Stand Up India Loan Scheme – Apply, Eligibility & Interest Rates

Stand Up India Loan Scheme
April 8, 2016 | Last Modified: April 19, 2016 at 5:48 am | Category: Central Government, Pradhan Mantri Yojana

Launched on 5th April, Stand Up India is a new initiative by the Government of India for the schedule caste, backward tribes & women. It is basically a loan scheme to provide financial assistance to lower sections of the country. The stand up India scheme also promotes entrepreneurship and employment among SC/ST and women.

Main objective of Stand Up India Loan Scheme

The main objective of the scheme is to provide financial aid to SC/ST and women to promote entrepreneurship and employment in the country. The financial aid will be provided to set up and grow businesses to SC/ST and women in need. The initiative will also encourage young minds to come up with innovative ideas and create job opportunities in the country.

Amount of Financial Aid
The loan amount aid under the scheme would vary between Rs. 10 lakh to 1 Crore. The initiative will allow and enable under-served to utilize the institutional credits in the form of bank loans. Under the Stand Up India initiative, RuPay debit cards will be issued to the borrowers to withdraw the money/capital for operations.

The funds allocated under the scheme will help borrowers start their ventures and overall grow the economy of country. Other than the financial aid, the government will also help eliminate the legal and operational hurdles for entrepreneurs under the scheme.

How to enroll/apply for Stand Up India Loan

Central government may launch a dedicated web portal soon where the interested candidates can apply online for the loan under Stand Up India scheme. A self certification system will also be launched for the same purpose. The interested applicants can fill the online application forms by filling all the required data such as personal details, proposed business details etc.

The applicants will be required to submit their plan of action along with the legal documents to validate their loan requirements.

Eligibility Criteria for Stand Up India Loan Scheme

Government plans to reach out a maximum people and provide financial aid to start their businesses. But, it will not be feasible to provide loans to everyone. The applicants will be required to abide the rules and guidelines of the stand up India scheme. The designated team will review all the loan applications and approve only those showing true need and potential of success.

The basic eligibility criteria for stand up India scheme is

  • The company should be a private limited/LLP or a partnership firm.
  • The age of the company/firm should not be more than 5 years.
  • The annual turnover of the company should not exceed Rs. 25 Crore.
  • A company dealing with commercial goods or innovating consumer products with approval from DIPP (Department of Industrial Policy & Promotion) will only be eligible for the loan.
  • The company should also produce few more letters/documents at the time of application.

Benefits of Start up India Scheme

The stand up India loan scheme will benefit four kinds of individuals mainly angel investor, incubator, consultant and entrepreneurs. The scheme gives right platform to everyone and grow their businesses.

Start up India provides professional advice, time, and knowledge about laws to the angel investors and aid for initial two years of the first stage of the scheme. An incubator will get right coaching and expertise knowledge to shape their ideas and thoughts into a definite shape and structure.

The main benefit is for the loan borrowers, they need not to worry so much about paying back the loan amount. The borrowers will be given a time of up to 7 years to pay the loan amount. The loan borrower also have the freedom to choose the amount to be paid back per month.

Tax benefits under Stand Up India Scheme

The government will provide 80% rebate on patent filing fee under the scheme if the patent is filed by a startup. The scheme includes Credit Guarantee Fund and entrepreneurs need not to pay any income tax for the first 3 years. This will help startup grow at even faster pace without worrying about paying heavy taxes.

Interest Rates Under Stand Up India Loan Scheme

For sure, the loan under Stand Up India scheme will be provided at interest rate less than any other commercial loans provided by the financial institutions. The low interest rates charged to the borrowers will also help reduce the burden of paying back the loan amount. The interest rate may also depend upon the loan amount which vary between Rs 10 Lakh and 1 Crore.

Funding under the scheme

Initially, the central government of India has approved Rs. 10,000 Crores for the scheme. The funds will be allocated to the under privileged to encourage the innovative ideas.

Key features of Stand Up India Loan Yojana

  1. The stand Up India initiative aims to support 2.5 lakh Women and SC/ST entrepreneurs to set up and grow their businesses.
  2. The government has set a target sanction 2.5 lakh loans in a time frame of 36 months.
  3. The scheme will provide 100% relaxation in income tax for startups for first 3 years.
  4. The loan application process and licensing process is to be automated for quick actions and faster approval.
  5. The government will launch dedicated website and application to help interested candidates.
  6. Financial aid amount for the startups will vary between Rs. 10 Lakh to 1 Crore.
  7. 80% rebate on the patent application fee will be refunded to the the entrepreneurs.
  8. The exit process only takes 90 days to wind up the entire process.
  9. More than 5 lakh schools across the country will be covered under the program to promote innovation core programs.

Helpline for Start up India
At present, there is no dedicate support team to help interested candidates regarding the scheme. However, more information about the initiative can be obtained by calling to concerned group at 011 40540722.

69 comments on “Stand Up India Loan Scheme – Apply, Eligibility & Interest Rates

  1. Mrs. Swapna debbarma says:

    I want to get loan from the stand up scheme for setting up piggery firm, so please help me that I may get loan. Thanks.

  2. G Kusuma says:

    SIr,

    Iam kusuma from vizag,sir please tell me how to aplly for this loan,i have started a small super market,so please tell me what is the process for this loan.

    Thanks

  3. PRABHAKAR says:

    Ji, me also want to be the loan.i like the scheme. But iam a mbc community.iam opening for online shopping business in world level please inform

  4. shankar says:

    Sir aata chukky thaliana hai usakeliye stand up India se loan chahiye kaise apply karu

  5. Charu Kaul says:

    Sir/Maam,

    I am aspiring to open a Coffe Shop chain in Delhi NCR. Please advise how to apply for the loan

  6. jasharath verma says:

    post jamoneya ganesh th narshingrh distt rajgrh m,p

  7. D H Sekhar says:

    Sir/Maam

    I completed Applied Arts.So i will start Add Agency.Please advise how to apply for the loan.

  8. manendra singh says:

    sir,hum pm startup yojana se lon kaise prapt kar sakte hain.
    plZ .

  9. prerana pandey says:

    sir/madum, I want open a school for business purpose and also charitable for poor children.for this purpose I want loan under the scheme stand up India.kindly advice me how aply for loan.

  10. Manish kumar mishra says:

    Sir,, I want to open a restaurant.for that purpose.I just want taken loan under the scheme stand up India…so kindly advice me how to apply for loan..or sir Iam in general category… So plz advice me…..

  11. Mr Ahmad Zuhdy says:

    Do you need a loan to pay off bills or buy a house or
    Increase your business?at a reduced interest
    Rate of 2%.EMAIL: ahmadzuhdyfirm99@hotmail.com

  12. apeksha ubale says:

    I want to get loan under standup India scheme .but we don’t’ know how to apply.pls give more inf about that

  13. mahesh kumar says:

    Sir,, I want to open a poly bag machine.for that purpose.I just want taken loan under the scheme stand up India…so kindly advice me how to apply for loan..or sir Iam in sc category… So plz advice me…..

  14. NANDITA BEHERA says:

    Dear Sir/Madam,

    I want to make chicken firm and goat fir in Odisha kindly suggest me how can I get the loan from stand up India so that I will run my own business.

    Thanks & Regards,

    Nandita Behera

  15. HARI PRASANNA DAS says:

    I want to take a loan for start business. I am a defaulter but not intensionally. Am I eligible for the same and how I can I get the loan please reply.

  16. sanjeet says:

    sir hm start up india se loan kaise ley skte hai

  17. Sir mujhe English to nahi but loan
    Ke liye dekhiyega

  18. Gama Sanjeev says:

    I want a this loan I have a better business plan “natural ayurvedic sambar masala” plz give me reply sir plzzzzzzz sirji I am very poor family sir please tell me how to apply sir please believe me sir. 9553752070

  19. aswinportel says:

    I want to open a showroom in darjeeling and I am s/c so please provide loan and help me

  20. vinod kumar says:

    Vinod Kumar

    Muje sewing machine ka kam or
    Badana h eske leye loan chahiye Mari
    Farm ragistar h

  21. Joy Dutta says:

    Dear Sir,

    Kindly help me to give us the loan its very important for me, as because i have to run my family and my financial was not so good..

    Thanking you.

  22. I went to open a furniture factory in pilibhit(U.P) and I am S/C so please 1Cr.Loan and help me

  23. Sariga says:

    Sir I want to get loan from stand up India scheme.How can I get the loan.I will start to small supermarket.so please help me sir how to get it.My no.9790820977.Thank you.

  24. BHANU PRATAP SINGH says:

    Sir I want to get loan from stand up India scheme.How can I get the loan.I will start to small supermarket.so please help me sir how to get it.My no.9198239582.Thank you.

  25. prateek says:

    fir sc/st ke liye start kardi scheme general candidate kya paise wale hi paida hote hain jo unke liye kuchh nhi.

  26. reshmi krishna says:

    Dear sir , I want to start a import export business . so want to get a loan from this scheme . plz tel me sir how I can apply for this loan and what steps I do for getting this loan . plz give me reply and ur great wishes also.I hope U will help me…….. Bcoz that much believe and loves upon u sir …..
    Thank u

  27. nishi kant says:

    sir mai sc cast se hu loan lene hai muzzafarpur(bihar) me office ke bare me app adderss ki jankari dejey

  28. Juri sharma says:

    Sir existing borrower will take the loan under standup india for a new manufacturing unit.

  29. ravi kumar says:

    Dear sir ,I am Ravi from bodhgaya .I belongs from SC caste I have need to take loan…for start the business of water plant in bodhgaya (bihar) so if possible plz help us sir …I will pay the loan as soon as after the business.

  30. Junaid Ahmad says:

    ir I want to get loan from stand up India scheme.How can I get the loan.I will start to small supermarket.so please help me sir how to get it.My no9911998843.Thank you.

    Reply

    Juanid Ahmad New Delhi

  31. rajesh mehra says:

    Sir i am rajesh mehra is sc cost sir dary hatu mujha lon ki absakta hai sir yaha pay panchyat balay sarpanch sacep koi yjna nahi batay hay sis ples mey ak yang yubak sir ples my halp me

  32. shivaraj js says:

    Sir I want start new own medicalstore in my city and it very helpful for our pepole.thats why Iwant loan from stand up lndia scheme .pls giving details about the loan .(9483695854)

  33. shivaraj js says:

    Sir,I want to get loan and start a new medicalstore in my city and it will very helpful for our pepole.thats why I want to loan from stand up lndia scheme to start a medicalstore .pls giving details about the loan .I belongs to the sc category (9483695854)

  34. SAKTI NANDI says:

    I WANT LOAN TO OPEN A SHOP MY FINANCIAL CONDITION IS VERY POOR .PLEASE GRANT ME LOAN.MOBILE NO
    9831353726

  35. pawan says:

    i want a loan under PM modi stand up yojna … whare to apply

  36. POONAM SHUKLA says:

    SIR,
    I WANT A LOAN UNDER PM MODI STAND UP YOJNA FOR BUSSINESS.MY FINANCIAL CONDITION IS POOR. PLEASE TELL ME HOW CAN I APPLY FOR LOAN.WHERE I CAN APPLY.

  37. vimal says:

    start new project

  38. Laloonigam says:

    Sir me refrigeration service shope kholana chahata hu lone lena chahata hu jisake liye 200000 lakh ka lone chahiye pls helpe me me refrigeration ka kusal karigar hu 9754007448

  39. muhammad miya says:

    Sir mera name mohd miya hai kiya mujh ko bhi stend up india se loan miljayega agar ha to kese kiya karna hoga mai apna koi personal bissnes karna chah taho magar mujh ko paiso ki zarorat hai.plz help me

  40. dhuda balabhai rajabhai says:

    Sbi me Maine home lone Li hai muje labh milega me SC hu

  41. Anurag Verma says:

    Sir,
    . I want to open a GYM… So that’s why I need Money near about 5Lakhs…. So please provide me and help …to open a Gym…

  42. LEELADHAR BAIRAGEE says:

    Sir, I have want open a restaurant against pm standup yojna . I am belong to obc . So please tell me I apply for lone

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  44. jaibir singh says:

    i want a loan under PM modi stand up yojna … whare to apply

  45. jaibir singh says:

    i want a loan under PM modi stand up yojna … whare to apply
    M b :9466766100

  46. shiv Kumar meena says:

    Sir/mam
    I am a teacher in govt. School . I want stand a byssiness in my nearly town binaganj. I like a see a change in peoples habit of shopping.
    So please give me a idea for loan by stand up start up India.
    Thanks sir/mam

  47. prati pal kumar says:

    I AM A PRIVATE TEACHER . I WANT TO TAKE LOAN FOR MY REGISTERED FIRM PLEASE GIVE ME HINTS

  48. prati pal kumar says:

    I WANT TO TAKE LOAN ACCORDING TO SATND UP INDIA SCHEME PLEASE TELL ME

  49. Afrojshah says:

    Muche loan ki jarurt hai plz tell me

  50. mool chand says:

    Sir
    Mujhko poltyari farm ke liye lone kase milega

  51. Tushar s sapkale says:

    Dear sir i am Tushar s Sapakale from kurha Kakoda Tal_Muktainagar Dist_Jalgaon state_Maharashtra.i am so glad to see this sceam i am so interested its helps me for earning so pls guide me
    Thanking you

  52. Aman kumar says:

    hame lone ke jarurat hai plese halp me sir ji

  53. shakilabanu says:

    I need loan sir stand up india scheme
    plz help me My phone number 9884673336 My mail id afroserifaya@gmail.com. i am doing sarees business 10 years plz Help me Your obediently T Shakilabanu

  54. mohd afjal says:

    i am student
    mobail shop

  55. PARIJATHA says:

    Our is startup company innovation concept technology project 8095832559

  56. PARIJATHA says:

    Our is startup company innovation concept technology project contact pls: 8095832559

  57. paresh bhai says:

    Dear sir my name is paresh
    Business mate loan ni jarurat see
    M.9824258770

  58. sailed kumar says:

    I want open school for poor children please help me Give lone How to apply stand up india

  59. sailesh kumar says:

    I want open school for poor children and please give me a Lone stand up India How To apply

  60. harish panjarivala says:

    Gaudhan yojna lon

  61. Aman Verma says:

    Sir/mam
    Home loan ki jrurt hain kse nikl skte hn … olz help me

  62. NAMO NARAYAN MEENA says:

    Dear sir my name is NAMO NARAYAN MEENA
    please lone give me
    M0b. 75687-28893

  63. kishor thakkar says:

    i want open the small shop how can apply the lone
    Kishorkumar thakkar
    bela thakkar

  64. Mohan lal says:

    Sir plz mujhe home lone chahiye

  65. Bikashkumar says:

    I have to need loan so sir please advice for stand up India lon

  66. Anusha says:

    Sir I want to get loan from stand up India scheme.How can I get the loan.I will start to small supermarket.so please help me sir how to get it. we are not financially sound.Thank you.

  67. Jitendra Kumar says:

    Sir
    I am jitendra Kumar,belong to sc
    I want to get loan from stand up India scheme.How can I get the loan give me instructions & I will start to small water business,
    thankyou

    My no.8009427639

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