May 19: A total of 213 start-ups have been disqualified from receiving enterprise loans after failing to meet the eligibility criteria.

These start-ups were among the 382 applicants who had applied for loans in the initial phase.

The Department of Industry, in line with Clause 8 of the Start-up Enterprise Loan Fund Procedure, 2079, had called for applications for loans on March 30.

The Department has clarified that the disqualified start-ups did not meet the necessary requirements for the loans.

To be eligible for the scheme, start-ups must have a paid-up capital of no more than Rs 5 million, annual incomes below Rs 500,000, fixed assets (excluding real estate) not exceeding Rs 20 million, and a workforce consisting of no more than 10 employees.