stand-up-india-scheme

Objectives of the scheme: 

  • The objective of the Stand-Up India scheme is to facilitate bank loans between  10 lakh and  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 a greenfield enterprise.

 

Salient features of the scheme

  • The  enterprise may be in manufacturing, services or the trading sector.
  • For setting up a new enterprise in the manufacturing, trading or services sector by SC/ST/Women entrepreneur.
  • Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) as decided by the banks.

Eligibility : 

  • SC/ST and/or woman entrepreneurs, above 18 years of age.
  • Loans under the scheme are available for only green field projects
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
  • Borrower should not be in default to any bank/financial institution