OVERVIEW
Stand-Up India is a scheme for financing Scheduled Caste (SC)/ Scheduled Tribe (ST) borrowers and/or Women Entrepreneurs for setting up green field projects. This enterprise may be in manufacturing, services, agri-allied activities or the trading sector. In case of non -individual enterprises at least 51% of the shareholding and controlling stake should be held either by an SC/ST or Women entrepreneur.
Objective:
The Stand-Up India Scheme involves providing financial assistance ranging from ₹10 lakh to ₹1 crore to the individuals from SC or ST communities and/or women to set up their greenfield enterprise.
Eligibility:
Borrower should be SC/ST and/or woman entrepreneurs, above 18 years of age. The scheme is only applicable for a greenfield project.
Nature of Loan:
Composite loans (Working Capital + Term Loan) ranging from ₹10 lakh to ₹1 crore
Repayment:
The loan is repayable in 7 years with a maximum moratorium period of 18 months.
Margin:
Minimum of 10% of the project cost.
Scheme Benefits:
Credit Guarantee:
The loan amount is secured through primary security measures. Additionally, the guarantee or collateral security of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL)/CGFMU is offered as determined by banks.
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