Stand up India Scheme

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 Stand up India Scheme was launched on 5th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025.

The purpose of Stand-Up India is to:

  • promote entrepreneurship amongst women, SC & ST category; 
  • Provide loans for greenfield enterprises in manufacturing, services or the trading sector and activities allied to agriculture;
  • facilitate bank loans between Rs.10 lakh and Rs.100 lakh to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.

Why Stand-Up India?

The Stand-Up India scheme is designed to address the challenges faced by SC, ST and women entrepreneurs in setting up enterprises, obtaining loans and other support needed from time to time for succeeding in business. The scheme therefore endeavors to create an ecosystem which facilitates and continues to provide a supportive environment to the target segments in doing business. The scheme aims to encourage all bank branches in extending loans to borrowers from SC, ST and women in setting up their own greenfield enterprise. The desiring applicants can apply under the scheme:

  • Directly at the branch or,
  • Through Stand-Up India Portal (www.standupmitra.in) or,
  • Through the Lead District Manager (LDM).

 

Who all are eligible for a loan?

  • SC/ST and/or women entrepreneurs, above 18 years of age;
  • Loans under the scheme are available for only green field projects. Green field signifies, in this context, the first time venture of the beneficiary in manufacturing, services or the trading sector and activities allied to agriculture;
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur;
  • Borrowers should not be in default to any bank/financial institution;
  • The Scheme envisages ‘up to 15%’ margin money which can be provided in convergence with eligible Central/State schemes. In any case, the borrower shall be required to bring in minimum of 10 % of the project cost as own contribution.

Handholding Support:

Apart from linking prospective borrowers to banks for loans, the online portal www.standupmitra.in developed by Small Industries Development Bank of India (SIDBI) for Stand Up India Scheme is also providing guidance to prospective entrepreneurs in their endeavour to set up business enterprises, starting from training to filling up loan applications, as per bank requirements. Through a network of more than 8,000 Hand Holding Agencies, this portal facilitates step by step guidance for connecting prospective borrowers to various agencies with specific expertise viz. Skilling Centres, Mentorship support, Entrepreneurship Development Program Centres, District Industries Centre, together with addresses and contact number.

PIB, myScheme

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