Standup India Loan Scheme (Toll-Free helpline Contact Number, Email, Official Website) – Standup India Loan Scheme provides financial aid to SC/ST and women to promote entrepreneurship and employment in the country. This Scheme was launched by Prime Minister Narendra Modi on 5 April 2016. The financial aid will be provided to set up and grow businesses to SC/ST and women in need. The initiative will also encourage young minds to come up with innovative ideas and create job opportunities in the country. If you want to know more about this scheme then visit their website.
Eligibility for this scheme:
- The member of SC/ST as well as, OBC Communities can apply for this scheme. Women especially Widows can also apply for this.
- The Private/LLPor Partnership firm as well as, Company can apply for this scheme.
- The age of the company/firm should not be more than 5 years.
- A company dealing with commercial goods or innovating consumer products with approval from DIPP (Department of Industrial Policy & Promotion) will only be eligible for the loan.
- The annual turnover of the company should not exceed Rs. 25 Crore.
- The company should also produce few more letters/documents at the time of application.
Features of this Scheme:
- The standUp India initiative aims to support 2.5 lakh Women and Stand-Up entrepreneurs to set up and grow their businesses.
- The government has set a target sanction 2.5 lakh loans in a time frame of 36 months.
- The scheme will provide 100% relaxation in income tax for startups for first 3 years.
- The loan application process and licensing process is to be automated for quick actions and faster approval.
- The government will launch dedicated website and application to help interested candidates.
- Financial aid amount for the startups will vary between Rs. 10 Lakh to 1 Crore.
- 80% rebate on the patent application fee will be refunded to the the entrepreneurs.
- The exit process only takes 90 days to wind up the entire process.
Helpline Number: 011 40540722.
Toll-Free Number: 1800 180 1111
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