Stand Up India Loan Scheme

The Government of India has launched a Stand Up India Loan Scheme.Stand-Up India Scheme provides funding to women entrepreneurs and people who come under the SC/ST category of the society. Stand-up India scheme was introduced by the Government of India to provide credit services majorly to SC/ST category people. The primary purpose of this scheme is to help banks in offering loans between Rs. 10 lakh and Rs. 1 crore to at least one SC/ST applicant and one woman entrepreneur per bank branch in enabling them to set up their own business or enterprise.

This enterprise can be a manufacturing, service, Agri allied activity, or trading sector. If the enterprise is nonindividual then at least 51% of the shareholding and controlling stake is required to be held by SC/ST or women entrepreneurs.

This scheme has been launched in order to facilitate SC/ST and women entrepreneurs in setting up enterprises, obtaining loans, and providing other support which is needed from time to time. Under this scheme, all the branches of scheduled commercial banks will be covered directly at the branch or through SIDBI stand-up India portal through the lead district manager.

Stand up India Loan Apply online

Features of Stand-up India Scheme:- Interest rate will be set by the desired bank. A minimum age criterion is 18 years for both SC and ST categories of the society. This loan is applicable for individuals venturing into the trading and manufacturing industry only. The candidate who is applying for the loan scheme should not be a defaulter from any of the commercial banks. He should have a clean history.

Loans can be utilized for SC and ST category and the repayment time is 7 years maximum along with the moratorium period of 18 months. There is no subsidy in this scheme. The details of this Stand up India loan scheme: – 75% of the project cost will be given by the government in the form of this scheme and the borrower has to pay the 25% of the project cost.

Stand Up India Loan Scheme

Name Of The SchemeStand Up India Loan Scheme
Launched ByGovernment Of India
BeneficiaryCitizens Of India
ObjectiveTo Provide Financial Support For Setting Up Enterprise
Official WebsiteClick Here
Year2022
Launched On15th August 2015
Mode Of ApplicationOnline

Objective Of Stand Up India Loan Scheme

The main objective of the Standup India loan scheme is to provide financial support for setting up Greenfield Enterprise. Through this scheme financial support from Rs, 10 lakh to Rs 1 crore is provided to SC, ST or women entrepreneurs. With the help of this scheme SC, ST, and women entrepreneurs will be facilitated in setting up enterprises, obtaining loans, and getting other support that is needed from time to time. Other than that through this scheme employment will be generated which will reduce the unemployment rate. Nearly 2.5 lakh beneficiaries will be benefited through 1.25 lakh banks under the stand-up India loan scheme.

Stand Up India Loan Scheme Portal

  • In order to get benefit of this scheme beneficiaries are required to register through the official portal
  • Through this portal feedback information will be provided
  • This portal can be accessed at home, at common service centre, through Bank branch and through LDM
  • If any bank branch internet access is restricted then the branch will guide the potential borrowers to an internet access point
  • This portal will host Information about various entities which are providing handholding support to the borrower which includes training, DPR preparation, margin money support, shed/workplace identification, raw material sourcing, bill discounting, e-Com registration, registration for taxation
  • Through the portal application forms can be obtained gathered and provided information

Features of Stand-up India Scheme

  • The interest rate applicable is set by the desired bank for that category that is banks’ not to exceed MCLR + 3% + Tenor Premium
  • The minimum age criteria to avail loan under the Stand-up scheme is 18 years for SC/ST people and women applicants
  • Loans are only offered for Green Field Projects which means for entrepreneurs who are venturing in manufacturing or trading sectors for the first time
  • Applicant should not have defaulted before to any bank or NBFC
  • Composite loan (that includes term loan and working capital) is offered between Rs. 10 lakh and up to Rs. 1 crore
  • Loans may be secured by collateral/ security or guarantee of Credit Guarantee Fund Scheme, as decided by the bank
  • Loans can be used for SC/ST and women entrepreneurs to set up new enterprises only in the trading, services, and manufacturing sectors
  • The repayment period is a maximum of up to 7 years with a maximum moratorium period of up to 18 months

eligibility criteria for Stand Up India scheme

  • The company should be a private limited/LLP or a partnership firm.
  • The age of the company/firm should not be more than 5 years.
  • The annual turnover of the company should not exceed Rs. 25 Crore.
  • A company dealing with commercial goods or innovating consumer products with approval from DIPP (Department of Industrial Policy & Promotion) will only be eligible for the loan.
  • The company should also produce few more letters/documents at the time of application.

documents required for stand up india loan

Any applicant who wants to get a loan under this scheme of the government, then it is necessary to have the following documents:

  • proof of residence
  • Aadhar Card
  • caste proof
  • Voter ID Card
  • Passport
  • driving license
  • Pan Card
  • Signature identification from the current bankers of the proprietor, partner of the director (if a company)
  • recent telephone bill
  • electricity bill
  • property tax receipt
  • business address proof

Size of Loan in Stand Up India Scheme

Composite loan of 75% of project cost inclusive of term loan and working capital. The stipulation of loan being expected to cover 75% of project cost would not apply if borrower’s contribution along with convergence support from any other schemes exceeds 25% of project cost.

Interest Rates Under Stand Up India Loan Scheme

The rate of interest would be lowest applicable rate of bank for that category (rating category) not to exceed (base rate MCLR + 3% + tenor premium). For sure, the loan under Stand Up India scheme will be provided at interest rate less than any other commercial loans provided by the financial institutions. The low interest rates charged to the borrowers will also help reduce the burden of paying back the loan amount. The interest rate may also depend upon the loan amount which vary between Rs 10 Lakh and 1 Crore.

PM Umeed Yojana 2022:

Apply For Loan Under Stand Up India Loan Scheme

Stand Up India Loan Scheme
Stand Up India Loan Scheme Apply
  • A new page will appear before you
  • On this new page you have to choose your category
  • After that you have to enter your name email address and mobile number
  • Now you have to click on generate OTP
  • After that you have to enter OTP into the OTP box
  • Now you have to click on register
  • After that you after click on login
  • Now you have to enter your login credentials and click on login
  • Now click on stand up India loan scheme option.
  • Application form will appear before you
  • You have to enter all the required details in this application form
  • Now you have to enter all the required documents
  • After that you have to click on submit
  • By following this procedure you can apply under stand up India loan scheme

Procedure To Login On The Portal

  • Go to the official website of Stand up India loan scheme
  • The home page will open before you
  • Now you have to click on login
  • Following options will appear before you:-
  • You have to click on the option of your choice
  • After that you have to enter username and password
  • Now you have to click on login
  • By following this procedure you can login on the portal

Track Application Status

Track Application Status
  • A new page will appear before you
  • On this new page you have to login by entering your login credentials
  • Now you have to click on application status
  • After that you have to enter your reference number
  • Now you have to click on track
  • Application status will be on your computer screen

Stand-Up India FAQ (FAQ)

What is Stand-up India Scheme?

in the country Stand-up India to promote grassroots entrepreneurship for economic empowerment and job creation The objective of this scheme is to provide easily subsidized loans for new startups.

When was Stand Up India started?

Stand Up India Scheme To Honorable Prime Minister, Shri Narendra Modi ji on 15th August, 2015 implemented all over the country

What is Start Up India Scheme?

This scheme has been implemented to support more and more startups in the country. This Start up India scheme has a strong presence in Tier 2 and Tier 3 cities where startups are often deprived of funding. startup will build the ecosystem.

How to apply for Stand Up India Loan?

To get the loan under the scheme, you have to fill the application form by visiting the official website, the process of application is given in the above article.

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