UCO Start-Up Scheme
A programme by UCO Bank
A UCO Bank term loan or cash credit for DPIIT-recognised startups, with the facility covered under the Credit Guarantee Scheme for Startups.
At a glance
| Best for | DPIIT-recognised startups with a stable revenue stream that can take a bank loan. |
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About UCO Start-Up Scheme
UCO Bank lends to startups under its UCO Start-Up Scheme. The facility is covered under the Credit Guarantee Scheme for Startups run by the National Credit Guarantee Trustee Company, so part of the bank's risk is guaranteed.
What you get
- A bank loan: cash credit, term loan, letter of credit or bank guarantee.
- Guarantee cover from the national scheme, capped per borrower; the bank still takes primary security.
Who can apply
- Startups registered as MSMEs with a Udyam Registration Certificate and recognised by DPIIT.
- Startups up to ten years from incorporation, with turnover within the scheme limit.
- Partnership firms, limited liability partnerships and private limited companies.
How selection works: the bank checks eligibility and a stable revenue stream over the last 12 months, then appraises the loan on its own credit policy.
How to apply: contact the MSME Department at UCO Bank head office in Kolkata (msme.calcutta@ucobank.co.in) or your nearest branch, and ask for the UCO Start-Up Scheme.