KATHMANDU, Nov 12: A total of 610 start ups have applied for concessional loans in the first six days of the government’s call for applications.
According to the Ministry of Industry, Commerce and Supplies, so far 592 applicants have forwarded their proposals via online platform, while other 18 applicants have submitted their plans physically. Last Wednesday, the ministry invited interested firms to submit applications within 21 days.
Govt endorses work plan to expedite concessional loans for star...
The government has implemented a 39-point “Immediate Reform Work Plan for Promotion of Effective Public Service 2025,” which includes several measures to accelerate startup financing and streamline related processes. According to the plan, proposals under the Startup Loan Facilitation Scheme have sought to offer collateral-free loans at a concessional interest rate of three percent.
The previous government had allocated Rs 730 million in the annual budget to provide concessional loans for startup entrepreneurs, aimed at supporting skill development, business expansion, marketing, and value-chain enhancement. In the current fiscal year, the government has sought to provide the concessional loans to 400 start ups.
In fiscal year 2023/24, the government had allocated Rs 250 million for this purpose, while a total of 165 start ups were provided with the targeted fund. In the last fiscal year, 600 such projects were allocated with a fund of Rs 1 billion.
