Stand Up India Scheme 2023: Interest Rate, Eligibility & Form PDF

Stand Up India Scheme 2023: Interest Rate, Eligibility & Form PDF: A scheme by the Ministry of Finance to provide credit to SC/ST and/or women entrepreneurs by facilitating bank loans for setting up greenfield project enterprises in manufacturing services, trading sector etc. The objective of the scheme is to facilitate bank loans between Rs.1 lakh and Rs.1 crore.

10 lakhs and Rs. 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. This enterprise may be in manufacturing, services or trading sector. In case of non-individual enterprises at least 51% shareholding and controlling stake should be held by SC/ST or women entrepreneur.

Benefits of Stand-Up India

Table of Contents

Facility of joint loan (including term loan and working capital) between ₹10 lakh and ₹100 lakh. A debit card will be issued for the convenience of the borrower.
The web portal by SIDBI provides handholding support through a network of agencies engaged in training, skill development, guidance, project report preparation, application filling, work shed / utility support services, subsidy schemes etc.

Eligibility of Stand-Up India

The applicant should be an entrepreneur.
If the applicant is male, he must be from SC/ST category.
The applicant must be over 18 years old.
Applicant should not be in default with any Bank/Financial Institution.

Also Read : Loan Assistance Scheme 2023 for Small Entrepreneurs of Scheduled Castes to Purchase Business Place/Shop

Stand-Up India Application Process Online

Contact your nearest bank branch to apply (Find your nearest bank here – https://www.rbi.org.in/Scripts/query.aspx )

or through the Lead District Manager (LDM) (Find the address and email of your district LDM here – https://www.standupmitra.in/LDMS

Stand-Up India Process:

The first step is to visit the official portal of Standup India: https://www.standupmitra.in/Login/Register
Enter complete details of business location.
Select the category between SC, ST, Female and whether share is 51% or more.
Select the nature of the proposed business; Loan amount, desired business description, premises details etc.
Populate areas with past business experience, including tenure.
Select the hand-holding requirement.
Enter all the personal details requested, including the name and structure of the enterprise.

Once you complete the registration, you are eligible to start the Standup India loan application process with the concerned financial institution so that the officials can contact you to complete the Standup India loan process and necessary formalities.

Also Read >>> deen dayal upadhyay grameen kaushal yojana 2023

Stand-Up India Required Documents

Identity Proof: Voter’s ID Card/Passport/Driving License/PAN Card/Signature identification from current bankers of Proprietor, Director’s Partner (if any company)
Proof of Residence: Recent Telephone Bill, Electricity Bill, Property Tax Receipt/Passport/Voter ID Card of Owner, Partner of Director (if a company)
Proof of business address
Proof that the applicant is not a defaulter in any bank / financial institution
Memorandum and articles of association of the company / partnership deed of partners etc.
Statement of assets and liabilities of promoters and guarantors along with latest income tax return.
Rent agreement (if business premises on rent) and approval from Pollution Control Board if applicable.
SSI/MSME Registration (if applicable)
Estimated balance sheet for the next two years in case of working capital limit and for the loan period in case of term loan.
Photocopy of lease deed/ title deed of all properties offered as primary and collateral securities.
Documents to establish whether applicant belongs to SC/ST category where applicable.

Also Read : Kisan Credit Card Scheme 2023

For cases with exposure above 25 lakhs:

Profile of the unit (including promoters, names of other directors of the company, addresses of all offices and plants, shareholding pattern etc.
Last three years balance sheet of associate/group companies (if any).
The project report (if term funding is required for the proposed project) includes financial details such as machinery to be procured, from whom it will be procured, cost, names of suppliers, capacity of machines, anticipated utilization capacity, production, sales, etc. Estimated profit and loss and balance sheets for loan tenure, details of labour, recruitment of employees, basis of assumption of such financial details etc.
Manufacturing process if applicable, key profile of executives in the company, any affiliation, details about raw materials used and their suppliers, details about buyers, details about key-competitors and strengths and weaknesses of the company vis-à-vis its competitors etc.