BoB gives col­lat­eral free loan to well­ness en­tre­pre­neur

Business Bhutan - - Business - Dechen Dolkar from Thim­phu

In a first of its kind, the Bank of Bhutan (BoB) ap­proved a loan of Nu 500,000 without any col­lat­eral to a Bhutanese en­tre­pre­neur last week.

Yeshey Lhamo, 34, from Pu­nakha, put up a project pro­posal for Kukham Well­ness that pro­vides door-to-door ser­vices like steam and sauna, and hair and body mas­sage.

She was among the 50 youth who at­tended the BoB’s ‘Em­pow­er­ing En­trepreneurs – E2’ pro­gram in June this year as part of the bank’s Golden Ju­bilee cel­e­bra­tion ac­tiv­i­ties.

The bank or­ga­nized the four-day en­tre­pre­neur de­vel­op­ment train­ing pro­gram free of charge to in­ter­ested youth to en­cour­age and mo­ti­vate young en­trepreneurs to en­gage in busi­ness.

Yeshey Lhamo started the busi­ness in April this year.

KuKham Well­ness will also pro­vide out­door body treat­ments for clients and trekkers at base camps where there are road con­nec­tions. “How nice it would be to get a mas­sage by the river­side? It will in­duce peace and sooth­ing of body and mind af­ter a tir­ing day,” she said.

Yeshey Lhamo came up with the busi­ness idea as many Bhutanese have pre­con­ceived no­tions about body mas­sage and she wants to pro­mote the ser­vice as some­thing pos­i­tive that could do won­ders for a per­son’s holis­tic well­be­ing.

Dur­ing the train­ing, BoB had com­mit­ted to pro­vide col­lat­eral-free loan up to Nu 500,000 to vi­able pro­pos­als sub­mit­ted by the par­tic­i­pants. Af­ter com­plet­ing the train­ing, the par­tic­i­pants were given a month to sub­mit their pro­pos­als.

KuKham Well­ness is be­ing fi­nanced un­der this scheme as it is a unique project and as­sessed to do well.

Yeshey Lhamo will use the loan to pro­cure the equip­ment re­quired for her busi­ness.

The BoB CEO, Pema Nadik, said that through the E2 pro­gram, the BoB would like to en­cour­age the youth to con­sider ven­tur­ing into busi­ness as an al­ter­na­tive mode of em­ploy­ment.

The train­ing also al­lowed young peo­ple to share their per­spec­tives on the op­por­tu­ni­ties and chal­lenges they face and pro­vided a plat­form for them to ex­plore busi­ness op­por­tu­ni­ties to­wards sel­f­re­liance.

As of now, KuKham Well­ness pro­vides ser­vices in Pu­nakha and is plan­ning to ex­pand to other dzongkhags as well. Cur­rently, KuKham Well­ness has four em­ploy­ees.

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