Stand Up India Scheme/ Yojana for new entrepreneurs
Stand up India one of the most innovative yojana launched by Indian Prime Minister Mr. Modi recently in order to boost the entrepreneurship among the SC / ST talented persons and also to boost the presence of women in the entrepreneurs world.
Stand Up India:
Indian government in the leadership of Modi has decided to give the gift to the women and SC/ST entrepreneurs as the nation wise program called Stand Up India loan yojana as the initiative for the backward tribes and the schedule caste. This Stand Up India launched in order to provide financial support to the person or women who are intended to start business and from poor family especially from rural India.
Below listed table illustrate the basic things to be known about Stand up India Scheme
|All you need to know about Stand Up India
|The Back bone of Stand Up India
|Stand Up India grounded by DFS, literally known as Department of Finance Services, in order to boost greed field endeavors by SC/ST & Women Entrepreneurs across the nation.
|Target Assigned to Banks
|Under Stand Up India Scheme each and every bank branches are subjected to approve at least 2 projects. And it is expected within next 36 months about 2.5 lakh projects to be approved by banks across the nation.
|Support offered for loans obtained under Stand Up India Scheme
|In this stand up yojana, borrowers will get support at both pre-loan stage and during operational stage in order to boost their business familiarity in various platforms.
Stand Up India Key Features:
- As per the statement released by government official under stand up India yojana, it is estimated that around 2.5 Lakh people from SC / ST or women entrepreneurs will get benefited
- The simple application form has to be filled by applicant and to apply for licensing in order to avail this loan benefits under this stand up India yojana.
- The entrepreneurs are free from paying their income tax for the initial period of first 3 years for their business income under this yojana.
Stand Up India Eligibility Criteria:
- In order to avail the benefit under the Stand up India yojana the company of the applicant must be started within five years. And the loan applicant company has to be register as either Private limited or as a partnership company.
- The loan applicant’s firm or company should be functioning by keeping their business base as commercial one in order to avail loans under this yojana.
- The beneficiary must make sure that the company which works on innovative production must have patents rights. In order to do so, applicant carry on few paper works for applying loans under this stand up Indian yojana.
Stand Up India Loan & Process:
- The loan amount for the selected beneficiary would start from Rs. 10 Lakh to 1 crore. By the Loan amount would be decided by the providing bank members as per the start-ups.
- The entrepreneurs can able to register online using the website or the mobile app launched recently in April 2016. Similarly, self certification system would also be launched.
- The loan applicants have to fill the required data in the respective application form for availing loans under stand up India in order to be processed.
- The govt needs to produce their own plan of action to validate and process the application along with the necessary legal documents.
Stand Up India Documents:
- PAN card is a very important and required do
- cument at the time of applying for this Stand Up India
- It provides complete authentication of a person and makes a process very simple to validate and execute the loan application.
- Aadhar card is also necessary to be submitted as it is the certificate of the applicant’s citizenship.
- Along with these proofs, the applicants also need to submit some other documentation details to process the loan application.
Stand Up India Benefits:
- The main aim of this loan yojana is to give expertise and also encourage the new entrepreneurs so that to reduce the unemployment.
- If the applicants are the angel investor, then Stand up India loan yojana provides you the best platform to get professional advice.
- There is no any stress in repayment because everyone has 7 years of time to pay back your loan amount.