Public Service and Gender CAS Rachel Shebesh called upon women and youth to apply for Government's Uwezo Funds Loan.
Shebesh spoke at the National Youth Service (NYS) headquarters on Friday, August 21, stating that beneficiaries would be given a three-month grace period before they start to repay the loans.
Uwezo Fund CEO Peter Lengapiani added that the fund had disbursed 60% of the Ksh 2 billion annual Uwezo Fund allocation.
Eligibility Criteria for Applicants.
Applicants qualify for Fund loans if;
(a) For a group
Is registered with the department of social services, Cooperatives or the Registrar of Societies.
It has members aged between 18 and 35 years whereas the women’s groups shall be made up of women aged eighteen years and above.
Is based and operational at the constituency it seeks to make an application for consideration.
Operates a table banking structure or any other group fund structure where members make monthly contributions according to the groups’ internal guidelines (evidence of monthly contributions shall be a requirement).
Hold a bank account in the name of the group.
(b) For an institution
Is a registered entity.
Has listed youth and women groups within it.
How to apply
Step 1: Ensure that you meet the eligibility criteria above.
Step 2: Fill in an application form (available from the Constituency Uwezo Fund Management Committee office, CDF Offices or download form from the Uwezo Fund website (http://www.uwezo.go.ke/download-form).
Step 3: Submit the application form together with relevant documents to the Constituency Uwezo Fund Management Committee office
Step 4: Await notification from the committee.
Eligible Amount
(a) For administration of the Fund:-
The access by eligible groups of the Fund shall be on a first-come-first-served basis, subject to assessment and approval of the loan, provided that the Committee shall ensure equitable distribution of funds in the wards.
Eligible qualifying amounts for a group shall be a minimum of fifty thousand 50,000) and a maximum of five hundred thousand (500,000) shillings at any one time.
(b) In determining the total amount a group is eligible to receive, the following criteria shall be applied:-
The length of time the group has been in existence.
The total amount contributed by the group.
The current status of contribution.
The proposed business plan for the loan applied.
Note
The eligible amount shall be three times the group savings but it shall not be:-
Below Kshs 50,000 (Minimum),
More than the amount applied for in the application form and;
More than Kshs 500,000 (Maximum).
