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Stand-Up India for Financing SC/ST and/or Women Entrepreneurs

Stand Up India Scheme facilitates bank loans between 10 lakh and 1 crore to at least one scheduled caste (SC) or Scheduled Tribe, borrower, and at least one woman per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services, or the trading sector. In the case of non-individual enterprises, either an SC / ST or Woman entrepreneur should hold at least 51 percent of the shareholding and controlling stake.

 

Eligibility

  • SC/ST and/or women entrepreneurs; above 18 years of age.
  • Loans under the scheme are available for only the greenfield project. GreenField signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
  • In the case of non-individual enterprises,51% of the shareholding and controlling stakes should be held by either SC/ST and/or Women Entrepreneur.
  • The borrower should not be in default to any bank or financial institution.

 

Procedure to Apply Online

The scheme, which covers all Scheduled Commercial Banks branches, will be accessed in three possible ways:

  • Directly at a Bank Branch.

 

How to Avail Stand Up India Scheme

  1. Through stand up, India Portal provides information to a potential borrower on various kinds of handholding support from different agencies and also provides a window to get in touch with banks to avail loans
  1. The applicant first clicks to “Register” and answer a few short questions on the Registration page of the portal.
  1. Based on the response, the Applicant would be classified as the “Trainee Borrower” or”Ready Borrower”. The applicant would also be given feedback on his/her eligibility for a stand-up India loan.
  1. A trainee borrower/ready borrower may then chose to register and login through the portal.
  1. Upon logging through the portal, the borrower is taken to a dashboard.

– Authored by Arvind Singh

  Content Developer, StartupMonk

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