Stand Up India Scheme 2023: Apply Online, Benefits, Eligibility & Key Features

Stand Up India Loan Scheme 2023: On April 5, 2016, the Indian government launched Stand-Up India to encourage women and SC/ST communities to start their own businesses. It is distinct from Startup India but similar to it. Make in India, the Industrial Corridor, the Dedicated Freight Corridor, Sagarmala, Bharatmala, UDAN-RCS, Digital India, BharatNet, and UMANG are just a few of the important schemes implemented by the Indian government that both benefit from and enable them.

On April 15, 2016, Prime Minister Narendra Modi launched the Stand-Up India program as part of the government’s efforts to encourage women and SC/ST entrepreneurs. Scheduled castes, scheduled tribes, and women establishing new businesses outside of the farm sector can take advantage of the scheme’s bank loans, which range from 10 lakh (US$13,000) to 1 crore (US$130,000).

Stand Up India Loan Scheme: Key Highlights

More than 2,000 youth have found work as a result of the Stand Up India Loan Scheme. Through the Stand-up India Scheme, the District has seen the emergence of a number of entrepreneurial successes. The loan is disbursed without difficulty within 15 to 20 days of the application date.

Name Of The Scheme Stand Up India Loan Scheme
Launched By Government Of India
Beneficiary Citizens Of India
Objective To Provide Financial Support For Setting Up Enterprise
Official Website https://www.standupmitra.in/
Launched On 15th August 2015

Stand Up India Loan: Required Details

  • Location of Borrower
  • Category
  • Nature of business
  • Availability of place to operate business
  • Assistance needed for preparing a project plan
  • Requirement of skills and training
  • Details of bank account
  • Amount of own investment into the project
  • Whether help is needed to raise margin money
  • Any previous experience in the business

Stand Up India Loan Scheme Statistics

Total application 139408
Total amount 33098.87 crore
Sanctioned application 121046
Sanctioned amount 27295.18 crore
Hand holding agencies 24724
HHA request 10603
Lenders onboarded 367
Branches connected 152576

Eligibility for Stand Up India Loan Scheme

  • The SC / ST and /or Women entrepreneurs must be 18 years or above.
  • The company must be a private limited/LLP or a partnership firm.
  • Loans under the scheme is available only for Green Field Projects.
  • The applicant must not a bank or any other Organisation’s defaulter.
  • Under this scheme, Bank loans will range from Rs 10 lakh Rs 1 crore
  • Applicant must be permanent resident of India

Documents Required for PM Stand Up India Scheme

  1. Voter’s ID Card / Passport / Driving License / PAN Card
  2. Recent telephone bills, electricity bill, property tax receipt /Passport/voter’s ID Card
  3. Proof of Business Address
  4. SSI / MSME registration if applicable
  5. Documents to establish whether the applicant belongs to SC/ST Category

How to Apply for Stand Up India Scheme 2023

A person can apply the application for a loan under the Stand Up India scheme under three ways:

  1. Directly at the Banks Branch
  2. Stand Up India portal
  3. Lead District Manager (LDM) – List of LDM available on Stand Up India portal

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