What is Easy-Yes loan? and how to apply for it.

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LOAN NAME: Easy Yes

PARENT FUND: Youth Enterprise Development Fund

FOUNDED: 2006

SMART

PURPOSE: Target youth intending to start or expand business.

ELIGIBILITY:

  • 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.

MINIMUM LOAN AMOUNT:

MAXIMUM LOAN AMOUNT:

START-UPS

– 1st loan ( shs 25,000 )

– 2nd loan ( shs. 50,000 )

– 3rd loan ( shs. 100,000 )

– 4th loan ( shs. 200,000 )

EXISTING

– 1st loan ( shs 50,000 )

– 2nd loan ( shs. 100,000 )

– 3rd loan ( shs. 150,000 )

– 4th loan ( shs. 200,000 )

INTEREST RATE: None

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PROCESSING FEE: 8%

GRACE PERIOD:

– 1st loan ( 2 months)

PAYMENT DURATION

– 1st loan ( 9 months)

– 2nd loan ( 12 months )

– 3rd loan ( 18 months )

– 4th loan ( 24 months )

SWIFT

PURPOSE: Financing business expansion

ELIGIBILITY:

  • 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.

MINIMUM LOAN AMOUNT:

MAXIMUM LOAN AMOUNT:

– 1st loan ( shs 50,000 )

– 2nd loan ( shs. 100,000 )

– 3rd loan ( shs. 150,000 )

– 4th loan ( shs. 200,000 )

INTEREST RATE: None

PROCESSING FEE: 8%

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GRACE PERIOD:

– 1st loan ( 2 months)

PAYMENT DURATION

– 1st loan ( 9 months)

– 2nd loan ( 12 months )

– 3rd loan ( 18 months )

– 4th loan ( 24 months )

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6 Responses

  1. I Need A Loan To Boast My Academy School In Aid Of Building Some Classes And Dinning Hall So That To Make My Pupils To Learn Well I Need Amount Of Ksh.25,000 And I Will Pay For 12months.

  2. JESKA ATIENO says:

    Your service is quick and available

  3. Julius otiaka says:

    I would like to start a business, how can you assist me?

  4. philip bondo says:

    i would like to start a business .how can i get into that?

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