Government of India
is launched the various schemes for social and economic welfare to our
citizens time to time, the stand-up India Scheme for financing SC/ST and/or
Women Enterprises is recent scheme which provide the direct financial benefits
to the all educated and skilled workforce. This scheme will play a crucial role
in solving many socio-economic problems that beset Indian society, and thus
their awareness is a must for any concerned citizen. Let’s discuss the main
points about the scheme.
First of all the main objective of this scheme:-
#OBJECTIVE
The objectives of the stand-up
India Scheme is to facilitate bank loans between 10 lakhs and 1 crores to at
least Scheduled Caste or Schedule Tribe (ST) borrower and at least one women
borrower per branch for setting up a Greenfield enterprise. This enterprise may
be in manufacturing. Service, Agri-allied activities or the trading sector in case non-individual enterprises at
least 51% of the Shareholding and controlling stake should be held by either an
SC/ST or women enterprises.
#ELIGIBILITY
1.
SC/ST and/or women enterprises, above 18
years of age.
2.
Loans under the scheme are available for
only green field project. Green field signifies, in the context, the first time
venture of the beneficiary in the manufacturing, service, Agri-allied
activities or the trading sector.
3.
In case of non-individuals enterprises,
51% of the shareholding and controlling state should be held by either SC/ST
and/or women Enterprises.
4.
Borrower should not be in default to any
bank/financial institution.
5.
Link for download form https://www.standupmitra.in/Home/Downloads
#NATURE OF LOAN
Composite loan (inclusive of term
loan and working capital) between 10 lakhs and upto 100 lakhs
#PURPOSE OF LOAN
For setting up a new enterprise in
manufacturing, service, Agri-allied activities or the trading sector by SC/ST
women entrepreneur.
#SIZE OF LOAN
Composite loan of 85% of the
project cost inclusive of term loan and working capital. The stipulation of the
loan being expected to cover 85% of the project cost would not apply if the
borrower’s contribution along with convergence support from any other schemes
exceeds 15% of the project cost.
#INTEREST RATE
The rate of interest would be
lowest applicable rate of the bank for that category (rating category) not to
exceed (base rate (MCLR) + 3% + tenor premium).
#SECURITY
Besides primary security, the loan
may be secured by collateral security or guarantee of credit Guarantee Fund
Scheme for Stand-up India Loans (CGFSIL) as decided by the banks.
#REPAYMENT
The loan is repayable in 7 years
with a maximum moratorium period of 18 months.
#WORKING CAPITAL
I. For drawal of working capital
upto 10 lakhs, the same may be sanctioned by way of overdraft. Rupay debit card
to be issued for convenience of the borrower.
II. Working capital limit above 10
lakhs to be sanctioned by way of cash credit limit.
#MARGIN MONEY
The Scheme envisages 15 % margin
money which can be provided in convergence with eligible Central/ State scheme.
While such schemes can be drawn upon for availing admissible subsidies or
for meeting margin money requirements,
in all cases, the borrower shall be required to bring in minimum of 10 % of the
project cost as own contribution.
More details please visit @ https://www.standupmitra.in
STAND-UP INDIA SCHEME WOULD BE OPERATED BY ALL THE BRANCHES OF SCHEDULED COMMERCIAL BANK IN INDIA.
Comments