Stand Up India Loan Scheme Eligibility
In order to be eligible for a Stand-Up loan scheme, the borrower needs to meet the following criteria:
- The borrower needs to be more than 18 years of age.
- The borrower must either be a woman or belong to the SC/ST community.
- The loans under this scheme are provided only for Greenfield projects. The business venture should be the first venture of the borrower in services, manufacturing, or trading sector.
- In case the company is a group company, then at least 51% of the company controlling or stake should be held by an SC/ST entrepreneur or woman entrepreneur.
- The borrower must not have defaulted in repaying a loan previously.
How to apply for Stand Up India Loan Scheme?
The minimum and maximum loan amount under Stand-Up India is Rs. 10 lakhs and Rs. 1 crore respectively. A borrower can apply for a Stand Up India loan by registering himself at the SIDBI’s Stand-Up India website and submitting the Stand-Up India application form online on the same portal.
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