Desiring to start a business but don't have enough funds? Don't worry as the Indian Government has something in store for you! The government has introduced a scheme that will enable you to collect funds for setting up your business. It is called "Stand Up India".
Stand Up India scheme was launched by Prime Minister, Narendra Modi on 5th April 2016. Stand Up India is a loan scheme which provides a loan from Rs. 10 Lakh to Rs. 1 Crore to the scheduled caste, scheduled tribe, or a woman from the bank for setting up a new project or business. This scheme is backed up by the Department of Financial Service (DFS), Ministry of Finance, Government of India. It aims at promoting entrepreneurship among women and scheduled caste and tribes. A key point which you should always remember while joining this scheme is that the business you are seeking to build should be related to the trading area. In case of non - personal business, a scheduled caste or scheduled tribe or woman shall have a 51% share in the business.
While providing financial assistance, the entrepreneurs will obtain a Rupay Debit Card for setting up their business, a refund of money or capital. This scheme will help to grow the economy of the country and provide an opportunity for the people to set up their business.
Seeking for a loan to start your own business, but it's not getting approval? Stand Up India scheme will help you in this case by providing a loan up to Rs. 1 Crore.