Complete guide to Stand Up India scheme 2024. SC/ST and women entrepreneurs can get bank loans from Rs 10 lakh to Rs 1 crore for setting up greenfield enterprises.
Stand Up India Scheme 2024: Empowering SC/ST and Women Entrepreneurs
Stand Up India, launched on April 5, 2016, promotes entrepreneurship among Scheduled Caste (SC), Scheduled Tribe (ST), and women entrepreneurs. Since launch, the scheme has disbursed over Rs 43,000 crore to 1.8 lakh accounts, with more than 70% beneficiaries being women.
Key Features
- Loan Amount: Rs 10 lakh to Rs 1 crore (composite loan)
- Coverage: Up to 75% of the total project cost
- Repayment Period: Up to 7 years with moratorium up to 18 months
- Sectors: Manufacturing, services, and trading
- Guarantee: Coverage under CGFSI (Credit Guarantee Fund for Stand Up India)
Who Can Apply?
- SC (Scheduled Caste) entrepreneurs
- ST (Scheduled Tribe) entrepreneurs
- Women entrepreneurs (from any category)
- Must be at least 18 years old
- SC/ST/women must hold at least 51% stake
- Enterprise must be a greenfield project
How to Apply
Online: Via standupmitra.in
- Register as applicant and create profile
- Fill loan application with business details
- Submit documents electronically
- Portal matches you with nearest eligible bank branch
Offline: At Scheduled Commercial Bank
- Visit any Scheduled Commercial Bank branch
- Ask for Stand Up India application form
- Submit form with required documents
- Bank processes within 30 working days
Documents Required
- Aadhaar and PAN Card
- SC/ST certificate or women applicant declaration
- Detailed Project Report (DPR) with financial projections
- Bank statements of last 6 months
- Quotations for equipment and machinery
Conclusion
Stand Up India provides the financial support and institutional backing you need to make your business dream a reality. Visit standupmitra.in or your nearest bank to start your application today.