Youth Fund Rolls Out Business Loans of Up to Ksh5 Million for Young Entrepreneurs – How to Access
The Youth Enterprise Development Fund (YEDF) has opened up a new opportunity for young Kenyans to start or grow their businesses with loans ranging from Ksh100,000 to Ksh5 million.
In a statement issued on Tuesday, September 23, YEDF outlined the step by step process to access these funds to empower youth across the country in various business sectors.
“YEDF provides affordable business loans and support services to youth who are interested in business. Youth can access loans to start or expand businesses as individuals or in registered groups from KSh. 100K and progressively borrow up to Ksh. 5M,” the fund said.
Prospective applicants are advised to start by visiting their nearest Youth Fund county office. County officers will guide applicants on the most suitable loan product based on their business needs and schedule entrepreneurship training sessions for which a fee applies.
Applicants will then submit a completed loan application form with all required documents. Upon approval, the loan will be deposited directly into the beneficiary’s bank account. The fund emphasizes that loans must be used for approved business purposes and repaid within the stipulated timelines through authorized channels.
In July, YEDF office in Kericho disbursed over Ksh5.1 million to support individual entrepreneurs and youth groups. The funding benefited 25 youth groups and 29 individual business owners in various ventures including agriculture, beauty and cosmetics, internet cafes and table banking projects across all sub-counties.
County Credit Officer Victor Langat confirmed that an additional Ksh4.6 million is available for eligible youth groups and individuals who have registered and met the funding requirements.
This is a further demonstration of the government’s commitment to empowering young entrepreneurs and promoting enterprise across the country.
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Youth Fund Rolls Out Business Loans of Up to Ksh5 Million for Young Entrepreneurs – How to Access