under this scheme, a subsidised loan of 10 lac - 01crore is provided to SC/ST or women entrepreneurs to start new projects
Stand Up India Loan Scheme
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In order to
support women entrepreneurs and entrepreneurs form SC/ST community Prime
Minister Sh. Narendra Modi launched Stand Up India loan scheme
on 05th of April 2016.
Stand up India loan scheme aims to encourage
SC/ST and women entrepreneurs to set up greenfield enterprises (new projects)
of
MANUFACTURING,
SERVICES
TRADING
SECTOR
In case
of non-individual or partnership firms at least 51% of
shareholding should be of an SC/ST or a women entrepreneur.
The details of
Stand up India loan scheme are as given below:
Quantum of
loan:
MINIMUM:
Rs.10.00 Lac
MAXIMUM:
Rs.100.00 Lac
Rate of
Interest:
The rate of
interest under Stand up India scheme not to exceed
MCLR + 3%+ Tenor premium
(MCLR: Marginal Cost of Lending Rates)
Loan Repayment:
Maximum
repayment Period:
7 years
Maximum
Moratorium/Holiday Period:
18 months
Security:
Prime:
Mortgage/Hypothecation of Primary assets
created out of the loan
Collateral Security:
NIL
NO COLLATERAL SECURITY REQUIRED
Guarantor:
NIL
No Third Party Guarantee
GUARANTEE
COVER:
NCGTC provides CGSSI guarantee
cover for all loans conforming to the norms of Stand Up India Scheme over
Rs.10 Lacs & up to Rs.100 Lacs inclusive of Working Capital, to a
single borrower particularly for SC/ST/Women for
setting up of Greenfield enterprises without any Collateral security
and/or third-party guarantees.
Guarantee
fee:
0.85% p.a. of the loan amount + Risk
premium
CGSSI - Credit
Guarantee Scheme for Stand up India Loans
NCGTC -
National Credit Guarantee Trustee Company
NOTE:
There is No Compulsion for securing the loan by CGSSI
credit guarantee cover. The borrower may opt for securing the loan by way of
collateral security.
|
Margin:
Minimum 10% of
the project cost from borrowers own fund. As per this scheme 25% of
the margin money for the project will be provided by other central and state
government schemes which provide subsidies.
Documents
Required for Stand up India Loan
KYC for
Proprietor/Partners
ID Proof:
Address Proof:
Proof of
Category
Applicants
Latest Photographs
KYC for
Firm/Enterprise
Proof of
Identity/Address of Business Enterprise
Statement of
Accounts (Last 6 Months)
Balance Sheet
(Last 2 yrs) with IT/ Sales Tax Returns (Mandatory if Rs.2 Lac & above)
Projected
Balance Sheet (Cash credit - 1 yr; Term loan - loan period) (Mandatory if Rs.2
Lac & above)
Proposed
Project Report (technical & economic viability)
MOA & AOA
of company/ partnership deed etc.
In absence of
Third Party Guarantee, NET WORTH Statement of
Borrower/Directors/Partners
etc.
Type of
Facility:
CASH CREDIT AND TERM LOAN
This loan
facility consists of both term loan and working capital.
Working
capital:
Working capital
above Rs. 10.00 Lac to be
sanctioned as CC limit.
20% of the working capital limit
subject to a maximum of Rs. 05.00 Lac
shall be
sanctioned as SME Debit Card.
Stand up India
scheme is available in all most all commercial banks and banks have to process
such loans within a maximum period of 06 weeks from the date of receipt of
application.
How to apply
for Stand up India Loan:
Online mode
Click the below
link for online application of Stand up India loan
After clicking
this link a form will appear on your screen fill this form and register for
Stand up India loan online application online
Offline mode:
Directly by
visiting your nearest bank branch
Or
Through
district lead manager:
For more
details about your district manager visit the below link
Online
Tracking Of Stand Up India Loan Application
Features/
benefits under the scheme:
The web portal
designed by SIDBI for Stand Up India scheme not only links
prospective borrowers to banks for loans, but also provide handholding support
through a network of agencies engaged in below said activities:
Training &
Skill Development.
Mentoring.
Project Report
Preparation & Application Filling.
Work
Shed/Utility Support Services.
Subsidy Schemes
Etc.
Stand up india
clarifications/queries helpline
support@standupmitra.in
help@standupmitra.in
national
helpline toll free numbers for stand up india loan scheme:
1800-180-1111
Stand up India
loan grievance helpline
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