Stand Up India Scheme Eligibility Criteria, Documents Required & Application Form
Stand Up India scheme is to facilitate bank loans between 10 Lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. Following are the Stand Up India scheme eligibility criteria.
Stand Up India Eligibility Criteria
- SC/ST and /or Women entrepreneur, above 18 years of age. This is the basic Stand up India scheme eligibility criteria.
- Loans under the scheme are available for only green field project. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sectors
- In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur
- Borrower should not be any default to nay bank/ financial institution
Documents Required for Stand Up India Scheme
- Proof of Identity: Voter’s ID Card / Passport / Driving License / PAN Card / Signature identification from present bankers of proprietor, partner of director ( if a company)
- Proof of residence: Recent telephone bills, electricity bill, property tax receipt /Passport / voter’s ID Card of Proprietor, partner of Director (if a company)
- Proof of business Address
- Applicant should not be defaulter in any Bank/F.I.
- Memorandum and articles of association of the Company / Partnership Deed of partners etc
- Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
- Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable.
- SSI / MSME registration if applicable
- Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan
- Photocopies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities
- Documents to establish whether the applicant belongs to SC/ST Category, wherever applicable
- Certificate of incorporation from ROC to establish whether majority stake holding in the company is in the hands of a person who belongs to SC/ST/Woman category
For Cases with Exposure above Rs. 25 Lakhs
- Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken addresses of all offices and plants, shareholding pattern etc.
- Last three years balance sheets of the Associate / Group Companies (if any).
- Project report (for the proposed project if term funding is required) containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, capacity of utilization assumed, production, sales, projected profit and loss and balance sheets for the tenor of the loan, the details of labour, staff to be hired, basis of assumption of such financial details etc.
- Manufacturing process if applicable, major profile of executives in the company, any tie-ups, details about raw material used and their suppliers, details about the buyers, details about major-competitors and the company’s strength and weaknesses as compared to their competitors etc.
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