Stand Up India scheme was envisaged for promoting entrepreneurship among SC/ST and Women entrepreneurs. The overall intent of scheme is to leverage institutional credit structure to reach out to the underserved of the population by facilitating bank loans between 10 lakh and 1 crore which is repayable up to 7 years for green field enterprises in the non-farm sector set up by SC/ST and Women Entrepreneurs. This enterprise may be in manufacturing, services or the trading sector.
- SC/ST and/or woman entrepreneurs, above 18 years of age.
- Loans under the scheme is available for only green field project. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or 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 Woman entrepreneur.
- Borrower should not be in default to any bank/financial institution.
To facilitate operation under the Scheme, SIDBI has set up a portal – standupmitra, with a view to promote wider propagation of the scheme and operations of the portal as well as to address any queries, etc.
Stand Up India Scheme in Rajasthan
- Under the scheme, 5790.29 crore has been sanctioned to 3,714 entrepreneurs and 442.63 crore has been disbursed upto 31 March, 2019.