Woman entrepreneurs in India can apply for working capital with zero processing fees, with a short turnaround time of two days for loan approval
Capital Float, a digital lending platform in India, has launched a new programme specifically targeted at women entrepreneurs, in a bid to encourage and drive women entrepreneurship initiatives across India.
The programme is currently active and is scheduled to run from 8th of March to the 31st of March.
As a part of this initiative, woman entrepreneurs can apply for collateral-free working capital with zero processing fees, with a short turnaround time of two days for loan approval. The interest rate for borrowing across its products is 16 per cent.
Gaurav Hinduja, Co-founder, Capital Float, said, “This initiative by Capital Float is an effort to encourage woman entrepreneurs to leapfrog to new ways of funding ideas and add its bit to enabling India to transform into a woman friendly business environment.”
According to a Nasscom study of last year, only nine per cent of India’s 4,200-plus startups have been founded by women. A 50 per cent jump over the number of women entrepreneurs was recorded in comparison to the year before.
At a a time when SMEs are being hailed as the future of India, it is essential to bridge the gap in the market with innovative and flexible offerings. Capital Float aims to provide alternate solutions to the financial qualms of the SME and startup sector by offering access to credit and collateral-free working capital.
Founded in 2013, Capital Float is a leading digital financing platform that provides quick and easy capital to help businesses fund rapid growth and achieve their next milestone. Earlier in 2015, Capital Float raised Series A funding from Sequoia Capital, SAIF Partners and Aspada bringing the total investment raised till then to US$13 million.
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