What is Vuka loan? and how to apply for it.

LOAN NAME: Vuka

PARENT FUND: Youth Enterprise Development Fund

FOUNDED: 2006

PURPOSE: Strictly for financing business expansion.

ELIGIBILITY:

– Must be registered with the relevant government bodies.

– Membership composition must be at least 70% youth.

– Must possess business project proposal.

– All borrowers must be insured against death and permanent disabilities.

– All collateral will be insured against fire, death and theft.

MINIMUM LOAN AMOUNT: shs 100,000

MAXIMUM LOAN AMOUNT: shs. 25,000,000

INTEREST RATE: 8%

PROCESSING FEE: 1%

GRACE PERIOD:

(shs 500,000 – shs 10,000,000) – 2 months

(shs 10,000,000 – shs 25,000,000) – 3 months

PAYMENT DURATION

(shs 300,000) – 3 years

(shs 1,000,000) – 5 years

(Above shs 1,000,000) – 6 years

To apply for Vuka loan, download and fill the below form:

Mobifinancehub