Eligibility Criteria for Stand Up India Scheme
- Applicant must be SC/ST and/or women entrepreneurs, above 18 years of age.
- Financial credit under the scheme is available for only green field projects which means that Applicants must have a new business idea that they want to start from scratch
- 51% of the shareholding and controlling stake should be held by either SC/ST or Women Entrepreneurs if enterprises are not individual.
- The Cibil score of the Applicant must be healthy means they should not be in default to any bank or financial institute.
- Applicant must have a business plan that is feasible and scalable.
What is Stand Up India?
What is Stand Up India? The Stand-Up India scheme is a government-backed initiative that aims to provide loans to aspiring entrepreneurs from Scheduled Castes (SCs), Scheduled Tribes (STs), and women. The scheme was launched on 5th April 2016 by Prime Minister Narendra Modi. The scheme provides collateral-free loans of Rs.10 lakhs to Rs.1 crore, based on their requirement.
The scheme provides access to credit and financial assistance to these underprivileged sections of society and enables them to start new businesses and become self-reliant.