The major stake has to be held by a women entrepreneur or SC/ST. In my case, majpr shareholding is by a women entrepreneur.
You can look into union bank scheme for startup on startup website. Click the link on bank initiatives and go to union bank scheme. You should be eligible under union bank startup scheme where loan upper limit is 5 crores.
I also tried under that scheme but bankers in Hyderabad denied to fund as their risk was high without collateral. I’m cgtms, bank risk is marginally reduces as they in turn cover their 75% risk with a consortium of banks.
Hope the above information is helpful to you.
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