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The Industrial Business Development Foundation has requested entrepreneurs who have been selected for start-up enterprise loans to contact them within the next Chait 12 for presenting their commercial projects. The foundation issued a notification on Sunday and said that the missing proponents will be given time to present their business projects within the upcoming Chait 13, 14 and 15.
"Proposers who missed the presentation are requested to contact the institution's number or email within the next Chait 12 to get a new presentation date," the notification states, "If you do not come to the presentation on the specified date, you will be informed that you will not be given another chance." 1 thousand 314 projects have been selected for the first phase among those who have applied for startup enterprise loans by
foundation. The Industrial Business Development Foundation had issued a notice on August 11 and invited them to submit project proposals within 21 days.
At that time, 5,158 entrepreneurs submitted project proposals for startup venture loans. Among them, 1,314 projects have been selected for the second phase of evaluation. The selected projects will present a commercial proposal from December 28 to March 11. Engineer Umesh Kumar Gupta, executive director of the institute, said that 848 people had made a business presentation by the end of February. 5 thousand 158 people submitted proposals through
entrepreneurs physically and online. Out of them, 1,314 were selected. Now the business presentation is being done, after the presentation is over, we will look at the credit appraisal and publish the list eligible for lending," he said. He said that work is being done to disburse the loan by the third week of March. For
startup loans, it is mentioned in the procedure that only those who have registered an industrial business for less than 10 years, whose annual turnover is not more than 150 million and who have started a new enterprise business without merging or breaking up the existing enterprise business are eligible. Only enterprises of private firm, partnership firm, company or cooperative organization will get this loan .
