Stand Up India -Scheme: How to get Stand Up India business Loan

The Stand Up India is one of the flagship schemes of the Central Government to encourage the SC/ST and women entrepreneurs to start his/her own business.

So, here I am explaining the synopsis of this scheme for your benefit. Hope you will like it.

What is Stand -Up India Scheme?

Stand-Up India scheme facilitates bank loan between Rs.10 Lakhs and Rs.1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe ( ST) borrower and at least one woman borrower per Bank Branch for setting up greenfield enterprises.

This enterprise may be in manufacturing, service or the trading sector. In case of non individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.

Greenfield project means a completely new project .

The eligibility criteria for applying under this scheme is as below:

• SC/ST and/or Woman entrepreneur, above 18 years of age.

• Loan under this scheme is available only for the greenfield project.

•  In case of non individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.

• Borrowers should not be in default to any bank/financial institution.

Nature of Loan- Composite loan (inclusive of Term loan & working capital) between Rs.10 lakhs and up to Rs.100 lakhs.

The maximum loan available to the 25% of the project cost.

Security: The loan may be secured by the collateral security or guarantee of credit guarantee fund scheme for stand up india loan.

The borrower shall be required to bring in minimum of 10% of the project cost as his own contribution.

You can apply for the loan online or directly in a bank branch.

For online application visit the site https://www.standupmitra.in/Login/Register#NoBack.

Here is the list of documents you need to keep ready for applying for this loan.

1. Email ID & Phone Number

2. PAN card & Adhar Card 

3. Firm registration certificate/MSME registration/ GST registration

4. Partnership deed/MoA&A whichever is applicable

5. Project report.

6. CMA Data