The National Youth Empowerment fund is aimed at creating healthier and higher-quality lives for Kenyan youth, especially the underprivileged ones. It does this by providing skill-based training in various fields of development like project management, research, ICT, entrepreneurship, etc. The fund also loans Kenyan youth either individually or as groups.
Here are the Types Of Youth Enterprise Development Fund Loans;
Business Expansion Loans otherwise known as Vuka Loans.
Talanta Loans.
Bid Bonds and LPO /LSO Financing.
Constituency-Based Loans.
Requirements For Applying For Any Of The Loans:
Applying For A Loan As An Individual;
a. In the case of partnerships, 70% of the partners should be in the age gap of 18-34.
b. The person borrowing bears all costs ie insurance costs, valuation, registration, etc.
2. Applying For A Loan As A Group;
a. A valid registration certificate from the respective government.
b. The group should consist of NOT MORE THAN five members.
c. The group members should be in the 18-34 age group.
d. The group MUST have a registered bank account for the disbursement of the money by the fund.
e. The group should submit completed loan application forms.
f. All group members must sign the loan payment guarantee.
g. The group should pay back the loan to the account provided by the Youth fund Officers.
N/B Group loans unlike individual loans have no interest but a one-off management fee of 5% deducted from the original loan disbursement.
If you meet the above-mentioned requirements then you are eligible to apply for the loan. Get the loan form from youth-fund-form.pdffiller.com.Here is how you apply;
Step i
Decide if you want the loan individually or as a group.
Step ii
Visit your nearest sub-county youth office.
Step iii
Pick the application youth fund form or download the form on the link provided above.
Step iv
Apply and return the form.
The form will be reviewed and you will be notified if you get the loan by the loan officer.
Once you get the loan, you will be trained and guided on how to make the payments in time right after vetting.
NB/ It is advisable that you use the loan for the initial intended purpose.
YOUTH ENTERPRISE DEVELOPMENT FUND CONTACTS:
Twitter Youthfund_ke
Facebook Youth Fund Kenya
Tel 020 241 4423, 020 2211 672
Email info@youthfund.go.ke
Website www.youthfund.go.ke
Comments