Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has opened applications for startup business loans, calling for project proposals from aspiring entrepreneurs seeking financial support to launch or expand innovative ventures.
The Industrial Business Development Institute issued a public notice on Wednesday, inviting applications under the Startup Enterprise Loan Operation Procedure. The decision follows the proposal of Minister for Industry, Commerce and Supplies Anil Kumar Sinha, aimed at promoting new business creation and supporting youth-led entrepreneurship.
Applicants have been given 21 days to submit their proposals. To qualify, entrepreneurs must meet the criteria outlined in Section 4 of the loan procedure, which includes having relevant knowledge, creative business ideas, and the skills and capability required to execute the proposed project. The government has emphasized that the loan is intended for startups introducing innovative products, services, or business models rather than for regular commercial expansion.
Project proposals must be prepared in the prescribed format and can be submitted online through the official portal of the Industrial Business Development Institute. Officials said the digital submission system is intended to ensure transparency and easier access for applicants across the country.
Under the revised procedure, each eligible startup entrepreneur may obtain up to Rs 2 million (20 lakh) as a loan in the current fiscal year. Previously, the government provided startup loans of up to Rs 2.5 million (25 lakh) at a 3% interest rate, but the revised scheme has adjusted the maximum loan ceiling.
The government aims to strengthen the startup ecosystem by improving access to affordable finance, particularly for youth and first-time business founders, as part of broader efforts to stimulate innovation, job creation, and enterprise development in Nepal.
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