Women Entrepreneurs of Province 5 Complain of Hassles in Obtaining Concessional Loan

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Women Entrepreneurs of Province 5 Complain of Hassles in Obtaining Concessional Loan

February 10: Women entrepreneurs of Province 5 have said they face numerous problems in acquiring concessional loan. They made such remarks during a financial literacy programme organized by New Business Age in collaboration with Butwal Chamber of Commerce on Friday (January 31).

Nepal Rastra Bank has clearly stated that women entrepreneurs can obtain concessional loan at an interest rate of 6 percent per annum. But most of the women attending the programme said the policy of central bank was praiseworthy but they were deprived of such facilities.

They demanded that all women entrepreneurs should get easy access to concessional loan.

Sunita Sharma Banjade, who produces processed water, said she could not get concessional loan despite several efforts. She said that although the government has adopted a policy to encourage women entrepreneurship,  all such women have not been able to take benefit from the scheme.

Likewise, Liladevi Giri, who is involved in animal husbandry, said only those who are smart and have good links have access to concessional loans. This has discouraged majority of entrepreneurs, she said.

Another entrepreneur Namkala Belbase shared about the procedural hassles women have to face while receiving loan from banks and financial institutions. She said that although there is a provision of granting concessional loan to women entrepreneurs without any collateral, the entrepreneurs have not been able to take advantage of such scheme of the government.

Speaking at the programme, branch manager of NRB’s Siddharthanagar branch Rajendra Bhattarai said they have been offering concessional loans under nine different categories.

According to him, the government provides a grant of 6 percent for loans given to women entrepreneurs. He warned that action will be taken against anyone found guilty of misusing this facility.

Provincial Assembly Member of Province 5 Krishni Tharu said that the demands of the women entrepreneurs should be addressed without any delay.

Meanwhile, Tara Acharya, chairperson of Province 5 Chamber of Industries and Commerce, said that they are ready to promote the products made by women entrepreneurs.

Likwise, Jogal Bhusal of Global IME Bank Ram Mandir branch said that BFIs should follow the instructions of the central bank.

 The financial literacy programme chaired by Chairman of Butwal Chamber of Commerce Khim Bahadur Hamal was moderated by TP Bhusal, chief reporter of Aarthik Abhiyan Daily ( a sister publication of New Business Age) and Bal Singh Pokharel, New Business Age’s marketing manager.

New Business Age has been organizing interaction and training programmes for women entrepreneurs in 10 different industrial cities in coordination with the Federation of Nepalese Chamber of Commerce and Industries (FNCCI). These programmes are aimed at making the upcoming Nubiz Business Women Summit and Excellence Awards 2020 as effective as possible. The award is being organized by New Business Age on the International Women’s Day in March. Altogether six women entrepreneurs from among 1000 shortlisted from all seven provinces will be awarded in the event.

The title sponsor of the programme is Standard Chartered Bank Limited and it is being organized in association with Muktinath Development Bank. FNCCI along with chambers of 10 different districts and Federation of Woman Entrepreneurs' Association of Nepal (FEWAN) are associate partners for the event while Star Hospital is the medical partner. The programme is also supported by Sitaram Gokul Milk, Nimbus Group, Progressive Finance and Reliable Life Insurance.