Financed Nine Projects through Loden-DHI FundPosted on: April 10th, 2016
Through the second round of Loden-DHI Fund, Loden has selected nine new entrepreneurs taking the total number of Loden entrepreneurs at an amazing 106! A total of Nu. 6.5 million was invested to finance nine new projects. The loan is completely free of interest and no collateral requirement too. The loan has to be paid back within three years time after the grace period of 6 months.
The Director (Pro Bono) of the Loden Entrepreneurship Programme, Gerard Tardy said, “For the 9th round of selection the quality of business plans continued to improve and the competition became even more intensive. We received a good number of quality proposals and were only able to support a few”.
With the increase in number of entrepreneurs, Loden hopes to contribute to the national goal of reducing youth unemployment, rural-urban migration by making young adults independent and responsible thereby contributing to nation’s economy in whatever small or big ways.
Among the selected projects were Online Ventures, KIWI Plantation, Textile Design, Environmental Service Firm, Martial Arts Institute and Wooden Toys for Children. Today Loden has sixty-three projects outside of Thimphu out of which twenty-eight of them are women. The next round for Loden call for proposals will begin from May-July, 2016.