The Stand Up India Loan Scheme was introduced by the Honorable Prime Minister of India, Mr. Narendra Modi, to encourage entrepreneurship among women in the SC and ST sectors. On August 15, 2015, this program was introduced in an effort to give participants more economic power. In addition, this plan aids in opening up career prospects. The beneficiary of this program can take part in the country’s economic development. This program will assist around 2.5 lakh individuals through 1.25 lakh banks. We will give you entire information about this program, including its goal, advantages, features, requirements, and how to apply online, log in, check the status of your application, etc., through this page.
Stand Up India Loan Scheme 2023
This program has been established to assist SC/ST and female entrepreneurs in starting businesses, securing financing, and providing additional support that may be occasionally required. All scheduled commercial bank branches will be covered by this program, either directly at the branch or via the lead district manager’s SIDBI stand-up India site.
A Stand Up India Loan Scheme has been introduced by the Indian government. Bank loans are made available to women, scheduled castes, and scheduled tribes under this program. The amount of these bank loans would range from Rs. 10 lakh to Rs. With the aid of this program, each bank branch will be able to offer a loan for the establishment of a Greenfield Enterprise to at least one borrower who belongs to a scheduled caste or tribe and at least one woman. This business may be in the manufacturing, service, agriculturally related, or trading sectors. If the business is not owned by a single person, SC/ST or female entrepreneurs must own at least 51% of the shares and control of the company.
Objective Of Stand Up India Loan Scheme
The primary goal of the Standup India loan program is to provide funding assistance for the establishment of Greenfield Businesses. Through this program, SC, ST, or women entrepreneurs can receive financial assistance ranging from Rs. 10 lakh to Rs. 1 crore. This program will make it easier for SC, ST, and women business owners to launch new ventures, access loans, and receive other support that may be occasionally required. Additionally, by implementing this plan, employment will be created, lowering the unemployment rate. The stand-up India loan scheme will benefit around 2.5 lakh beneficiaries through 1.25 lakh banks.
Stand Up India Loan Scheme Portal
- In order to get the benefit of this scheme beneficiaries are required to register through the official portal
- Through this portal, feedback information will be provided
- This portal can be accessed at home, at the common service center, through a Bank branch and through LDM
- If any bank branch internet access is restricted then the branch will guide the potential borrowers to an internet access point
- This portal will host Information about various entities which are providing handholding support to the borrower which includes training, DPR preparation, margin money support, shed/workplace identification, raw material sourcing, bill discounting, e-Com registration, registration for taxation