Start Up India Stand Up India

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Copyright@Biz2Credit 2015

Start Up IndiaStand Up India

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What is Stand Up India?

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Introduction

• Stand Up India Scheme is approved by Union Cabinet and launched by Honorable Prime Minister of India on 5th April, 2016 at Sector 62, Noida (U.P, India).

• The scheme promoted 2.5 lakh women, scheduled caste and scheduled tribes entrepreneurs through banks.

• The Scheme will act as a refinance window through SIDBI (Small Industries Development Bank of India) with INR 10,000 crore.

• It will provide loans to entrepreneurs belonging to the said three categories in the range of INR 10 lakh to INR 1 crore.

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Key Benefits

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A Composite Loan of INR 10 lakh to upto 1 crore

•The amount is inclusive of working capital for entrepreneurs belonging to any of the 3 categories, i.e. women, SC or ST.

•It will help them to set up their business without worrying about arranging seed capital. The amount can be repaid within 7 years, which is quite a comfortable tenure.

Benefit #1

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Withdrawal of Working capital through debit card

•Now, withdraw working capital using debit card and start your business as early as you can.

•This would help to give a boost to the small businesses & MSME community.

Benefit #2

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Development of borrower's credit history

•Obtaining these loans can also help in developing or improving your credit history if you are/have been in good repayment terms.

Benefit #3

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SIDBI to have a refinance window for entrepreneurs

•Small Industries Development Bank of India will be opening a refinance window for SMEs starting with the amount of INR 10,000 crore.

Benefit #4

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Credit guarantee fund of INR 5,000 crore to be created by NCGTC

•There will be more chances to get approval for the loan and obtain the same to start your business.

Benefit #5

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Comprehensive support for borrowers

•The borrowers will not just receive funds, but will also get the support in pre and operational phases of loan procurement, as well as for marketing of the business.

Benefit #6

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Web portal & mobile app

•Entrepreneurs can easily download application forms for business loans; do online registration; and self certification through web portal and mobile app.

Benefit #7

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Relaxation fort SMEs that are under 3 years

•No inspection of start-ups and income tax relaxation during the first 3 years of starting the business.

Benefit #8

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Application fee to be reduced

•80% reduction in application fee for SME patent applications.

Benefit #9

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Easier exit policies

•For businesses that are not performing well, there will be easier exit policies.

Benefit #10

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Upgradation for rickshaw pullers

•Upgradation of rickshaw-pullers into E-rickshaw owners. •About 5100 E-Rickshaws was distributed by the Bhartiya Micro Credit during the launch event. •Three times increment in their income. •Training for them and certification will be provided by NSDC on completion of training.

Benefit #11

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Copyright@Biz2Credit

2015

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Start Up India Stand Up India

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