Stand-Up India Scheme comes up with a lot of questions, especially for women entrepreneurs and SC/ST entrepreneurs setting up a new (greenfield) business dealing with it for the first time. Here are clear answers to what we're asked most often.
Does this scheme cover expansion of an existing business?
No, it's specifically meant for setting up a new, greenfield enterprise.
What loan amount range does the scheme typically cover?
It covers a defined range intended for setting up the greenfield venture, varying by project cost.
Is collateral required?
Terms vary, but the scheme structure is designed to ease access to credit for first-time entrepreneurs in the target categories.
Can the loan be used for any type of business?
Manufacturing, trading, or services businesses can generally apply, subject to scheme conditions.
Still Have Questions?
Every business situation is a little different, and Stand-Up India Scheme is no exception. If your case doesn't fit neatly into the questions above, it's worth getting a second opinion before proceeding.
What You'll Typically Need
- Proof of eligibility category (woman entrepreneur or SC/ST entrepreneur)
- Business plan for the proposed greenfield venture
- Promoter's contribution toward the project cost
- KYC documents for the applicant
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