The Loden Foundation - The Loden entrepreneurs start to pay back

The Loden entrepreneurs start to pay back

August 26, 2009 - The first cohort of the LEP entrepreneurs has begun to repay the loan they received to start their businesses. The Loden Foundation financed seven entrepreneurial projects last year with interest free loan ranging from Nu.150,000 to Nu.800,000. “All laureates of 2008 are repaying the LEP soft loans according to the schedule which is a strong encouragement for the Foundation to support increasing number of young Bhutanese entrepreneurs in future”, says Dorji Tashi, Loden’s co-ordinator in Thimphu. One of the most successful Loden entrepreneurs is Deki Wangmo.

Deki Wangmo runs a tyre retreading unit in Thimphu. “The money I’ve received from The Loden Foundation which is without interest has contributed immeasurably to my business. I pay back every month an amount of Nu. 25,000 with my sincere gratitude to the Foundation.” Some however find it difficult to pay on time. Namgay, running a paint shop for motor vehicles, says: “I sometimes face difficulty in paying the LEP loan on time as half of my products are sold on credit and my customers pay me late.”
Meanwhile, the Loden Foundation has been receiving application for the second round of competition.

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