Stand-Up India for Financing SC/ST and/or Women Entrepreneurs
- ARE
- Mar 5, 2020
- 2 min read
Small Industries Development Bank of India (SIDBI)
Stand Up India Scheme facilitate bank loans between 10 lakhs and 1 crore to at least one scheduled caste (SC) or Scheduled Tribe, borrower and at least one women per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.
Eligibility
SC/ST and/or women entrepreneurs; above 18 years of age
Loans under the scheme is available for only greenfield project. Greenfield signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector
In case of non-individual enterprises,51% of the shareholding and controlling stakes should be held by either SC/ST and/or Women Entrepreneur
Borrower should not be in default to any bank or financial institution
Procedure to Apply Online
The scheme which covers all branches of Scheduled Commercial Banks, will be accessed in three potential ways:
Directly at a Bank Branch
Through SIDBI Stand-Up India Portal (www.standupmitra.in)
Through the Lead District Manager
How to Avail Stand Up India Scheme
Through stand up India Portal provides information to a potential borrower on various kinds of handholding support from different agencies and also provides a window to get in touch with banks to avail loans
The applicant first clicks to "Register" and answer to few short questions on the Registration page of the portal
Based on the response, the Applicant would be classified as the "Trainee Borrower" or “Ready Borrower". Applicant would also be given feedback on his/her eligibility for stand-up India loan
A trainee borrower/ready borrower may then choose to register and login through the portal
Upon logging through the portal, the borrower is taken to a dashboard
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