Eligibility Criteria for Applicants.
Applicants shall qualify for Fund loan application if
(a) For a group
- Is registered with the department of social services, Cooperatives or the Registrar of Societies
- Have members aged between 18 and 35 years whereas the women’s groups shall be made up of women aged eighteen years and above
- Is based and operational at the constituency it seeks to make an application for consideration
- Operates a table banking structure or any other group fund structure where members make monthly contributions according to the groups’ internal guidelines (evidence of monthly contributions shall be a requirement);
- Hold a bank account in the name of the group.
(b) For an institution
- Is a registered entity
- Has listed youth and women groups within it.
How to apply
(a) For administration of the Fund:-
- The access by eligible groups of the Fund shall be on a first come first served basis, subject to assessment and approval of the loan, provided that the Committee shall ensure equitable distribution of funds in the wards
- Eligible qualifying amounts for a group shall be a minimum of fifty thousand 50,000) and a maximum of five hundred thousand (500,000) shillings at any one time.
(b) In determining the total amount a group is eligible to receive, the following criteria shall be applied:-
- The length of time the group has been in existence
- The total amount contributed by the group
- The current status of contribution and
- The proposed business plan for the loan applied
NB: The eligible amount shall be three times the group savings BUT it shall not be:–
- Below Kshs. 50,000 (Minimum),
- More than the amount applied for in the application form and
- More than Kshs. 500,000 (Maximum)
Do you have any news or article you would like us to publish? Kindly reach us via firstname.lastname@example.org or email@example.com.