The Youth Enterprise Development Fund (YEDF) has announced the availability of business loans of up to Ksh5 million for young entrepreneurs looking to start or expand their enterprises.
In a notice released on Tuesday, September 23, the fund outlined a comprehensive process for accessing these financial products, targeting youth interested in various business ventures across the country.
"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," Youth Fund stated.
According to the notice, prospective beneficiaries must follow a structured application process that begins with visiting their nearest Youth Fund county office.
Interested youth are then required to seek information regarding the most suitable loan product from county officers who provide guidance based on individual business needs.
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As part of the preparation process, applicants must agree on suitable days for entrepreneurship training and pay the appropriate fees.
Following this, they must submit a correctly filled loan application form along with all required documentation to the Youth Fund county officer.
Upon successful processing, loan proceeds will be deposited directly into the beneficiary's bank account.
The fund emphasizes that loans must be used strictly for the purposes outlined in the application, and all loans must be repaid within the stipulated timelines using appropriate payment channels as specified by the fund.
In July, the Youth Enterprise Development Fund office in Kericho distributed over Ksh5.1 million in loans during the current financial year, benefiting both individual entrepreneurs and youth groups.
The disbursement supported 25 youth groups and 29 individual business owners engaged in diverse income-generating activities, including agricultural ventures, beauty and cosmetics businesses, internet cafes, and table banking projects spread across all sub-counties in Kericho.
County Credit Officer Victor Langat disclosed that an additional Ksh4.6 million is earmarked for distribution to qualified youth groups and individuals who have completed registration and met funding requirements.
