'Start-Up Enterprises Loan Operation Procedure' in effect
The enterprise would be able to get a concessional loan if it was not registered before 10 years, while the annual turnover of the enterprise should not exceed more than Rs. 150 million in any fiscal year since its establishment.
Kathmandu: The Ministry of Industry, Commerce and Supply has approved the 'Start-Up Enterprises Loan Operation Procedure, 2081' and brought it into effect.
Sharing the activities to provide concessional loans would be made simple, clear, and transparent encouraging the entrepreneurs with the latest knowledge, thoughts, skills, and capacity to involve them in start-up enterprises, the ministry approved the procedure on August 14.
As per the procedure, a start-up loan can be obtained at three percent interest considering enterprises and projects as collateral. The procedure has set certain criteria for the start-up business.
The enterprise would be able to get a concessional loan if it was not registered before 10 years, while the annual turnover of the enterprise should not exceed more than Rs. 150 million in any fiscal year since its establishment.
The enterprises registered as private firms, joint ventures, companies, and cooperative institutions in the concerned bodies would also be entitled to concessional loans. One or more than one bank would be assigned to provide the concessional loan and its installment should be deposited in the bank opening a separate bank account.
Industrial Enterprise Development Foundation would implement the start-up loan scheme. The period of such a loan would be a maximum of five years.
However, entrepreneurs should themselves make insurance for the enterprise or project. According to the Procedure, the bank providing a start-up concessional loan can impose a maximum 0.1 per cent service charge for the subsidized loan.
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