Spring 2019: Call for Business Proposals
The Loden Foundation is pleased to Call for Business Proposals from aspiring Bhutanese entrepreneurs for interest-free and collateral-free capital seed money up to Nu. 1.5 million. The programme shall support a wide range of entrepreneurial ventures that are innovative, viable and has the capacity to scale up and generate employment in Bhutan.
Selection Process: An independent panel of judges comprising of both international and local business experts will evaluate the business proposals. About one-fourth of the applications will be shortlisted for interviews and the final interview of the shortlisted applicants will take place in the Loden office in Thimphu. The dates for interview will be communicated to the shortlisted business proposals.
Mentoring Support: Mentoring support shall be provided to the selected entrepreneurs to support the progress of the business and provide guidance in necessary areas related to business. Once the business operational, 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 times.
Loan Scheme and Repayment Procedure: Selected ventures will be offered an interest and collateral free loan of up to Nu.1.5 million repayable within three years time after the grace period. Loan will be disbursed within two months 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.
The interested applicants must submit the following documents:
- A simple business proposal (not exceeding 15 pages) GUIDELINE
- Curriculum Vitae (CV)
- Personal statement explaining why you are interested in the chosen business and what skills and knowledge you possess
- Duly filled ‘Business Plan Submission’ form available HERE
- CIB report of the applicant and spouse, if married, from the Credit Information Bureau of Bhutan. For further details, you may visit www.cib.bt
NOTE: If you are re-applying with the same idea, you must explicitly mention what is new in your business plan.
Interested applicants must submit the complete set of documents in printed copies at the Loden Foundation office in Thimphu as well as email an electronic copy of complete set of documents in a single PDF file to firstname.lastname@example.org. If you are outside of Thimphu, the documents may also be sent via post to the Loden Foundation, Post box 131, Thimphu.
Applications that do not reach the Loden Foundation office or the Loden Foundation post box before 5:00 pm on 28 March 2019 will not be considered. Only shortlisted candidates will be contacted for the interview rounds. For any further information, you may contact Mr. Lhakpa, Programme Officer, at office phone 7719-5588 or email at email@example.com during office hours.
Click Frequently Asked Question for additional information.