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
- A maximum of 50% of the group members shall borrow at any particular time. Subsequent funding to the next batch of members is after first loan has been serviced satisfactorily.
- 1st loan to a member is Kshs. 25,000.00 payable in 6 months
- 2nd loand to a member is Kshs. 50 000.00 payable in 12 months
- 3rd loan to a member is Kshs. 100,000.00 payable in 18 months
- There is a grace period of 2 months for the 1st loan, to allow business establishment
The applying individual must:
- Be a member of and recommended by a group of at least 10 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, EDA and ultimately District YEDFC.
- 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 vetting Committee sanctioning the application must be attached as part of the application documentation
- The group must undergo a basic training in Business development and entrepreneurship before applying for the loan facilitated by the Fund.