Only 394 proposals are eligible for startup enterprise loans, why are the remaining proposals ineligible?

The Industrial Business Development Foundation has released 394 proposals eligible for start-up enterprise loans. From January 19th to February 10th, 394 proposals were included in the eligible list out of the proposals received by the Foundation.

1658 proposals were received for startup enterprise loans. 394 shortlisted projects from 1658 proposals have been called for professional presentation.
From 17th Baisakh to 3rd June, the time for the professional presentation of the eligible proposers has been fixed. You can make your presentation at the specified time and date.

Proponents of the proposals included in the eligible list will have to focus on the format as per the attachment while making the presentation. The foundation said that the presentation should be as clear as possible, to the point and per the project proposal submitted for startup enterprise loans.

The presentation can be done through PowerPoint or written on paper. A copy of the presentation must be submitted to the evaluation committee. A maximum of 10 minutes will be given for the presentation, and as per the notification published for the presentation, the presentation will have to be attended on the specified date and time.

After confirming the presentation schedule (date and time) given in the notification, you should register and sign your name at the Industrial Business Development Institute, Tripureshwar exactly half an hour before the day and time of your presentation.

If the presence cannot be made on the specified date and time, no other arrangements will be made. The official proposer must be present for the presentation.
If the official (proposer) shows a mental reason for not being able to make the presentation, the person (representative) directly involved in the project will be allowed to make the presentation in the presence of the official proposer.

At the time of presentation, the business registration and renewal certificate, PAN/VAT registration certificate, tax return 2079/80 certificate (not required for newly registered businesses), and citizenship of the official proposer should bring 1 copy of the presentation document.

According to the foundation, all expenses including travel and other expenses for the presentation should be borne by the presenter himself. It has also been said that if it is found that the evaluation committee tries to influence the selection of the project through various threats, intimidation, requests, etc., and repeatedly communicates information through phone, contact, and social media, such project proposals will be automatically rejected.

Why are other proposals ineligible?

According to Startup Enterprise Loan Operation Procedure 2080, proposals that did not meet the criteria were kept on the disqualified list.

The establishment has informed that there is no use of new technology and creative thinking in the production operation or distribution process of a product or service and as the business registration body, the Department of Industry, State Industry Registration Body and the local level perform the work by the law, so proposals that are not registered by the said bodies are not included in the eligible list. is

Among the documents to be attached along with the said proposal are ‘Certificate of Registration/Renewal of the Industry’, ‘Copy of Certificate of Permanent Account Number’, ‘Previous A.O. Proposals that do not have a copy of the tax payment certificate of 2079/80 are not included in the eligible list.

If the capital is not opened, the proposal form is not properly filled or partially filled, an entrepreneur submits more than one proposal, the details/objectives of the proposal are not clear when the evaluator studies the proposal, the past work is not mentioned anywhere and it is not seen that it is doing business in the documents submitted, it is clear that the establishment is not included in the proposal eligible list. has passed

How is the loan recommendation?

Eligible proposals selected must provide a professional presentation of their project.

The submitted projects will be recommended for loans based on the credit appraisal through the bank and those who score more than fifty points.

The recommended entrepreneurs have to make an agreement with the National Commercial Bank and repay the loan within the stipulated time as per the bank’s rules.

Recommended entrepreneurs will get loan facilities up to 25 lakhs at a 3 per cent interest rate. These are eligible offers.