The Loden Foundation

Mr Sangay Tshering Chairperson

As usual, the Loden Foundation organized second entrepreneurship meeting on 10 June, 2011 bringing in together entrepreneurs supported by Loden. As the crucial objective of the meeting was to exchange and learn knowledge and share problems amongst each other, entrepreneurs reported to the meeting about their achievements and challenges.

It was learnt from the report that 95% of the total entrepreneurs are making substantial progress in their business ventures. However, about couple entrepreneurs were observed less progressive due to abrupt unavoidable circumstances and however striving for the best.

In continuation to the earlier meeting held on 7 February, 2011, Loden staffs and the entrepreneurs discussed on the importance and benefits of forming and expediting fellowship programme amongst the Loden entrepreneurs. To make it more efficient and speed up the show, participants unanimously elected Mr Sangay Tshering, co-proprietor of "Mops and Condoms" as the first ever chairperson for the fellowship of Loden Entrepreneurs. Mr Dorji Tashi, the co-ordinator of Loden briefed the chairperson on the roles and responsibilities and added that the chairperson will be elected annually to give everyone similar opportunity to lead the troop.

In the meeting, the co-ordinator also emphasized on the importance of paying back the loans according the repayment schedule as it enables Loden to support potential entrepreneurs. In response to it, entrepreneurs volunteered to sign and submit undertaking letter stating that if any of the entrepreneurs by any chance fails to pay back the loan shall put up with late penalty fee.

However, if late repayments are due to sudden inevitable situations should report to the office stating the facts for consideration.

It was also agreed during the meeting that every entrepreneurs would support Loden by submitting a progress report on their respective businesses on a bi-annual basis. The meeting was attended by twelve entrepreneurs.