Loden Foundation Calls for Business Proposals
[CLOSED] This post is no longer validThe Loden Foundation in partnership with Boiling Point, Society Switzerland Bhutan and Bhutan Foundation is pleased to call for business proposals from aspiring and existing Bhutanese entrepreneurs.
The Loden Foundation in partnership with Boiling Point, Society Switzerland Bhutan and Bhutan Foundation is pleased to call for business proposals from aspiring and existing Bhutanese entrepreneurs. The program shall support a wide range of entrepreneurial ventures that are innovative, viable and capacity to scale up. It is particularly important that the proposals are aligned to the national priorities of creating employment, substituting imports, and improving the resilience of the Bhutanese economy.
I. Standard Selection Process:
An independent panel of judges composed 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 April 2022 at the Loden office in Thimphu, or conducted virtually. In case of changes in timing, prior notice will be given on the website.
II. Standard Loan Scheme and Repayment Procedure:
Selected applicants will be offered interest and collateral-free loans up to Nu.1.5 million, repayable within four years. The loan will be disbursed within two months after the final results are announced and 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 loan is disbursed in two tranches. The second tranche of the loan shall be made upon verification of the proper use of money received in the first tranche and with a positive recommendation from the project monitoring team from Loden.
III. 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 bi-annual written report to the Loden office. The entrepreneurs are normally given a grace period of up to six months and are required to pay back the entire amount of the loan within a four-year time frame.
IV. What business ideas are eligible to apply?
The Loden Entrepreneurship Programme (LEP) exists to help young Bhutanese men and women who have a 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 slaughterhouse, fishery, logging, bar etc.)
- Clear and realistic
- Social impact such as employment generation, community benefit, etc.
- Geographic suitability or regional balance (advantageous to be based outside Thimphu)
- Non-duplication of LEP funded project or projects (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 a plus)
- Skills (understanding competition and key business indicators)
V. Application Process:
There are TWO application processes, please choose any ONE of the following:
1. Process A: Applicants must submit the business proposal template developed by Loden Foundation, which is available (HERE). If you are following process A, you do not have to submit the documents listed in process B, because those documents need to be attached in the same template.
2. Process B: Applicants who are submitting their own business proposal must submit the following documents:
- 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 HERE
- Latest CIB report of the applicant. If you are married, you also need to submit your spouse’s CIB report from the Credit Information Bureau of Bhutan. For further details, you may visit: https://www.cib.bt/ProductAndServices/Downloads.aspx
- CID copy
Note 1: We also encourage you to submit supporting documents (if applicable) such as lease approvals for land, proforma invoices of machinery and equipment, and applicable recommendation letters proving proficiency or recognitions, etc.
NOTE 2: If you are a returning applicant applying with the same idea, you must explicitly mention what is new in your business plan. You must also indicate if you have received or applied for funding for the same business from other funding sources.
Interested applicants must submit the complete set of documents via email in a single PDF file to application@loden.org
Applications submitted after 5 pm, 9th April 2022 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 7719-5599 or email at lhakpa@loden.org during office hours. You can also get in touch with him at his personal number at 17609035 during the lockdown and urgent times.
Contact Details
Mr. Lhakpa
Programme Officer
lhakpa@loden.org
7719-5599
17609035
The Loden Foundation in partnership with Boiling Point, Society Switzerland Bhutan and Bhutan Foundation is pleased to call for business proposals from aspiring and existing Bhutanese entrepreneurs.
SUBSCRIBE NOW
Join Dziseldra today at just Nu. 99/month OR Nu 299 for a year and unlock a world of convenience, empowerment, and endless possibilities. Don't let opportunities slip through your fingers – seize them with Dziseldra!
Subscribe OR I Already SubscribedIf you can read this, we know you are smart enough, but please don't be pathetic enough to use the service and not be able to pay Nu. 99!!! Donec et orci aliquet nisl suscipit molestie sed sit amet tortor. Duis vel urna ac mi sollicitudin lacinia mollis sit amet lorem. Sed finibus erat nec libero scelerisque fringilla. Morbi at orci sed urna vulputate vulputate. Nulla facilisi.
Donec et orci aliquet nisl suscipit molestie sed sit amet tortor. Duis vel urna ac mi sollicitudin lacinia mollis sit amet lorem. Sed finibus erat nec libero scelerisque fringilla. Morbi at orci sed urna vulputate vulputate. Nulla facilisi.
Donec et orci aliquet nisl suscipit molestie sed sit amet tortor. Duis vel urna ac mi sollicitudin lacinia mollis sit amet lorem. Sed finibus erat nec libero scelerisque fringilla. Morbi at orci sed urna vulputate vulputate. Nulla facilisi. Om ah hum baza guru pema sidi hum. Hum ugyen yul gyi nub jam tsham. Pema gyesar dongpola. yamtshen chen gyi ngedup nye. Pema Jungney Zhesu drag. Khordu Khando mangpe Kor. Choeki jesu dadrup ki. Jingyi lobchir shegsu sel. Guru pema sidi hum.
Contact Details
Mr. Lhakpa
Programme Officer
lhakpa@loden.org
7719-5599
17609035
Similar seldras
News & Announcements
Loden Spring Call for Business Proposal 2023
The Loden Foundation is delighted to announce the Spring Call for business proposals from aspiring and established Bhutanese entrepreneurs in collaboration with Boiling Point and Society Switzerland Bhutan.
News & Announcements
CALLING ALL ASPIRING ENTREPRENEURS
The Loden Foundation is pleased to call for business proposals from aspiring and existing Bhutanese entrepreneurs or community groups.
News & Announcements
Loden and Bhutan Foundation Support Bhutan Blossoms
Bhutan Blossoms is a food production and manufacturing business and is a social enterprise conceptualized and founded to solve social and environmental challenges our society faces.
News & Announcements
Loden and Bhutan Foundation Supports an Entrepreneur in Wangdue Phodrang
We are thankful to the US Agency for International Development, Bhutan Foundation, and Loden Foundation for their support.
News & Announcements
Loden Trustee Visits Lunana
The Lunaps (locals of Lunana) mentioned that May of 2021 is colder than the previous years. The heavy annual snow fall skipped the villages of Lunana in the winter of 2020 yet the mountains were covered in snow.
News & Announcements
Loden Foundation Scholarship 2021
Loden Foundation is delighted to offer the following scholarships for your journey ahead