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Standup India Scheme (SUI)
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Overview
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Terms and Conditions
Standup India Scheme (SUI) Overview
The Standup India Scheme (SUI) is designed to meet the credit requirement of Scheduled Caste (SC) or Scheduled Tribe (ST) and at least one woman entrepreneur for setting up Greenfield projects under manufacturing, services or the trading sector.
Standup India Scheme (SUI) Terms and Conditions
Eligibility Criteria
- All loans more than Rs. 10 lakhs and up to Rs. 1 crore to SC/ST borrowers and women entrepreneurs for Greenfield projects only.
- In case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.
- Applicant should not be in default to any bank/financial institution.
Quantum of Loan
- Minimum loan amount: Rs. 10 lakhs
- Maximum loan amount: Rs. 1 crore
Pricing
Pricing linked to MCLR (MCLR is subject to change, as per Government/RBI guidelines, issued from time to time).
Security
Besides primary security, the loan may be secured by collateral security or any Credit Guarantee Scheme.
Other parameters like margin, repayment & processing fee will be as per Bank’s/RBI guidelines.
