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CGSSI Scheme

Under Credit Guarantee Scheme for Stand Up India Bank facilitates 10 lacs to 1Crore for SC, ST & women entrepreneurs to setup greenfield Projects.
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There is a huge scope & potential for Scheduled Caste (SC), Scheduled Tribe (ST) & Women entrepreneurs to explore wider by setting up enterprises at their own. Through their innovative ideas implement new things in market -able to create job opportunities & eventually increase economic development. 

What is Stand-up India Scheme?  

To ease challenges Government of India initiated Credit Guarantee Scheme for Stand Up India (CGSSI) in 2016. The aim of this credit linked scheme is to boost entrepreneurship by providing financial assistance ranging from 10 lacs to 1 Cr especially to set up greenfield projects in trading, manufacturing & service sectors. 

Key Features - 

  • Each bank branch has to facilitate bank loans to at least 2 Entrepreneurial projects. 
  • A Rupay debit card is provided to withdraw credit. 
  • Credit history of the applicant shall be maintained by bank to ensure money is used for business purposes only. 
  • Margin money compensate up to 25% to get ease finance. 
  • Separate web portal created to assist customers for online registration. 

Stand-up India Scheme Eligibility Criteria   

Stand-up India loan has certain eligibility criteria that need to be checked before application. Kindly go through the following points: -   

  • Applicant must be a resident of India.  
  • Applicant minimum age should be above 18 years.  
  • Individuals/Private limited companies/sole proprietor firm/partnership firm or public limited companies.   
  • The turnover of the firm should not exceed above 25 Crores. 
  • Only greenfield projects in manufacturing, trading & service sectors are funded. 
  • The company must be dealing with any commercial or innovative consumer goods & department for promotion of industry is required. 

 Also Read:-ICICI Home Loan

Documents Required for Stand-up India Scheme 

Credit Guarantee Scheme for Stand Up India (CGSSI) requires the following documents to be submitted at the time of loan application.   

  1. Proof of Identity (Any one of the following 

  • Aadhar Card  
  • Passport  
  • Voter ID Card  
  • PAN Card  
  • Driving License  
  1. Proof of Residence (Any one of the following 

  • Electricity Bills  
  • Water Bills  
  • Ration Card  
  • Lease/Rent/Property own agreement  
  1. Certified financial statement of last 3 years  
  2. Company incorporation certificate  
  3. Business address proof  
  4. Latest Bank Statement or Passbook  
  5. MOA & AOA of company  
  6. Assets & liability statement of promoter  
  7. SC/ST or women entrepreneurs belonging document   
  8. Audited financial sheet, certificate of practice, Sales Tax Certificate, etc . 

How to apply Credit Guarantee Scheme for Stand Up India?   

Stand Up India Scheme has the flexibility of application, one can apply directly SIBDI branch & request for a loan application nor sitting anywhere can access the application just by visiting SIDBI standup India portal & filling the application online, follow below step for a hassle-free process. 

Step 1: - There are almost 56 banks providing credit linked scheme, wherein you have to select your preferred bank & visit stand up india official site. 

Step 2: - Now, start filling the application by answering all the questions which include personal & business details such as nature of business & business plan along with required loan amount are the keen points to be answered well. 

Step 3: - Lenders will check past business performance therefore existing business details also need to be mentioned in respective columns. 

Step 4: - Once above points are filled, recheck them twice to ensure no empty box is left or wrong information filled.  

Step 5: - Finally, lenders will go through your application & if your application match the criteria, They will contact you for further formalities. 

 Also Read:-SBI Loan Against Property 

Credit Guarantee Scheme FAQ  

What is Credit Guarantee Scheme for Stand up India?  

The Government of India launched credit guarantee scheme for Stand up India under Mudra loan to promote SC, ST & women entrepreneurs to set up greenfield projects in manufacturing, trading & service sectors. 

How can I apply for Credit Guarantee Scheme for Stand up India?  

Borrowers can apply directly by visiting standup India portal online & register yourself to start a loan application, once filled recheck them & do a final submission, after reviewing by lenders if your application matches the criteria then only further formalities e place.  

Who are eligible for Credit Guarantee Scheme for Stand up India?  

The aim of this credit-linked subsidy scheme is to promote SC, ST & women entrepreneurs for greenfield projects in manufacturing, trading & services sectors. Therefore, borrowers who meet these criteria shall be proceeded for application. 

Can a women entrepreneur apply for Stand up India loan?  

Yes, Women entrepreneur with an ideal concept of business can apply for this credit linked subsidy scheme & get upto 1 Cr to startup enterprises.  

How much loan amount offered under Credit Guarantee Scheme for Standup India Loan?  

Under this scheme bank loans provided ranging between 10 lacs to 1 Crore for setting up greenfield projects. 

What documents required for Credit Guarantee Scheme for Standup India Loan? 

  • Dully Application form with 2 passport sized photographs 
  • KYC Documents 
  • Existing business documents like ROC, GST, MOA, AOA, Banking, Address proof & other similar documents. 
  • Greenfield projects business loan with a detailed project reports 
  • Special belonging proof of SC, ST.                    

Which bank provide Standup India Loan? 

Almost all government banks do funding for standup India scheme. 

What is the maximum time period given to repay Stand Up India Loan?  

Generally, banks provide credit guarantee scheme to borrowers  

with a flexible time period to repay loan amount upto 7 years. 

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