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).
Highlights
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
- Voter’s ID Card / Passport / Driving License / PAN Card
- Recent telephone bills, electricity bill, property tax receipt /Passport/voter’s ID Card
- Proof of Business Address
- SSI / MSME registration if applicable
- 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:
- Directly at the Banks Branch
- Stand Up India portal
- Lead District Manager (LDM) – List of LDM available on Stand Up India portal