The Stand Up India Scheme provides SC/ST and women entrepreneurs with financial assistance for greenfield projects. This scheme offers loan amounts from Rs. 10 Lakh to Rs. 1 Crore for first-time ventures in manufacturing, services or trading. These MSME loans are sanctioned by banks against collateral from the entrepreneur or a CGFSIL (Credit Guarantee Fund Scheme for Stand Up India Loans).
A pre-requisite to the Stand Up India loan is borrowers who need know-how and in-depth support for their venture. A borrower who does not require such support is a ‘ready borrower’. A borrower who opts technical support is a ‘trainee borrower’. The Lead District Manager (LDM) will assist the trainee borrower in liaising with the respective handholding agency.
You can apply for the scheme by registering at the Stand Up India portal and submitting Stand Up India application form online.
You can also apply for Bajaj Finserv Business Loans that offers financing of up to Rs. 30 lakh at affordable interest rates and simple eligibility criteria.
Funds to upgrade machinery
Up to Rs. 30 lakh | Pay only interest as EMI
Avail customized loans
Up to Rs. 30 lakh | Minimal documentation
Manage operational expenses
Up to Rs. 30 lakh | Flexible tenor options
Hassle-free finance for your enterprise
Up to Rs. 30 lakh | Approval in 24 hours