Nepal govt to provide loan up to 2.5 mn to startups

Kathmandu: The Ministry of Industry, Commerce and Supply has issued Startup Enterprise Loan Fund Procedure, 2079.

According to the procedure, any startup entrepreneur can get a loan of up to 2.5 million rupees without collateral at an interest rate of three percent.

The company can get the loan by pledging its own business.

The Ministry will provide the amount of the fund to Nepal Rastra Bank and the companies will be able to get the loan amount from the commercial bank designated by the National Bank.

As mentioned in the procedure, only startup businesses with a paid-up capital of up to 50 lakhs will be eligible to apply for this loan.