Standup India Scheme (SUI)
Purpose: To meet 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.
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 lacs
- Maximum loan amount: Rs. 1 crore
Pricing: Pricing Linked to MCLR (MCLR is subject to change, as per Govt /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 Banks/RBI guidelines