- Stand-Up India scheme was launched by Prime Minister Modi in April, 2016 with a view of uplifting the weaker section of society comprising Schedule Castes, Schedule, Tribes and women by encouraging banks to provide easy loan to them to establish new enterprise.
- Stand-Up India was launched with the objective of facilitating loan ranging from Rs. 10,00,000 to 1 crore to at least one SC (Schedule caste) or ST (schedule tribe) borrower and one women borrower per bank to set up Greenfield Enterprise.
- The enterprise could be in manufacturing, services or trading sector.
- In case of non- individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or a woman entrepreneur.
- Loans under this scheme are available for the green field project only which simply means loans under this scheme is applicable for the new ventures and projects related to the fields of manufacturing, services or trading.
- This scheme would encourage ST/SC and women entrepreneurs to start their enterprise.
- The scheme will cover almost 2.5 lakh young marginalized communities to get easy loans from 1.25 lakh bank branches in different parts of the country which would mean that every branch will make sure that a Dalit person, or a tribal or a woman will be given a loan
- Stand-Up India would help in reducing patent registration fee by 80%
- This scheme would be beneficial in eliminating red tape.
- This scheme would help empower the weaker section of the society in a significant way since women, ST and SC comprises most of the weaker section.
- Proof of identity
- Proof of residence
- Proof of business address
- Application should not be a defaulter in any bank
- Memorandum and articles of association of the company/ Partnership deeds of partners etc
- Assets and liabilities statement of promoter and guarantors along with latest income tax return
- Rent Agreement( if business premises is on rent) and clearance from pollution control board, if applicable
- SSI/MSME registration, if applicable
- Projected balance sheets of the next two years in case of working capital limits and for the period of the loan in case of term loan
- Photocopies of all the lease deeds/ title deeds of all the properties being offered as primary and collateral securities
- ST/SC certificate
- Certificate of incorporation from ROC to establish whether the majority stake holding in the company is in the hands of the person who belongs to SC/ST/Woman category
For cases with exposer above 25 lakhs
- Profile of the unit
- Last three years balance sheets of the Associate/Group Companies, if any
- Project report (for the proposed project if term funding is required)
- Manufacturing process, if applicable