Stand Up India Scheme | Start Up India Yojana | Stand Up India Loan | Standup India Loan application form | StandUp India Loan application form | Startup india scheme eligibility
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Stand Up India Scheme | स्टैंड अप इंडिया योजना
Prime Minister Narendra Modi has launched the Stand Up India scheme to provide employment opportunities for the scheduled castes, tribes, and women so that they can easily start a new business. Under this Start Up India scheme, the bank provides a loan between 10 lakh to 1 crore.
There will be a facility to take. In non-individual enterprises, a controlling stake in the case of at least 51% and share must be held by either an SC / ST or a female entrepreneur. In non-individual enterprises, a controlling stake in the case of at least 51% and share must be held by either an SC / ST or a female entrepreneur.
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Objectives of Stand Up India Yojana
- The government will provide financial help to the Scheduled Caste people so that they can run their business by taking loans and they can do their business properly by standing on their feet.
- At least one Scheduled Caste or Scheduled Tribe borrower and one woman borrower by each bank branch to set up a new (Greenfield) project for Rs. 10 lakh to Rs. Bank loan is to be provided between 1 crore.
- In the case of non-individual enterprises, 51% shareholding and controlling stake should be with SC / ST or women entrepreneurs.
Benefits of Stand up India Loan Scheme
- Loan benefits of Rs 10 lakh to 1 crore to SC / ST caste and women entrepreneurs.
- Income tax exemption for the first three years upon starting the venture.
- The license process will soon be automated upon filling a small form to apply.
- A fast track road map will be formed and a dedicated website and application will be developed.
- Approval of loans ranging from 10 lakh to 1 crore to start.
Features of Stand up India Yojana
- Interest Rate: (Base Rate + (MCLR) + 3% + Tenor Premium)
- Loan Amount: Minimum Rs. 10 lakh & Maximum up to Rs. 1 crore
- Repayment Tenure: Up to 7 years, including moratorium period of 18 months
Stand-up India Scheme – Interest Rate & Eligibility – 2020
| Interest Rate | Bank’s MCLR + 3% + tenor premium |
| Repayment tenure | Max. 7 years with moratorium period up to 18 months |
| Min. age criteria | 18 years for SC/ST and women entrepreneur |
| Loan amount | Between Rs. 10 lakh and Rs. 1 crore |
| Loans offered for | Only Green Field Projects (first time venture) |
| Shareholding stake | 51% for Non-Individual Enterprises |
| Borrower’s financial repayment status | Never defaulted to any bank or NBFC |
| Margin | Max 25% |
| Working Capital Limit | Up to Rs. 10 lakh in form of Cash Credit limit |
Eligibility for Start Up India Loan Scheme
- SC / ST and / or women entrepreneurs.
- Age should be more than 18 years.
- Assistance under the scheme is available only for new (Greenfield) projects.
- The borrower should not be a defaulter to any bank / financial institution.
Greenfield project means the first-time venture of the beneficiary into the manufacturing or service sector or business sector.
In the case of non-person enterprise, 51% shareholding or controlling stake should be with SC / ST and/or women entrepreneurs.
Required Documents for Stand-up India Scheme Loan
- Aadhar CardPan Card
- Proof of residence
- Proof of business address
- Caste certificate for SC / ST category
- Passport size photo
- Bank account statement
- Statements of promoters/guarantors of assets and liabilities
- Latest income tax return
- Rent agreement
- Clearance certificate from Pollution Control Board if required
- Project report
Steps to register for Stand-up India Scheme
- You need to visit Stand-up India’s official website at ‘https://www.standupmitra.in/Login/Register’
- In the registration form, enter your business location that includes business address, state, district, village, town, city, and pin code.
- Select whether promoter belongs to women category and holds 51% stake or higher and same applicable to SC/ST category.
- Now, select the nature of the business planned, desired loan amount, nature, and description of business activity, the status of space for business.
- Next, select the drop-down of first-time entrepreneurs to mention your past business experience by mentioning business activity, years of experience, and nature of business.
- Now, tick the desired hand holding support, as per the need and interest.
- Next, enter your personal information such as your name, name of the enterprise, user name, mobile number, email, and type of constitution.
- At last, by clicking on the register option, you can apply for the Stand-up India scheme with the respective financial institution and their officials will contact for further formalities.
How to Apply Online Application for Stand-up India Scheme Loan?
- The applicant needs to visit the official website of Stand Up India at https://www.standupmitra.in/.
- After visiting the website, you will get a login page that you need to click.
- Now, enter your user name and password.
- Click on the login tab and you will be logged in.
- After that, you will get an application form that you have to fill.
- After filling the form with all the correct details, the application will be sent directly to the loan department and your selected bank.
How to Apply for Stand-up India Loan Scheme Offline Application?
There are three ways, through which you can apply for the Stand Up India Loan Scheme.
- Online application through a web portal.
- After directly visiting a bank branch.
- Through its leading district manager.
Stand Up India Scheme Contact Details
- National Helpline Toll-Free Number: 18001801111
- For More Details- https://www.standupmitra.in/Home/Downloads
FAQs on Stand-up India Scheme
What is the Stand-Up India scheme?
The government of India has started the Stand-up India scheme to provide financing help to SC/ST and or Women Entrepreneurs with the help of banks across the nation.
What is the difference between Startup India and Stand-Up India?
Startup India is an online entrepreneurship portal that makes people use various tools and resources for their business and create a network for them to promote and grow their business.
Whereas the Stand-Up India scheme offers loans to SC/ST and or women entrepreneurs.
Who is eligible for Stand-Up India?
SC/ST and or women applicants above 18 years of age are eligible for loans under the Stand-up India Scheme.
How can I get loan from Stand Up India?
Directly at the branch.
Through SIDBI’s Stand–Up India portal (www.standupmitra.in) or.
Through the Lead District Manager (LDM)
Is there any subsidy in Stand Up India?
Yes, there is an interest subsidy up to 7% of term loan Maximum limit of 100 lakh per annum, for 5 years for fixed capital investment, Such as building, new plant & machinery, equipment, and other related assets required for the manufacturing of the product.
