New Delhi, Sep 17 (KNN) WE HUB, which promotes women entrepreneurship, awarded as many as 16 entrepreneurs with loan sanctions between Rs 3 lakh and Rs 2crore.

The initiative was a collaborative effort of WE HUB, MSME-DI and SBI SME for operationalizing funds under Mudra, Startup India and CGTMSE Scheme.

WE HUB has a vision to empower rural and urban women and induce the necessary skillsets for them to become independent.

The call for application for WE HUB’s incubation services witnessed 245 entries. The WE HUB designed an approach with the objective of enabling women to understand MSME schemes.

We-Hub startups that got loans under the MUDRA, Stand up India and CGTMSE Schemes are looking to use the funds to facilitate their expansion plans.

The efforts of We-Hub in facilitating main-stream credit linkages is appreciated by the four startups who got  capital ranging from Rs13.5 lakh to Rs92 lakh from SBI SME and outlined their plan of using this funds.

These four startups have diverse portfolio ranging from food sector to database management.

These women-led startups are part of the 16 startups who were awarded loan sanctions ranging from Rs3 lakh to Rs2crore. The portfolios of the startups are also diverse with many being in the ideation stage to some in the mature stage. The entrepreneurs are in the age group of 28 to 55 years and all of them hail from Telangana.

IT and Industries Minister K T Rama Rao was present there during the handing over of loans to the women entrepreneurs.