The Stand Up India Scheme offers bank loans between 10 lakh and one crore.
For the establishment of a new business, each bank branch must have at least one woman, one member of a Scheduled Caste (SC), or Scheduled Tribe.
Small Industries Development Bank of India (SIDBI)
The Stand-Up India Scheme offers bank loans from 10 lakh to up to one crore for the borrower who belongs to a scheduled caste (SC) or scheduled tribe and at least one woman to start a new, greenfield enterprise. This company may operate in the manufacturing, service, or trading industries. An SC/ST or female entrepreneur must have at least 51% of the company's equity and a majority interest in non-individual enterprises.
1.SC/ST and/or female entrepreneurs; at least 18 years old.
2.Only greenfield projects are eligible for loans under the programme. In this context, the term "GreenField" refers to the beneficiary's first initiative in the manufacturing, services, or trading sectors.
3.Non-individual businesses require that either SC/ST or women entrepreneurs possess 51% of the stock and the controlling interest.
4. The borrower shouldn't owe any banks or other financial institutions any money.
Procedure To Apply Online
There are three possible ways to access the programme, which applies to every branch of Scheduled Commercial Banks:
1.Directly at a Bank Branch
2.Through SIDBI Stand-Up India Portal (www.standupmitra.in)
3.Through the Lead District Manager
How to Avail Stand Up India Scheme
1.The stand-up India Portal gives potential borrowers information on different types of handholding assistance from various organisations and offers a channel to contact banks to apply for loans.
2.The candidate initially clicks "Register" and responds to a few brief questions on the portal's Registration page.
3.The applicant would be categorised as either the "Trainee Borrower" or the "Ready Borrower" depending on the response. Additionally, feedback on the applicant's suitability for a stand-up India loan will be provided.
4.A potential borrower can then choose to sign up and log in using the portal.
5.The borrower is brought to a dashboard after logging in to the site.