Stand Up India Scheme 🚀

Empowering SC/ST and Women Entrepreneurs

Official .gov.in Source

Quick Facts

Benefit Amount

₹10 Lakh to ₹1 Crore

Who Qualifies

SC/ST & Women Entrepreneurs

Ministry

Ministry of Finance

Eligibility Criteria

  • SC/ST and/or Woman entrepreneur, above 18 years of age.
  • Loans are available for greenfield projects only (first-time venture).
  • Borrower should not be in default to any bank or financial institution.
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Woman entrepreneur.

Benefits of the Scheme

  • Composite Loan: Covers 75% of the project cost including term loan and working capital.
  • Loan Amount: Between ₹10 Lakh and ₹1 Crore.
  • Purpose: For setting up new enterprises in manufacturing, services, or trading sectors.
  • Interest Rate: Lowest applicable rate of the bank for that category (not to exceed MCLR + 3% + Tenor Premium).
  • Repayment: Repayable in 7 years with a moratorium period of 18 months.

How to Apply

  1. Prepare Project Report: Develop a detailed business plan and project report for your new venture.
  2. Visit Stand-Up Mitra Portal: Access the official portal at www.standupmitra.in.
  3. Register and Apply: Register on the portal and fill out the online application form with all required details.
  4. Bank Selection: The portal will guide you to the appropriate bank branch for your application.
  5. Submit Documents: Submit all necessary documents to the bank for verification and loan processing.

Required Documents

  • Identity Proof (Aadhaar Card, Voter ID, PAN Card, Passport)
  • Address Proof (Utility bills, Bank statement)
  • Business Address Proof
  • Caste Certificate (for SC/ST applicants)
  • Proof of Age
  • Bank Account Statements (last 12 months)
  • Business Plan/Project Report
  • Partnership Deed/Memorandum of Association (MOA)/Articles of Association (AOA) (for non-individual entities)
  • Income Tax Returns (for existing businesses, if any)

Official Helpline

For assistance with the Stand Up India Scheme, you can contact the official helpline:

Phone: 1800-11-5565

Frequently Asked Questions (FAQ)

Q: What is the primary objective of the Stand Up India Scheme?

A: The scheme aims to promote entrepreneurship among women and Scheduled Castes/Tribes by facilitating bank loans for setting up greenfield enterprises.

Q: Can an existing business apply for a loan under this scheme?

A: No, the scheme is specifically for greenfield projects, meaning it supports first-time ventures only.

Q: Is there any collateral required for the Stand Up India loan?

A: The scheme provides for credit guarantee through the Credit Guarantee Fund Scheme for Stand-Up India (CGFSI), which may reduce or eliminate the need for traditional collateral.

Q: What is the maximum age limit to apply for the scheme?

A: There is no upper age limit, but applicants must be above 18 years of age.

Disclaimer

MeraHaq is an independent guide for government schemes and is not affiliated with any government body or official organization. All information is sourced from public domains and is intended for general informational purposes only. Please refer to official government websites for the most accurate and up-to-date details.