15 Jul 2017Posted By: Pulkit Gupta


Loan under Stand Up India Scheme

 

Stand-Up India Scheme facilitates bank loans between Rs.10 Lakh to Rs. 1 Crore to following persons: -

-               Scheduled Caste (SC) or

-               Scheduled tribes (ST) or

-               Women entrepreneur

This enterprise can be from any kind of sectors like manufacturing sector, services sector or trading sector or E-commerce.

In case of non-individual enterprises like a private limited company, LLP, partnership firm, OPC at least 51% of the shareholding and controlling stake should be held by either an SC/ST or woman entrepreneur to avail Stand-Up India Scheme.

The core objective of Standup India scheme is to provide financial assistance for starting small-scale businesses.

 

Mechanism for Availing loan under Stand-Up Scheme

Eligibility Criteria

-Applicant must be SC/ST/Any Women entrepreneur

-Above 18 years of the age

-In case of Company/LLP/OPC/Partnership Firm, SC or ST or any Women entrepreneur must hold 51% or more shareholding.

-Borrower should not be in default of any bank/financial institution

 

About Loan

Loan shall be a composite loan for the purchase of assets & for working capital as well.

 

Tenure of Loan

Maximum loan shall be granted for 7 years with maximum moratorium* period of 18 months

*Moratorium period means on which no EMI is payable.

 

Amount of Loan

Loan can be sanction for Rs 10 lacs to Rs 1 Crore

 

How to apply for a loan?

-               Approach directly to any branch of scheduled commercial banks

-               Apply through SIDBI’s Standup India Portal

-               Apply through Lead District Manager

 

Whether Collateral required or not?

Banks may ask for collateral as per their norms. Further, in absence of no collateral, you may apply for credit guarantee.

The scheme of credit guarantee for Stand-Up Loans has been notified visit site www.ncgtc.in

 

What documents required while applying for a loan?

-               Proof of Identity

-               Proof of Residence

-               Proof of business address

-               In case of Company/OPC/LLP/Partnership Firm – Incorporation Proof

-               Assets & Liabilities statement of promoters along with ITR for last 3 years

-               Clearance from pollution control board, if applicable

-               SSI/MSME Registration, if applicable

-               Photocopies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities

-               Documents to establish whether the applicant belongs to SC/ST Category, wherever applicable

-               Detailed Project Report for prospective business containing

  • Profile of the promoters including past experience, qualification, education, etc
  • Last three years balance sheets of the Associate / Group Companies (if any).
  • Project report (for the proposed project if term funding is required) containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, capacity of utilization assumed, production, sales, projected profit and loss and balance sheets for the tenor of the loan, the details of labour, staff to be hired, basis of assumption of such financial details etc.
  • Manufacturing process if applicable, the major profile of executives in the company, any tie-ups, details about raw material used and their suppliers, details about the buyers, details about major-competitors and the company’s strength and weaknesses as compared to their competitors etc.

Our professionals may help you to prepare project report & compile requisite documents for loan application under Stand-Up India Scheme.

For any assistance feel free to call us @ 011-65442500 or write us @ info@e-startupindia.com

Read more about

Want to register a company?

Want to prepare business plan/project report?

Click here to read about NIDHI Scheme (Seed funds & Grant for Technology-based startups)

Click here to read about Startup India Scheme (Funding for Business Innovative Idea) 

 

Comments


Posted By Sanjiv Kumar
Posted Date 2018-04-12 13:46:44

Good Morning, I am Sanjiv Kumar from Yamuna Nagar, Haryana and from last 5 months I was suffer from getting a small loan for start my business. There are many scheme for poor candidates who want to stand up with his capability. I have all required documents or detail are giving on these site for getting a loan. I have my own house and little agriculture field for security . But bank couldnt accept it as a security. I am very frustrated Please assist me with better guidelines. I am very thank full to you. I am waiting a positive response from you side via email or my contact number. Thank you Warm regards Sanjiv Kumar 9671859883


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