Name of the Organization : Youth Enterprise Development Fund
Type of Facility : Agri-Vijana Loan
Country : Kenya
Website : http://www.youthfund.go.ke/
Download Forms : http://www.youthfund.go.ke/downloads/
Agri-Vijana Loan:
The Youth Enterprise Development Fund is now offering the Agri-Vijana loan targeting young people keen on undertaking agri-business and more specifically, Green house farming.
Related : Youth Enterprise Development Fund Take 254 Loan Kenya : www.statusin.org/7089.html
This has been made possible through a partnership with Amiran Kenya Ltd to support young farmers in acquiring green houses and global compliant agricultural inputs that present a shift from traditional farming methods to modernized ones.
Amiran Kenya is engaged to supply the double Amiran Farmers Kits (AFKs) which is tailor made to meet the young farmers’ specific needs.
Young Kenyans aged 18-34 may apply as individuals or in groups.
Inside the Amiran Farmers Kit:
** Two green houses
** Drip irrigation system
** Water tank
** Farmers sprayer
** Gold medal seeds
** Nursery set
** Fertilizers
** Agrochemicals
** Plant support system
** Health and safety
** Group training
** Agro support package
** Amiran Farmers Kit insurance
Loan details:
Cost of Amiran Farmers Kit Kshs. 358,344
Management Fee 8%
Processing fee 2%
10% upfront contribution of the cost of the AFK
Grace Period is 4 months and may be adjusted in case a group is dealing with crops that take much longer to mature
Loan attracts no interest
Mode of repayment: By direct deposit to the YEDF bank accounts quoting the code, MPESA Service
Loan collateral:
The security of the loan will be:
** The financed equipment
** Assignment of sales
** Personal guarantees by group/individual members
Insurance:
** All group/individual members shall be insured by the Fund against death and permanent disability
** Crops shall be insured against crop failures as a result of natural forces
Eligibility: the applying group/individual must:
** Have access to land, minimum of quarter of an acre. This must be supported by documents of ownership and in absence of the documents, a written consent from the owner allowing the group/individual to use the said land for a minimum of 3 years
** Access to reliable and constant source of water.
** Knowledge or experience in agriculture
** Group/individual must be able to raise to raise the 10% of the investment outlay
The applying group must:
** Be registered with relevant government Ministry with a minimum of 10 members and a maximum of 15 members
** Be 70% youth (18-34 years)
** Be led by people who are 34 years and below
** Be residents in the constituency of application
** Be sponsored/guaranteed by a leader in the society (details of acceptable guarantors indicated in the application form).
Interested youth groups should submit the following;
** Fully completed application form (available at District Youth Office, Youth Fund Regional Offices)
** Group’s registration documents
** List of all group members certified by area chief with copies of their identification cards
** Proof of access to land
** Proof of own contribution (minimum of 10% of investment outlay)
Details and application forms can be obtained from any District Youth Office, Youth Fund Regional Offices or can be downloaded from http://www.youthfund.go.ke.
The applying individual must submit the following:
** Dully filled application forms
** Dully filled and signed chattels form. Youth will provide chattels worth at least Kshs. 200,000
** Copy of Id
** Copy of PIN certificate
** 2 passport photos
** 2 dully signed guarantors’ forms. Both guarantors MUST have a source of income, either from business or formal employment. (One of the guarantors will preferable be a parent or the person who provides land to the youth )
Other requirements:
Youth already in agriculture:
** Any reasonable evidence of ongoing agricultural endeavor by the applicant e.g. business registration, permits/licenses, agricultural business records, photographs etc
** Latest 3 month, certified bank statement (M-Pesa statements may be attached to reinforce the bank statement)
Youth with other business seeking diversification:
** Proof of other business existence e.g. a registration certificate, business permits, licenses etc
** Reasonable business records extracts
** Latest 3 months, certified bank statements (M-Pesa statements may be attached to reinforce the bank statements)
Salaried youth seeking to invest in Agri-business
** Latest 3 months pay slips certified by the employer\letter from the employer confirming that the youth is indeed employed.