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Organisation : Bank of Maharashtra
Facility : Stand-Up India Scheme

Details : http://bankofmaharashtra.in/Stand-Up-India-Scheme.asp
Loan Application Format : http://www.statusin.in/uploads/22203-Application-format.pdf
Website : http://www.bankofmaharashtra.in/

Stand-Up India Scheme :

Eligibility :
** SC/ST and/or woman entrepreneurs, above 18 years of age.
** Loans under the scheme is 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.

Related : Bank of Maharashtra Capital Gain Account Scheme : www.statusin.in/22199.html

** 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.

Nature of Loan :
Composite loan (inclusive of term loan and working capital) between Rs10 lakh and up to Rs100 lakh.

Interest Rate :
For loan of Rs 10.00 lakh : @ MCLR
For loans above Rs 10.00 lakh up to Rs 100.00 lakh : As per Risk Based pricing for Micro & Small enterprises.

Security :
Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL).

Repayment :
The loan is repayable in ‘seven’ years with a maximum moratorium period of 18 months.

Working Capital :
Need based working capital be sanctioned by way of Cash Credit limit. Rupay Debit Card is to be issued for convenience of the borrower.

Margin Money :
The Scheme envisages 25% margin money which can be provided in convergence with eligible Central / State schemes.

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CHECK LIST :
Proof of Identity:
Voter’s ID Card / Passport / Driving License / PAN Card / Signature identification from present bankers of proprietor, partner of director (if a company)

Proof of residence:
Recent telephone bills, electricity bill, property tax receipt /Passport / voter’s ID Card of Proprietor, partner of Director (if a company)

** Proof of business Address
** Applicant should not be defaulter in any Bank/F.I.
** Memorandum and articles of association of the Company / Partnership Deed of partners etc.
** Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
** Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable.
** SSI / MSME registration if applicable.
** Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan –
** Photocopies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities.
** Documents to establish whether the applicant belongs to SC/ST Category, wherever applicable.
** Certificate of incorporation from ROC to establish whether majority stake holding in the company is in the hands of a person who belongs to SC/ST/Woman category.

For Cases With Exposure above Rs 25.00 Lakhs :
** Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken addresses of all offices and plants, shareholding pattern etc.
** Last three years balance sheets of the Associate / Group Companies (if any).

** Project report (for the proposed project if term funding is required) containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, capacity of utilization assumed, production, sales, projected profit and loss and balance sheets for the tenor of the loan, the details of labour, staff to be hired, basis of assumption of such financial details etc.

** Manufacturing process if applicable, major profile of executives in the company, any tie-ups, details about raw material used and their suppliers, details about the buyers, details about major-competitors and the company’s strength and weaknesses as compared to their competitors etc.
(The check list is only indicative and not exhaustive and depending upon the local requirements at different places addition could be made as per (necessity)

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