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The objective of Stand-Up India scheme is to facilitate bank loans between ₹ 10 lakh and ₹ 1 crore to Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and Woman borrower for setting up a greenfield enterprise (first time venture), in manufacturing, services or trading sector. 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.
Bank finance not to exceed 75% of total cost.
Besides primary security, the loan may be secured by collateral security or guarantee from Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL), as defined under respective product guideline/policy.
- Commercial Vehicle Loan: Loan for vehicles for starting Transport/Logistics business
- Construction Equipment Loan: Loan for equipment for starting Construction/ Equipment rental business
- Car Loan: Loan for vehicles for setting up Taxi/Car rental services
- Business Installment Loan (BIL): Term loan for new business for buying plant and machinery, furnishing offices etc.
- Loan Against Property: Term Loan against property for new business for buying plant and machinery, furnishing offices etc.
- Business Loans Group (BLG) and Rural Business Credit (RBC): Overdraft facility/Cash Credit facility/Term Loan for new venture
- Medical Equipment Loan: Loan for medical equipment for setting up new ventures (Loan amount between ₹ 10 to 25 lakh)
- Office Equipment Loan: Loan for office equipment for setting up new ventures (Loan amount between ₹ 10 to 25 lakh)
For more details or to apply for Stand-Up India loan, please visit your nearest ICICI Bank branch.