The government has introduced the “Startup Loan Operation Procedure 2082” to support innovative and creative ideas in technology and business by helping them grow into successful startup ventures.
Following this decision, the Industrial Business Development Institution has called for project proposals from interested entrepreneurs who meet the eligibility criteria. The notice was issued on Wednesday, inviting applications under the new startup loan procedure.
Loan Details
According to the Ministry of Industry, Commerce, and Supplies, qualified startups can receive collateral-free loans ranging from Rs. 5 lakh to Rs. 20 lakh at an annual interest rate of 3 percent.
Applications must be submitted within 21 days from Kartik 19, 2082, as mentioned in the official call for proposals. Applicants must fulfill the qualifications listed in Section 4 of the procedure.
Eligible Sectors
The startup loan will be available for entrepreneurs working in the following areas:
- Agriculture, forestry, and production-based sectors
- Information technology and digital services
- Infrastructure and transportation
- Social services and tourism
- Traditional industries and local resource-based businesses
According to Executive Director Umesh Kumar Gupta, certain standards must be met to qualify for the loan.
Eligibility Criteria
- The applicant must be registered as a private firm, partnership firm, company, or cooperative under the relevant authority.
- The business must have innovative and creative ideas, use technology, and show high growth potential.
- The registered enterprise should be less than 10 years old.
- The company’s annual turnover should not exceed Rs. 15 crore in any fiscal year after registration.
- The business must be new and independent, not a split or continuation of an existing enterprise.
- Applicants must submit a complete proposal form along with the required documents.
Businesses that import and sell foreign goods or services without local production, or those blacklisted under existing laws, will not be considered startup enterprises.
Additionally, companies registered after the loan announcement date or registered as holding or investment companies under the Industrial Business Act 2076 will not be eligible.
Required Documents
Applicants must submit the following documents along with their proposal:
- Copy of registration and renewal certificates of the business
- Copy of Permanent Account Number (PAN) and tax clearance certificate for the last fiscal year
- Copy of the audited financial report for the last fiscal year
- Copy of the citizenship certificate of the company’s authorized representative
- A self-declaration confirming that the applicant has not received any concessional or startup loans from the Government of Nepal, provincial, or local levels
Only one proposal can be submitted by a single entrepreneur or household member.
If any applicant is found to have taken a concessional or startup loan by providing false information, the loan approval will be canceled at any time, as per the procedure.
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