Stand-Up India Scheme
The Stand-Up India Scheme, launched on April 5, 2016, is a central government initiative managed by the Ministry of Finance to promote entrepreneurship among Women and Scheduled Castes (SC)/Scheduled Tribes (ST). It facilitates bank loans between ₹10 lakh and ₹1 crore for setting up new "greenfield" enterprises.
Key Features and Benefits:
- Loan Amount: Composite loans (combining term loans and working capital) ranging from ₹10 lakh to ₹100 lakh.
- Target: Every bank branch is mandated to support at least one SC/ST borrower and at least one woman borrower.
- Repayment Tenure: Up to 7 years, with a maximum moratorium (repayment holiday) period of 18 months.
- Interest Rate: The lowest applicable rate of the bank for that category, not to exceed MCLR + 3% + Tenor Premium.
- Rupay Debit Card: Issued for easy withdrawal of working capital up to ₹10 lakh.
Eligibility Criteria:
- Beneficiaries: SC/ST and/or women entrepreneurs above 18 years of age.
- Project Type: Only for Greenfield projects, meaning the first-time venture of the beneficiary in manufacturing, services, trading, or agri-allied sectors.
- Ownership: For non-individual enterprises, at least 51% of the shareholding and controlling stake must be held by an SC/ST or woman entrepreneur.
- Credit History: The borrower must not be in default to any bank or financial institution.
Required Documents:
- Identity & Residence Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
- Category Proof: Caste certificate for SC/ST applicants.
- Business Documents: Project report, proof of business address, and Partnership Deed or Memorandum of Association (if applicable).
- Financial Records: Last three years' balance sheets (for existing group companies), assets and liabilities statement, and latest income tax returns.
How to Apply?
- Online Portal: Register and apply through the Stand-Up Mitra Portal.
- Bank Branches: Visit any Scheduled Commercial Bank branch directly.
