April 24: A substantial number of proposals has been submitted for concessional loans announced by the government to help start-up enterprises. In the last three days for submission of proposals, a significant number of applications have been received for start-up enterprise loans. A total of 382 proposals have been submitted to avail this loan.

The Department of Industry had given 21 days’ time to submit the project proposals for start-up loan. Within 18 days after issuing the notice, only 84 proposals were received. Ramila Bhandari, director and information officer of the department, said that 298 applications were received in the next three. According to her, a total of 382 start-ups have applied for this loan.

In the first phase of the program, the government is planning to provide start-up enterprise loans to 100 people.

"The department is currently evaluating and analyzing the project proposals," she said, adding, "Sectoral analysis has not been done yet." The department has announced that it will provide such loans for start-up enterprises in 14 different regions.

Preliminary analysis has shown that more projects have come in agriculture and software. The Department of Industries had issued a 21-day notice to submit projects for start-up enterprise loans on March 30. The deadline for submission of project proposals was till April 19.

The department asked for proposals to help those who want to start such a venture after the government introduced the 'Start-up Business Loan Disbursement Procedure-2079'.

According to the procedure, such loans will be available for start-up ventures in 14 different areas. Loans will be available for start-up enterprises in the fields of agriculture and livestock, forestry (herbs, forest produce), tourism promotion and entertainment and hospitality, science, technology, communication and information technology, and human health services.

Similarly, projects related to education, safe transportation services, infrastructure construction, automobiles, traditional technology, mining and mineral research and development, helping to make household or daily life simple, convenient and safe, and projects related to food production and processing and waste management and environment can avail such loans.

The procedure allows granting a maximum loan of Rs 2.5 million by keeping the project mortgage. This time, the department plans to provide such loans to a maximum of 100 people. According to the procedure, the loan will be available in two installments. Fifty percent loan will be provided in the first installment and the second installment after six months.