Call for Business ProposalsPosted on: January 31st, 2018
Loden Foundation is pleased to invite Business Proposals from the aspiring Bhutanese entrepreneurs. The programme shall support a wide range of entrepreneurial ventures that are innovative, viable and has the capacity to scale up and generate employment. Businesses that are outside of Thimphu, innovative, sustainable and have potential to scale up and generate employment are encouraged.
A. Evaluation Process
The business proposals shall be evaluated by an independent panel of judges comprised of international and local business experts. About one-fourth of the applications will be shortlisted for interviews towards the end of March. The final interview of the shortlisted applicants will take place in the Loden office in Thimphu towards the end of April.
B. Loan Scheme and Payment Procedures
Selected ventures will be offered an interest-free loan of up to Nu. 1.5 million repayable within three years time. Loan will be disbursed soon after the final results are announced upon fulfilling necessary prerequisites. The selected applicants will be asked to sign a contract agreement with the Loden Foundation and also present a guarantor. The fund is normally paid directly to the source of the equipment or such other services for which the fund is used. If it is paid directly to the bank account of the business, it will be disbursed in two tranches and the second tranche of the loan shall be made upon the receipt of the proper use of money received in the first tranche and with positive recommendation from the project monitoring team from Loden.
C. Mentoring Support
Mentoring support shall be provided to the selected entrepreneurs to support the progress of the enterprise and the appropriate use of the funds. Once the business is started, the entrepreneurs shall submit a detailed written report to Loden Office every six months. The entrepreneurs are normally given a grace period of six months and required to pay back the whole amount of loan within three months time.
D. Submission Procedures
The interested applicants must submit:
1. A business plan (not more than 15 pages)
2. Curriculum Vitae
3. Personal statement of explaining why you are interested in your chosen business
4. If you are re-applying with the same idea, you must explicitly mention what is new in your business plan
Interested participants must send an electronic copy of your documents to firstname.lastname@example.org and print copy to the Loden Foundation, Post box 131, Thimphu by 5PM on or before 15 March, 2018.