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