Term Loans will be credits offered to organizations for their development, capital consumption and for settled resources.
Stand Up India Loan Services in Purnia, Bihar
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Stand-up India scheme provides funding to women entrepreneurs and people who come under the SC/ST category of society. The Stand-up India scheme was launched by the Government of India to provide credit services primarily to the people belonging to the Scheduled Castes/Scheduled Tribes. The primary objective of this scheme is to help the banks to give loans between Rs. 10 lakh and Rs. 1 crore to at least one SC/ST applicant and one woman entrepreneur in each bank branch, so that they can set up their own business or enterprise.
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Stand-Up India Scheme – Finance for Women or SC/ST
The objective of Stand-Up India scheme is to facilitate bank loans between ₹ 10 lakh and ₹ 1 crore to Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and Woman borrower for setting up a greenfield enterprise (first time venture), 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 Woman entrepreneur.
Product Offering
- Commercial Vehicle Loan: Loan for vehicles for starting Transport/Logistics business
- Construction Equipment Loan: Loan for equipment for starting Construction/ Equipment rental business
- Car Loan: Loan for vehicles for setting up Taxi/Car rental services
- Business Installment Loan (BIL): Term loan for new business for buying plant and machinery, furnishing offices etc.
- Loan Against Property: Term Loan against property for new business for buying plant and machinery, furnishing offices etc.
- Business Loans Group (BLG) and Rural Business Credit (RBC): Overdraft facility/Cash Credit facility/Term Loan for new venture
- Medical Equipment Loan: Loan for medical equipment for setting up new ventures (Loan amount between ₹ 10 to 25 lakh)
- Office Equipment Loan: Loan for office equipment for setting up new ventures (Loan amount between ₹ 10 to 25 lakh)
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Apply for Stand-Up India Scheme
- Directly at the branch or
- Through SIDBI’s Stand-Up India portal or
- Through the Lead District Manager (LDM)
The portal will be a crucial interface layer for parameters/metrics of the borrower (obtained through a set of about 8-10 questions listed below) and will provide information and feedback to such borrowers. A potential borrower will have the option of registering on the portal right away or simply visiting it and registering later. This portal may be accessed at home, at Common Service Centers (CSCs), through a bank branch, or through the LDM. In branches where internet access is restricted, the branch executive will guide the potential borrower to an internet access point.
The approach of the Stand-Up India portal, for handholding, is based on obtaining answers to a set of relevant questions at the initial stage. These would typically be:
- Location of the borrower
- Category – SC/ST/Woman
- Nature of business planned
- Availability of place to operate the business
- Assistance needed for preparing a project plan
- Requirement of skills/training (technical and financial)
- Details of present bank account
- Amount of own investment into the project
- Whether help is needed to raise margin money
- Any previous experience in business
Based on the response, the portal provides relevant feedback and helps categorise the visitor to the portal as a ready borrower or a trainee borrower.
Ready Borrower
In case the borrower requires no handholding support, then registration on the portal as a Ready Borrower starts the process of application for the loan at the selected bank.
Trainee Borrower
In case the borrower indicates a need for handholding, then registration as a Trainee Borrower on the portal will link the borrower to the LDM of the concerned district and the relevant office of SIDBI/NABARD.
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FAQs for Stand Up India Loan Services
Who is Eligible for Stand-Up India?
SC/ST and/or women applicants of minimum 18 years of age are eligible to apply for loans under the Stand-up India scheme.
What is Hand Holding Support?
Since the objective of the scheme is to promote green filed projects among SC/ST and women entrepreneurs, the potential borrowers may require assistance for smooth launch of the scheme. The assistance may be in the areas of mentoring, skill development and matching the needs of the banks. Hand holding is the process by which borrowers are associated with the relevant agencies who are adequately equipped to remove the hassles to the borrowers.
How can I Apply for Stand-Up India?
You can submit a loan under the Stand-up India scheme by visiting the nearest bank branch and filling out the loan application form with required documents and photographs.
What All is Eligible Under Agri-allied Activities?
Activities such as fish farming, beekeeping, poultry, livestock, rearing, grading, sorting, agro-industry, dairy, fisheries, agriculture and agribusiness centres, food and agro-processing, etc. (Crop loans, land reforms such as canals, irrigation , wells) and the services supporting them will be eligible for coverage under this scheme.
Who shall Monitor The Scheme?
LDM, DLCC, and SLBC will monitor the achievements under SUI. The information will be taken through the portal and thus it is important to feed correct information and update it regularly.
Is There Any Subsidy in Stand-Up India?
No, no subsidy is given under this scheme. However, loans up to 75% of the project cost from scheduled commercial banks as well as private and public sector banks are offered at attractive interest rates.
TAX Audit Services in Purnea, Bihar
Working capital is the measure of an organization’s present resources short the measure of its present liabilities.
MUDRA is an establishment set up by the Government for improvement and renegotiating exercises identifying with miniaturized scale units.
Avyud Consultancy is the largest business services platform in India, offering a variety of services like collateral free loan syndication,
