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Union Bank of India

Stand Up India

Bank Union Bank of India
Scheme Stand Up India
Description The objective of the Stand-Up India scheme is to facilitate bank loans between  10 lakh and  1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a Greenfield Project. This enterprise may be in manufacturing, services or the trading sector.
Eligibility
  • SC/ST and/or woman entrepreneurs, above 18 years of age.
  • Loans under the scheme are available for only green field project. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
  • Borrower should not be in default to any bank/financial institution

 

Rate of Interest & Repayment The rate of interest would be as per the extant interest rate circular of our Bank.

The loan is repayable in 7 years with a maximum moratorium period of 18 months.

Collateral Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) wherever applicable.
Composite /loan Limit  Composite loan (inclusive of term loan and working capital) between 10 lakh and upto 100 lakh
Margin The Scheme envisages 25% margin money which can be provided in convergence with eligible Central / State schemes. While such schemes can be drawn upon for availing admissible subsidies or for meeting margin money requirements, in all cases, the borrower shall be required to bring in minimum of 10% of the project cost as own contribution
Detail Link https://www.unionbankofindia.co.in/english/stand-up-india.aspx
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