1. E- YES Smart
This is a
constituency based loan targeting individual enterprises belonging to a
group. It targets youth intending to start or expand own businesses.
Features of the loan:
The product will be available to individuals belonging to a group
The group must have paid the C-YES Rausha or C-YES Inua laons
Loan Amount
Start – up businesses
- 1st loan to a member is Kshs. 25,000 payable in 9 months
- 2nd loan to a member is Kshs. 50 000 payable in 12 months
- 3rd loan to a member is Kshs. 100,000 payable in 18 months
- 4th & final borrowing to a member is Kshs. 200,000 payable in 24 months
Existing Businesses
- 1st Loan to a member is Kshs. 50,000 payable in 9 months
- 2nd loan to a member is Kshs. 100,000 payable in 12 months
- 3rd loan to a member is Kshs. 150,000 payable in 18 months
- 4th & final borrowing to a member is Kshs. 200,000 payable in 24 months
The loans do not attract any interest, however 8% one off management fee will be charged
The applying individual must:Be a member of and recommended by a group of at least 8 members.
- The group must be registered with the relevant government body.
- Group Membership must be at least 70% youth (18-34 years), and the leadership 100% youth.
- Applicant must be appraised and recommended by the group members, Constituency officers and ultimately the Regional Vetting Committee.
- At least 75% of the group members must, on behalf of the group, guarantee the applicant’s loan.
- Minutes of the group indicating authority to borrow and guarantee the loan and of the YEDF Regional Committee sanctioning the application must be attached as part of the application documentation
- A maximum of 80% of the group members shall borrow at any particular time. Funding for the remaining 20% is after the first group has paid installments for the first two months.
- Youth who have serviced their loans satisfactorily can continue to be financed up to a maximum of Kshs. 100,000 even if they get beyond the statutory age of 34 to allow for transition to borrow from banks.
- The group must undergo a basic training in Business development and entrepreneurship before applying for the loan facilitated by the Fund.
2. E- YES Swift
This is a constituency based loan targeting individual enterprises belonging to a group. It targets youth intending to expand own businesses. The group must not have benefited from C-YES to access this loanLoan Amount
- 1st Loan to a member is Kshs. 50,000 payable in 9 months
- 2nd loan to a member is Kshs. 100,000 payable in 12 months
- 3rd loan to a member is Kshs. 150,000 payable in 18 months
- 4th & final borrowing to a member is Kshs. 200,000 payable in 24 months
There is a grace period of 2 months for the 1st loan, to allow business establishment
The loans do not attract any interest, however 8% one off management fee will be charged
The applying individual must:
- Be a member of and recommended by a group of at least 8 members.
- The group must be registered with the relevant government body.
- Closely knit youth group with 70% of the members having running businesses
- Group Membership must be at least 70% youth (18-34 years), and the leadership 100% youth.
- Applicant must be appraised and recommended by the group members, Constituency officers and ultimately the Regional Vetting Committee.
- Minutes of the group indicating authority to borrow and guarantee the loan and of the YEDF Regional Committee sanctioning the application must be attached as part of the application documentation
- A maximum of 80% of the group members shall borrow at any particular time. Funding for the remaining 20% is after the first group has paid installments for the first two months.
- Youth who have serviced their loans satisfactorily can continue to be financed up to a maximum of Kshs. 100,000 even if they get beyond the statutory age of 34 to allow for transition to borrow from banks.
- The group must undergo a basic training in Business development and entrepreneurship before applying for the loan facilitated by the Fund.
