YOUTH ENTERPRISE LOANS
This loan facility is designed for groups of 10 youths or individuals aged 18-35 who want to venture into a business or are already in business (including Graduates, school leavers, school dropouts with business interests)
Group Application Requirements
National IDs for all members
Letter of consent from guardians and their National ID
Bank statement for existing business
Identification letter from Village Head or local leader in an urban location
Group constitution
Sketch Map to meeting place and residence of leadership (Chairperson, Secretary and Treasurer)
Cross-guarantorship
Business profile for existing enterprises or business plans for start-up
Individual Application Requirements
National IDs for all members
Letter of consent from guardians and their National ID
Bank statement for existing business
Identification letter from Village Head or local leader in an urban location
Letter of personal guarantor
Sketch Map to meeting place and residence of leadership (Chairperson, Secretary and Treasurer)
Passport Sized Photo (Colour)
Police clearance report
Business profile for existing enterprises or business plans for start-up
ThreshHolds
-
GROUP: 1st Time borrower K500,000 to K10,000,000 • 2nd Time borrower K10,000,001 to K20,000,000 • 3rd Time borrower K20,000,001 to K30,000,0000 INDIVIDUAL: Min K500,000.00 Max K30,000,000
Tariffs and Interest rates
-
Processing fee: 3.5%
-
Insurance:1%
-
Interest: 3.0% pm
Repayment Period
-
6 to 24 Months
Turn Around Time
21 Working Days
Recent Comments