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Stand Up India

Stand - up India - Loan interest for Standup India scheme and how to apply it, what are the processes & what do the documents required for standup india scheme...t

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Stand Up India

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  1. Stand-up India The Stand up India program aims to promote entrepreneurship among women and organized castes and nations. The program is coordinated by the Department of Finance (DFS), the Department of Finance, the Government of India. The Stand-Up India Scheme facilitates bank lending between Rs 10 lakh and Rs 1 Crore for at least one Scheduled Caste (SC) or Tribe (ST) borrower and at least one female borrower at the branch each bank to establish a greenfield business. This business may be in the manufacturing, services or commercial sector. In the case of separate entities at least 51% of the share and control share should be managed by SC / ST or a female entrepreneur. Eligibility SC / ST and / or women entrepreneurs, over the age of 18. Sub-program loans are only available for a green field project. The green field indicates, in this context, the primary beneficiary business in the manufacturing or services or trade sector.

  2. In the case of non-exclusive enterprises, 51% of the share and control share should be managed by SC / ST and / or Women Entrepreneurs. The borrower must not be at fault in any bank / financial institution. Stand up India Loan details Loan type - Combined loan (including term loan and working loan) between 10 lakh and upto 1 cr. Loan Purpose - To establish a new business in the manufacturing, trade or services sector by SC / ST / Women entrepreneur. Loan Size - Combined loan of 75% of project cost including term loans and operating fees. The loan rate that is expected to cover 75% of project costs will not apply if the borrower's contribution and merger funding from any other schemes exceed 25% of project costs. Interest Rate - The interest rate will be the lowest effective bank interest rate in that category (interest rate) that does not exceed (minimum interest rate (MCLR) + 3% + tenor premium). Security - In addition to basic security, loans can be secured by securities or a guarantee of the Stand-Up India Loans (CGFSIL) Security Guarantee Scheme as determined by banks. Fees - Loans are paid for 7 years for a period of 18 months.

  3. Working Capital - With deductions of up to 10 lakh, the same can be allowed through overdraft. A Rupay bank card will be issued for the convenience of the borrower. Cash limit of more than 10 lakh to be allowed in the Cash Credit limit. Margin money - The scheme aims for 25% of the margin funding that can be provided in conjunction with the relevant Central / State programs. While such programs may be deducted from receiving eligible funding or meeting additional funding requirements, in all cases, the borrower will be required to contribute at least 10% of the project cost as his or her contribution. How to apply for a loan The plan, which includes all branches of Organized Commercial Banks, will be available in three possible ways. Directly to the branch or Through the Stand-Up India website (www.standupmitra.in) or Through the Lead District Manager (LDM) Checklist - Stand-Up India Loan Application Proof of Identity: Voting Identity Card / Passport / Driver's License / PAN Card / Signature Identification from current business owners, partner partner (if company) Proof of residence: Recent telephone bills, electricity bill, local tax receipt / Passport / ID Card Owner, partner partner (if company) Proof of business address The applicant should not miss out on any Bank / F.I.

  4. Memorandum and Articles of Association Company / Partnership Deed etc. Statement of assets and liabilities of promoters and guarantors and the latest income tax return. Lease Agreement (if rental business premises) and approval to the pollution control board if required. SSI / MSME registration if applicable. Balance sheets are set for the next two years in terms of operating limits and loan terms in the event of a term loan. Copies of title deeds / deeds of all properties offered as securities and mortgages. Documents to determine if the applicant belongs to the SC / ST category, where applicable. Certificate of inclusion from the ROC to determine whether the majority of the company's stakeholders are in the hands of a person in the SC / ST / Women category. Of The Cases That Can Be Revealed Above ₹ 25 Lakhs Unit history (including names of promoters, other directors in the company, work done by addresses of all offices and plants, stock pattern etc. Three years ago of Associate / Group Companies balance sheets (if any). The project report (proposed project when required funding) contains details of equipment to be acquired, receipt, price, supplier names, financial information such as equipment capacity, estimated operating capacity, production, sales, expected profit and loss and loan balance sheets, staff details, employees , basis for consideration of such financial information etc. Production process if any, large management profile in the company, any binding, details about the materials used and their suppliers, details of customers, details of major competitors and strengths and strengths of the company and its weaknesses compared to competitors etc. The checklist is only indicative and incomplete and depending on local needs in different areas the addition can be made according to need (each).

  5. Loan application submission process 1.Details of the borrower's specific parameters / metrics (obtained from a set of about 8-10 questions listed below) are collected through the first registration process on the site. Based on the information provided, the answer is given to the borrowers. 2.The Stand-Up India portal approach, a handshake, is based on finding answers to a set of relevant questions in the first section. This will usually be: 1. The borrower's place 2. Category - SC / ST / Female 3. The type of business is planned 4. Availability of business premises. 5. Assistance is needed to prepare the project plan 6. Skills / training requirements (technical and financial). 7. Current bank account details. 8. The value of your investment in the project 9. Whether help is needed to raise money in the margins 10. Any previous business experience 11. Depending on the response, borrowers are classified as a qualified borrower or a qualified borrower. 3.Loan Ready - In the event that the borrower does not require collateral support, the loan application process at the selected bank can be done via the Stand-Up India portal (www.standupmitra.in). At this stage an application number will be created and details about

  6. the borrower allocated to the bank concerned, LDM (sent to each region) and the NABARD / SIDBI linked office. The SIDBI and NABARD offices will be called Stand-Up Connect Centers (SUCC). The loan application will now be generated and tracked via the portal. 4.Trained borrower - In cases where the borrower indicates the need for a mortgage, registration as a Trainee Trainer on Stand-Up India (www.standupmitra.in will link the borrower with the LDM of the affected region and the relevant SIDBI / NABARD office. SIDBI and NABARD as Stand-Up India Connect institutions will then arrange for the support of qualified borrowers as requested by one of the following methods: Financial training - financial institutions (FLCs) Skills - Skills Centers (Vocational Training Centers - VTPs / Other Centers -CO) EDPs - MSME DIs / Regional Industrial Institutions (DICs) / Rural Self Employment Training Institutes (RSETIs) For shed shed - DICs Marital finance - offices related to marital finance schemes e.g. State SC Finance Corporation, Women’s Development Corporation, State Khadi & Village Industries Board (KVIB), MSME-DIs etc. Advisory support for experienced entrepreneurs - DICCI, Women's Business Organizations, Trade Unions Reliable, well-established NGOs can also be used to extend support support. Service connection - Service provider offices For DPRs - Project profiles are available through SIDBI / NABARD / DICs At any time, even if a loan is approved, any borrower can access Stand-Up Connect Centers services. LDM will monitor the process and work with local SIDBI and NABARD offices to resolve problems and reduce issues. Depending on the progress made in each case and the implementation of the prima facie, LDM will strengthen the affected bank branch in the event that it may arise. Once this has been done, SIDBI / NABARD will meet with the relevant bank officials for further follow-up. These organizations will also work with other participating organizations such as Dalit Indian Chambers of Commerce and Industry (DICCI), Women’s Entrepreneur Associations etc. Once the handshake requirements have been met sufficiently to the satisfaction of LDM and a qualified borrower, a loan application will be submitted via the portal. Conclusion:-

  7. This campaign is a good start to the startup industry in India. But the implementation of the schemes was inappropriate. Progress made over time will bring the industry to its goal.

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