but their potential remains largely untapped due to the systemic barriers they face. Women owning micro enterprises widely point to the lack of access to capital as the biggest constraint in running and growing their businesses. Shakti Loan solves these challenges and ensures adequate capital is available to help unlock the tremendous growth potential of women’s grassroots businesses.

Features and Benefits
Amount:         Max. loan amount –  INR 200,000
Tenor:             6 months to 24 months

You should be an Indian citizen in the age group of 21- 59 years
Business stability of minimum 2-3 years
Permanence of business location: 2- 3 years depending on the type of business

Fees and Charges
Processing Fees – 2.5% + GST.
Bounce Charges – Rs 500 (inclusive of taxes)
Late Payment Charges – Rs 200 per month (inclusive of taxes)
Foreclosure Charges – As applicable.