The Loden Foundation and its partner, UNICEF Bhutan, are pleased to call for business proposals ONLY from participants who have secured top 3 positions during the Loden SEED training held at the Youth Friendly Integrated Service Centers in 2021. This funding window is opened in partnership with UNICEF Bhutan and the Youth Center Division at the Department of Youth and Sports under the Ministry of Education.
Funds will be released as interest and collateral free loan
Standard Selection Process: An independent panel of judges comprising of both national and international business experts will evaluate the business proposals and the applicants. Shortlisted applications will then be called for an interview in September at the Loden office in Thimphu or interviews will be conducted virtually. The dates remain subject to change, however, prior notice will be given on the website on any change of dates.
Standard Loan Scheme and Repayment Procedure: The applicant will be given an interest-free and collateral-free loan up to Nu. 1 million. Loans will be repayable within 4 years time. The entrepreneurs are normally given a grace period up to six months depending on the business. Funds will be disbursed within two months after the final results are announced, upon fulfilling all necessary prerequisites. The selected applicants will be asked to sign a loan agreement with the Loden Foundation and also present a guarantor. The funds are disbursed in two tranches and the second tranche of the funds 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.
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 is operational, the entrepreneurs shall submit a detailed written report to Loden office every six months.
What business ideas are eligible to apply?
The Loden Entrepreneurship Programme (LEP) exists to help young Bhutanese men and women who have the vision, drive and idea to set up or scale-up a business, which is economically beneficial, socially responsible, culturally sensitive and environment friendly.
The proposal will be evaluated based on the following priority criteria:
- Financial viability, able to repay the loan.
- Cultural, social and ecological sensitivity (e.g. not a slaughter house, fishery, logging, bar etc.)
- Clear and realistic (having started on a small scale is a plus).
- Social impact such as employment generation, community benefit, etc.
- Geographic suitability or regional balance: Out of Thimphu is advantageous.
- Non-duplication of LEP funded projects or project, should not be something which is already in the market and where there is no requirement for such projects.
- Entrepreneurial drive and motivation. Good business is not sufficient; we need real entrepreneurs.
- Personal commitment: Teamwork and personal investment are plus.
- Skills: understanding competition and key business figures.
Application Process:
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
- Duly filled ‘Business Plan Submission form available, which can be downloaded HERE
- Latest 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
Interested applicants must submit the complete set of documents via email in a single PDF file to ‘application@loden.org’
Applications submitted after 5:00 pm on 13th September 2021 will not be considered. Only shortlisted candidates will be contacted for the interview rounds. For any further information, you may contact Ms.Tshering Wangmo, Assistant Programme Officer, at office phone 7719-5599 or email at twangmo@loden.org during office hours.
Click Frequently Asked Questions for additional information.
