Stand Up India Scheme Online Apply, Benefits, Objective

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Information about Stand Up India Scheme Online Apply, Objective, Features, Registration Process, Banks Offering Loans under the Scheme.

On 5th April 2016, Stand-Up India Scheme was Initiated.

Stand up India scheme provides loans from 10 lakh rupees to the 1 crore. Stand-up India scheme is started to provide financial support to SC/ST and/or women entrepreneurs.

Objective of Stand up India Scheme

Stand-up India Scheme provides 10 lakhs to 1 crore rupees loans to at least one-woman and one SC or ST per bank branch for setting up of greenfield enterprise (First Time Venture). The motive of this scheme is to motivate females towards entrepreneurship.

Highlights of Stand up India Scheme

Interest RateBank’s MCLR + 3% + Tenor Premium
Age criteria18 Years for SC/ST and Women Entrepreneur
Loans Offered forGreen Field Projects – First time venture
Repayment tenureMaximum seven years with the 18 months of moratorium period
Loan Amount10 Lakh to 1 crore rupees
MarginMaximum 15% can be offered with state/central schemes
Controlling stake / shareholdingIn case of Non individual enterprises 51% share
Repayment Status of Borrower’s Financial Never defaulted to any bank or NBFC
Limit of Working Capital Up to 10 lakh rupees in cash credit limit form

Stand Up India Scheme Eligibility

  • The SC/ST and/or women entrepreneurs above 18 years are eligible.
  • The loans will be provided for the green field project.
  • The SC/ST and/or Women entrepreneur must be holding 51% shareholding or controlling stake in the non-individual enterprises.

Nature of the Stand Up India Scheme

Between the Rs. 10 lakh to Rs. 100 lakh (term loan and working capital)

Features of Stand Up India Scheme

  • Minimum loan amount Rs. 10 lakh.
  • Maximum loan amount Rs. 1 crore.
  • Interest rate (base rate + (MCLR) +3% Tenor Premium).
  • Repayment tenure: – 7 years + 18 months moratorium Time.

Required Documents

  • Applicant passport size photo.
  • Driving license,
  • Pan card,
  • Voter’s id card FOR identity proof.
  • Residence proof includes telephone bills, passport etc.
  • Address proof of business.
  • Partners partnership deed.
  • Rent agreement/lease deeds copies.
  • Association balance sheets of last three years.
  • Promoters and guarantors’ liabilities and assets statement.

Stand Up India Scheme Online Apply

Here, you will get the step by step procedure to do your Online apply for the Stand Up India Scheme: –

  • Go to the www.standupmitra.in.
  • Click of the Register button.
  • Fill the details in the registration form.
  • Fill all the correct details.
  • Choose whether the person belongs to the women category and/or SC/ST Category and holds 51% stake or 51% stakes.
  • Select the nature of business, loan amount, Description and Business Space status.
  • Select the drop-down of first-time entrepreneurs.
  • Provide your past business experience information.
  • After this, select the desired handholding support.
  • Fill the details like name, valid mobile number, email id, enterprise name, user name.
  • Click on Register.
  • Officials will notify regarding Other formalities.

Entrepreneurial Support for 2021-22

  • Total applications: – 162746
  • Total amount: – Rs. 38349.60 crore
  • Sanctioned Applications: – 143210
  • Sanctioned Amount: – Rs. 32143.13 crore
  • Handholding Agencies: – 24613
  • Lenders on-Boarded: – 80
  • Branches Connected: – 136125
  • HHA Requests: – 3039

Bank’s Offering Loan Under this Scheme

  • Indian Bank,
  • Bank of Maharashtra,
  • ICICI Bank,
  • Axis Bank,
  • PNB Bank,
  • UCO Bank,
  • Jammu & Kashmir Bank Ltd,
  • Bank of Baroda,
  • Punjab and Sind Bank,
  • State Bank of India,
  • IDBI Bank,
  • Canara Bank,
  • Bank of India,
  • Indian Overseas Bank,
  • Union Bank of India,
  • Punjab and Sind Bank.

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