Stand Up India | Stand Up India Loan Scheme 2023: For any business or industry or agriculture Rs. 1 lakh to Rs. Get loan up to 1 crore
Stand Up India | Stand Up India Loan Scheme 2023 | Stand Up India Loan Scheme | Stand Up India Loan Scheme 2023 | Features of Stand Up India Yojana. Stand Up India Yojana
Stand Up India Loan Scheme 2023: Friends, are you only 8th pass and you are unemployed youth and you want to do business, then the government is providing you a golden opportunity to get self-employment, under this scheme SC, ST and all women Entrepreneurs want to take institutional loan, they can easily get loan under this scheme and can contribute significantly in the economic development of the nation.
This article will try to explain in all the smallest details how you can apply for it, as well as what documents will be required. That is why we will tell you in detail about Stand Up India Loan Scheme 2023 in this article. So dear readers read this article till the end.
Stand Up India Loan Scheme 2023
Stand Up India Yojana aims to promote entrepreneurship among women and scheduled castes and tribes. Stand Up India Yojana was launched on 5 April 2016 with an aim to promote entrepreneurship at the grassroots level with a focus on economic empowerment and employment generation. This scheme has been extended till the year 2025.
PMEGP is a Central Sector Scheme and will be administered by the Ministry of Micro, Small and Medium Enterprises (MoMSME). The organization will be done by the Khadi and Village Industries Commission (KVIC) and this organization will act as a nodal agency. National level.
People living in rural areas and socially backward scheduled caste or scheduled tribe people are also very backward economically to improve their economic condition and to improve the standard of living of women in the society the central government with a stand-up Has come. The government has started a scheme under which these poor women will be given a loan of Rs one lakh to Rs one crore at a low interest rate to start self-employment under this scheme.
Stand Up India Loan Scheme 2023 – Objectives
Scheduled Castes or Scheduled Tribes or Women as per their requirement Rs. 10 lakh to Rs. Providing loans up to 1 crore.
Promotion of entrepreneurship for SC or ST or women.
Providing various schemes and programs to support citizens to bring new businesses.
Stand Up India Loan Scheme – the main purpose
Stand Up India Yojana is mostly targeted at first time entrepreneurs which can cover up to 75% of the total project cost and the entrepreneur needs to commit at least 10% of the value. The scheme benefits at least one SC or ST borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or trading.
Stand-Up India Scheme Features
Stand-Up India offers a combination of loans including term loan and working capital loan.
The loan amount scheme will cover up to 75% of the project cost.
This scheme guarantees the lowest interest rate of the bank.
Apart from the primary security, you can secure the loan with collateral or guarantee from the Credit Guarantee Fund Scheme for Stand-up India Loans (CGFSIL).
The loan repayment period under this scheme is seven years. The scheme provides for a moratorium period of up to 18 months.
For loan amount up to Rs.10 lakh, the amount will be sanctioned through overdraft. RuPay Debit Card will be issued for convenient access to funds. For loan amount above Rs.10 lakh, the amount will be sanctioned as cash credit limit.
Eligibility Criteria for Stand-Up India Scheme
Stand Up India Loan Scheme 2023: The eligibility criteria for Stand Up India Yojana are as follows:
Only SC/ST persons and women entrepreneurs can avail the benefits of this scheme.
The age of the applicant should be more than 18 years.
Only Greenfield projects can apply for the loan scheme.
Non-individuals, such as existing companies and businesses, can also apply for the scheme.
51% of the shareholding and controlling stake of the firm should be held by SC/ST and/or women entrepreneurs.
The borrower should not be a defaulter with any bank or financial institution.