Stand up India Loan Scheme, Subsidy, and Interest Rate – www.standupmitra.in/Login
Stand up India Application Form: It is a scheme launched by Government of India on 5th April 2016. The scheme is aimed at upliftment of women and people belonging to schedule caste/schedule tribe. Here we will discuss on Stand up India loan scheme, subsidy and interest rate details for more help go to www.standupmitra.in/login page.
The Stand-up India scheme provides the loan to promote entrepreneurship and employment. The scheme is a part of Prime Minister’s vision to make India a developed nation by 2022.
Main objectives of the Scheme
To promote entrepreneurship and generate employment
To encourage young mind to develop innovative ideas and foster it to start up a new business
The enterprise should be private/LLP that is to be run by individual or partnership.
The scheme targets to cover 2.5 entrepreneurs in first three years.
The annual turnover of the enterprise should not exceed Rs 25 crore and the enterprise should not be older than 5 years.
The scheme offers bank loan between ₹10 lakh and ₹1 crore for starting up a new enterprise.
The interest rates on the loan are less than the rate from any of the financial institution/bank.
For the start-up business, the government will provide 80% rebate on the fee for pattern filing.
To help us start up, the loan is offered with credit guarantee fund and for the first three years, there won’t be any tax to be paid.
Commercial goods or consumer products from the company must be approved by Department of Industrial Policy & Promotion.
It will also help entrepreneurs under the scheme eliminate legal and operational hurdles.
Eligibility to apply for Stand up India Loan
- Any women or SC/ST candidate above 18 years of age can apply for it.
- The loan is availed for greenfield projects only meaning the first-time venture in the field of manufacturing, services or trading.
- In case of partnership entrepreneurs, 51% of the share of should be held by SC/ST and/or women entrepreneur.
- The borrower should not be a defaulter in any of the bank/financial institutions.
How to Apply for Stand up India Loan
State Bank of India is an affiliate partner for the scheme. Stand up Connect Centre has been established where beneficiaries can visit to enroll for it.
A dedicated web portal has also been set up by the government where interested candidates can apply online for the loan. An online application form is to be filled up by filling required information such as personal details, business proposals etc.
The application has to submit the application form along with business action plan and legal documents.
Get benefits of Stand up India Loan Scheme to foster entrepreneurial character and start up a business to stand on your feet. You also create job opportunities for others and thus contribute towards building a nation!
More Related Queries:
- Stand up India Application Form/Loan Scheme/Subsidy Apply/Interest Rate/documents