All about Stand Up India Scheme

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Understanding that energetic and passionate women, as well as those from the SC and ST communities, may face challenges in making their business dreams come true, Stand-Up India Scheme was created.  Thus, helping businesses like yours to grow.

What is the Stand Up India Scheme?

The Stand Up India Scheme is a government scheme in India that provides funding assistance to entrepreneurs who are from Scheduled Castes (SC), Scheduled Tribes (ST), or women.

Thus, the Stand Up India Scheme offers a loan that covers 85% of the total project cost, including both term and working capital loans.

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What is the eligibility criteria to apply for the Stand Up India Scheme? 

  1. Entrepreneurs who are either from the SC/ST community or women and are above 18 years old.
  2. The scheme provides loans exclusively for greenfield projects. Greenfield projects refer to the first-time ventures in manufacturing, services, or trading.
  3. For non-individual enterprises, at least 51% of the shareholding and controlling stake must be held by SC/ST and/or women entrepreneurs.
  4. Applicants should not be in default to any bank or financial institution.

Important Note: However, if the borrower’s own contribution and support from other schemes together exceed 15% of the project cost, they won’t be eligible for the Stand Up Scheme.

Benefits of Stand Up India Scheme

  1. You can access loans ranging from Rs 10 lakhs to Rs 1 crore, including working capital.
  2. Entrepreneurs get to utilize a RuPay debit card for convenient credit withdrawals.
  3. You can take advantage of the refinance window through SIDBI, starting with an initial amount of Rs 10,000 crore.
  4. Entrepreneurs availing this scheme receive pre-loan training and comprehensive support services, including assistance with loan facilitation, marketing, and factoring.
  5. You also get to learn about online platforms, e-marketing, web-entrepreneurship, and registration resources.
  6. As an applicant, you become eligible for an 80% rebate upon filing the patent registration application form.
  7. The scheme incorporates a Credit Guarantee Fund, providing additional security for entrepreneurs.
  8. Entrepreneurs get relaxation in income tax, particularly during the first three years of the startup. Complete relaxation is provided for entrepreneurs in terms of the Capital Gain Tax. Entities qualifying for the Stand Up India Scheme and Startup India Certification can enjoy additional benefits, such as the redemption of tax on the profits earned.

Learn more about Startup India Certification at: All about Startup India Certification

Process to apply for Stand Up India Scheme

  1. Go to the official Stand Up India website and Fill out the registration form by providing your business location details, including address, state, district, village, town, city, and pin code.
  2. Specify if you are a woman or belong to the SC/ST category, and confirm a 51% or higher stake in the business.
  3. Provide details about your business plan, including the nature of the business, desired loan amount, business activity description, available business space, and indicate if you are a first-time entrepreneur.
  4. Share your past business experience by mentioning the business activity, years of experience, and the nature of the business.
  5. Choose the desired handholding support for your business.
  6. Complete the registration by entering your personal information, including name, enterprise name, username, mobile number, email, and type of constitution.
  7. Click on the register button to submit your application. Financial institution officials will contact you for further procedures.

Also Read:

Startup Schemes for Women Entrepreneurs in India

If you need any more assistance regarding the Stand Up India Scheme or have any other doubts, you can call our experts at: 8881-069-069 and get quick assistance.

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