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Union Stand-Up India

1. Eligibility a. Scheduled Caste (SC) or Scheduled Tribe (ST) borrower or woman borrower, above 18 years of age, for setting up a Greenfield enterprise indulged in manufacturing, service or trading activity, Loans for enterprises in “Activities allied to Agriculture”.
b. In case of non-individual enterprises, at least 51% of the shareholding and controlling stake should be held by either a SC/ST or women Entrepreneur.
c. Women from all strata of the society are eligible under the scheme.
2. Purpose To promote entrepreneurship among SC/STs and Women entrepreneurs.
3. Quantum of Finance Rs. 10.00 lakhs to Rs. 100.00 lakhs
4. Working Capital WC limit generally to be sanctioned by way of CCH limit. However, WC limit upto Rs. 10.00 lakh can be sanctioned by way of overdraft facility subject to delegation of loaning power. Rupay Debit card to be issued for convenience of the borrower.
5. Margin The scheme envisages margin money of 15% of the project cost. However, subsidy provided by State / Central Govt may be treated as margin money subject to borrower bring in minimum of 10% of the project cost as own contribution.
6. Processing Charges As per the applicable guidelines
7. Interest Rate The rate of interest would be as per the extant interest rate circular of our Bank.
8. Facility Composite Loan
9. Security Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Scheme for Stand up India (CGSSI)
10. Repayment Term loan is repayable in 7 years including maximum moratorium period of 18 months.
11. Assessment a. The facility shall be extended in the form of composite loan i.e., Term loan to meet the requirement of assets such as Plant & Machinery or Working capital to meet the working capital expenses or Both.
b. A Rupay card will be issued to enable operation of the working capital component.

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