A scheme by Ministry of Finance for financing SC/ST and/or Women Entrepreneurs by facilitating bank loans for setting up a greenfield project enterprise in manufacturing services, trading sector etc. The objective of this scheme is to facilitate bank loans between Rs. 10 lakh and Rs. 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 enterprise. This enterprise may be in manufacturing, services or the 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.
Benefits
- Facilitation of composite loan (inclusive of term loan and working capital) between ₹10 Lakh and ₹100 Lakh. Rupay debit card to be issued for convenience of the borrower.
- The web portal by SIDBI provides handholding support through a network of agencies engaged in training, skill development, mentoring, project report preparation, application filling, work shed / utility support services, subsidy schemes etc.
Eligibility
- The applicant must be an Entrepreneur.
- If the applicant is a male, he must be from SC / ST category.
- The age of the applicant must be at least 18 years.
- The applicant must not be in default to any bank/financial institution.