The loan is advanced to youth who have existing businesses and are able to provide security. The financing provides friendly large scale financing for business expansion to applicants (may be individual, partnerships or limited companies)
12
Youth Enterprise Development Fund -Agri-Vijana Loan
The Youth Enterprise Development Fund has partnered with Smart Solutions Africa (SSA) to support young farmers in acquiring green houses and global compliant agricultural inputs
Finances land preparation, purchase of farm inputs and implements, livestock feeds, labour finances, business stock, harvest and other agricultural activities. It offers easy and convenient repayment through the monthly pay outs.
Finances women led SACCOs and SACCOs with a good credit history for on lending purposes. Through a partnership with 13 SACCOS, borrowers access individual loans at a subsidized Interest rate of 8% reducing balance per annum.
KES 10,000,000
Reputable Kenyan SACCO/Co-operative Union/Women owned institution legally registered in Kenya.
Evidence of certificate of incorporation/registration. • Valid KRA tax compliance certificate.
Valid Trading license.
Copies of National IDs and PIN Certificates for all directors/officials.
Resolution to borrow in case of a Limited Company capturing amount, purpose, and proposed security (Must be sealed).
CR12 in case of a Limited Company.
Articles and Memorandum of Association.
Contact details i.e. postal, physical and email address of the SACCO/Co-operative Union/institution's headquarter and name of contact person for purpose of seeking clarification.
Have a minimum of three years’ experience in SACCO lending operations.
Have women- friendly products, offering financial services to urban and/or rural women enterprises (provide list of products & services offered).
Must have an appropriate governance and management structure.
Their branches geographical coverage/geographical representation by counties and constituencies.
Must submit certified copies of audited accounts for at least, the last three (3) years.
Provide a summary of their loan book portfolio.
Must have a robust automated system for their loan book management.
Must demonstrate ability to pledge marketable collateral securities: bank guarantees, fixed deposits and shares listed in the stock exchange.
Have Competent Management & Personnel; Management MUST be gender responsive. The CVs of members of the management must be attached.
Have sufficient and experienced credit staff; profile and qualification must be availed.
Statement of litigation history.
Clean Credit Reference Bureau (CRB) reports of directors/officials of the SACCO.
License from SACCO Society Regulatory Authority (SASRA), where applicable.
Borrowing Powers as approved by the Commissioner of Co-operatives, where applicable.
The business must be in existence for at least 12 months.
The minimum facility amount is KES100,000.
The debt-service ratio is 50%.
Certificate of incorporation or certificate of compliance if not locally incorporated
Memorandum and articles of association
Company PIN certificate
National identification card (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents
1 passport-size photo each for all the signatories and directors/known agents
Board resolution specifying the signing powers on the company letter head sealed with the company seal
Signed Absa account opening pack (sealed )
Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)
Company physical address confirmation (can be found in the new PIN certificates)
Annual returns (for companies registered over one year ago)
Provides accessible and efficient trade finance loans up to 70% of the value of export contracts that enables agricultural exporters to pay their farmers upon delivery of their produce.
KES 330,000,000
Financially and commercially sustainable
Size of the enterprise: minimum annual exports of USD 800,000 or the equivalent in Euros
Minimum annual turnover of USD 1,000,000 or the equivalent in Euros
Three years of track record in export
Sustainability certification (such as organic, fair trade, Utz, and Rainforest) or a conversion plan in place.
Channel farm sales proceeds directly to Transnational Bank or check off arrangements must be in place.
A minimum own contribution of 30% of asset value
Certificate of incorporation or certificate of compliance if not locally incorporated
Memorandum and articles of association
Company PIN certificate
National identification card (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents
1 passport-size photo each for all the signatories and directors/known agents
Board resolution specifying the signing powers on the company letter head sealed with the company seal
Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)
Company physical address confirmation (can be found in the new PIN certificates)
Annual returns (for companies registered over one year ago)
The bank issues letters of guarantee on behalf of customers and these facilities are subject to the same credit vetting and approval process as any other credit facility. Guarantees include all forms of guarantee commitments issued by the bank i.e. bid bonds, advance payment guarantees, performance guarantees among others.
Gives producer organisations and SMEs access to affordable financing which allows the organisations to better finance the purchase and processing of their products, which enables them to sell at better prices and under better conditions. Finances sustainable value chains in coffee, cocoa, honey, cotton, spices, nuts, peppers, soya and canned and dried vegetables. In addition we finance fixed assets, such as the extension of production lines.
Finances the missing middle - organisations that are not eligible for financing by microfinancing organisations or commercial banks.
The focus lies on the financing of farmer producers cooperatives
The Financing Gateway provides you with a free listing of the many financing instruments available for MSMEs. It enables you to filter the instruments that match your needs and click through to the –financing provider’s Internet pages or Contact agent details to find out more and apply.
Get in Touch