Stand-up india scheme | Loan to SC Entrepreneur for setting up Manufacturing unit
Operated by
Ministry of Finance,
Government of India - Dept. of Financial Services
Purpose
Financial assistance to SC Entrepreneur for setting up Manufacturing unit
Probable duration
-
Eligibility
- SC/ST and /or Women entrepreneur, above 18 years of age
- Loans under the scheme is available only for greenfield project. green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or service or trading sector.
- in case of non-individual enterprises , 51% of the shareholding and controlling stake should be held by either SC/ST and /or Women entrepreneur
- The company must be a registered LLP, Partnership or individual entity
- The age of the company must not exceed 5 years
- The product must be related to commercialisation
- Annual turnover must be less or equal to 25 crores
- Certification from DIPP
Benefit Description
To support the SC entrepreneurs to start their own enterprise and become self sufficient
Application process
Application form is given in below link : https://www.standupmitra.in/Home/Downloads
Other Details
Conditions if Any
- The loan is repayable in 7 years with a maximum moratorium period of 18 months
- The rate of interest would be lowest applicable rate of the bank for that category (rating category) not to exceed (base rate MCLR + 3% tenor premium)
More Information