Government Opens Applications for Startup Business Loans

Kathmandu, November 5 

The government has officially invited project proposals from aspiring entrepreneurs seeking startup loans.

The Industrial Enterprise Development Institute (IEDI) issued a notice on Wednesday, calling on eligible applicants to submit proposals under the “Startup Enterprise Loan Operation Procedure.” This initiative was launched following the recommendation of Minister for Industry, Commerce, and Supplies, Anil Kumar Sinha.

Entrepreneurs have 21 days to submit their project proposals. To qualify, applicants must meet the eligibility requirements outlined in Section 4 of the loan procedure. They should also demonstrate updated knowledge, creativity, and technical skills relevant to their proposed business.

Project proposals must be prepared in the prescribed format and can be submitted online.

Under the revised loan procedure, individual startup founders are eligible for a maximum loan of NPR 2 million in the current fiscal year. Previously, the government offered loans of up to NPR 2.5 million at an interest rate of 3%.

The government aims to encourage innovation and entrepreneurship through this program, supporting new ventures that can contribute to Nepal’s economic growth.