Standup India Scheme

The objective of the Stand Up India scheme is to facilitate bank loans between `10 lakh and 1 Crore Tribe (ST) borrower to at least one Scheduled Caste (SC) or Scheduled and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services 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

Apply for loan Under Standup India can be done through Startupkaro in Bhilai, Durg, Raipur, Rajanandgaon and all other Chhattisgarh State cities.

Startupkaro – We are the group of professionals having expertise project finance  and always keen to help entrepreneurs in decision making and skill analyzing as regards business funding.

Features of Standup India Scheme

Nature of loan – The loan provided under this scheme is a composite loan which includes a term loan and the working capital.

Availability of Scheme – This scheme will be provided by all Scheduled commercial bank branches and can be accessed either directly at the bank branch, via SIDBI’s Stand Up India portal or via the Lead District Manager.

Quantum of loan – The loans provided under this scheme will range between the amounts of Rs 10 lakh and up to Rs 1 crore. the composite loan amount will cover 75% of the cost of the project. This includes the amount of working capital and the term loan. However, the condition that the loan shall cover 75% of the cost of the project will not be applicable in case the contribution of the borrower, along with financial support being provided from any other scheme amounts to more than 25% of the overall cost of the project.

Purpose of loan – The loan will be provided to any woman, SC or ST entrepreneur who is undertaking a venture for the first time under the services, trading or manufacturing sector.

Rate of Interest – The Stand Up India scheme interest rate shall be the lowest interest rates which are offered by the bank for the particular category. The interest rate however must not exceed the Tenor premium + 3% + MCLR.

Security for loan – In addition to primary security, the loan may require the applicant to provide collateral security or a guarantee of CGFSIL (Credit Guarantee Fund Scheme for Stand Up India Loans), as is required by the bank.

Repayment of loan – The maximum tenure allowed for repayment of loans taken under this scheme is 7 years, along with a moratorium period of 18 months.

Working Capital – For the purpose of drawing working capital up to an amount of Rs 10 lakh, the funds will be sanctioned in the form of overdrafts. A RuPay debit card can also be issued to the borrower for added convenience of withdrawing funds easily. If the working capital required is above Rs. 10 lakh, the same will be provided by cash credit limit.

Margin Money – While this scheme operates under the assumption that 25% of the margin money for the project will be provided by other state/central government schemes which provide subsidies, the loan applicant is expected to contribute a minimum of 10% of the cost of the project from their own funds.

Eligibility for Standup India

  • The individual must be above 18 years of age.
  • The entrepreneur must either be a woman or belong to the SC or ST community.
  • The loan applicant must not be an existing defaulter to any bank or financial organization.
  • Loans will be provided under this scheme only for funding green field projects, which implies that the venture is the very first one ever being undertaken by the applicant under the trade, services or manufacturing sector.
  • If the loan is being taken for a non-individual enterprise, then it is compulsory that a minimum of 51% of the shareholding / controlling stake be held by a woman, SC or ST entrepreneur.

Pricing

*
Basic Plan
999/-

Filing Application through online portal

(Inclusive of all government fee and taxes)

*
Standard Plan
1499 /-

Filing Application through online portal and Udyog Adhar Registration

(Inclusive of all government fee and taxes)

***
Premium Plan
6499 /-

Filing Application through online portal, Udyog Adhar Registration, Project Report (Project cost up to 5 Lacs)

(Inclusive of all government fee and taxes)

Why Choose Startupkaro

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