Women entrepreneurs can get a loan of Rs 1 crore with this govt scheme

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Stand-Up India

Stand-Up India is a government scheme that offers financial support to businessmen who belong to SC/ST and women entrepreneurs who are above the age of 18. Image credits: Freepik

The objective

The purpose of this initiative is to facilitate bank loans to at least one SC/ST borrower and at least one woman borrower per branch. Image credits: Freepik

Greenfield projects

To set up Greenfield projects, the financial support begins from Rs 10 lakh. The loans are offered for fields such as manufacturing services and agriculture etc. Image credits: freepik

The borrower must not be a defaulter

The loans are offered from Rs 10 lakh to Rs 1 crore. The borrower must fulfil the conditions of paying back the amount within 7 years with interest. Image credits: Getty

Interest rate

The loans are provided on minimal interest rate. The interest rates are determined by Stand-Up India Authority, banks, NBFCs, and RBI. Image credits: our own

GST and service tax is levied on the loan

For a loan amount of Rs 10 lakh, the bank provides the borrower a Rupay debit card. For amounts exceeding Rs 10 lakh, the borrowers are given a cash credit limit. Image credits: Getty

To apply for the Stand-Up India Scheme

Visit the official website at www.standupmitra.in. Read the documents carefully and complete your registration by providing necessary information. Image credits: Getty Find Next One