Talanta Loan
About The Loan
The Loan is available to youth in the Creative/Performing Arts. The applicant may be an individual, registered group, partnership or companies owned and run by youth. The applicant may use the Loan for working capital or to purchase talent related equipment. Youth can access up to Kshs. 2 Million. It has no interest but a management fee of 5% of the loan amount will be deducted at disbursement. Loan amount up to Kshs. 300,000 will be secured using chattels and assets to be purchased. Loans above Kshs. 300,000 will be fully secured using conventional securities. Youth must have 2 guarantors one of whom must be in the industry.
Qualifications
- Must be registered with the relevant authorities.
- Must have a valid contract where applicable.
- For music, must have evidence of recorded audio or video or evidence of work in progress.
- Must have a budget accompanied by invoices or quotations, where applicable.
- Undertaking by the contracting entity to pay the proceeds to Youth Enterprise Development Fund
Grace Period
30 days – one (1) month from the disbursement date
Amount Financed
- For film: 70% of the value of the contract
- For equipment and accessories: 75% of the cost
- Budgeted recording, production or performance: 90% of the budget
Requirements
- Must be registered with the relevant authorized body.
- Must have a valid contract where applicable.
- For music, must have evidence of recorded audio or video or evidence of work in progress.
- Must have a budget accompanied by invoices or quotations where applicable.
- Undertaking by contracting entity to pay the proceeds to Youth Enterprise Development Fund
- Must have 2 guarantors who must provide bank statements, one of whom must be operating in the industry. In the absence of this, the applicant must provide a conventional security.