Two hundred thirteen start-ups have been disqualified for enterprise loans. The disqualified start-ups in the first phase were out of 382 applicants for the loans, it has been said.
The Department of Industry on March 30 had issued a notice, asking the aspiring start-ups to apply for the loans as per Clause 8 of the Start-up Enterprise Loan Fund Procedure, 2079.
They have been disqualified for not meeting the eligibility criteria for the loans, said the Department. For the scheme, a start-up should have its paid-up capital not exceeding Rs 5 million, annual incomes below Rs 500,000, fixed assets (except values of real estate) not exceeding Rs 20 million and workforces not more than 10 employees.