Ksh7.1 billion up for grabs as RUTO's government launches affordable loans for Kenyans in SACCOs – This is how to apply

Wednesday, May 15, 2024 – Are you in a SACCO and seriously need a loan? Well, President William Ruto’s government has you covered.

This is after it launched a Sh7.1 billion kitty for Kenyans in SACCOs in a bid to aid the recovery of Micro, Small, and Medium Enterprises (MSMEs) reeling from the impacts of the COVID-19 pandemic.

The Kenya Development Corporation Limited (KDC) announced the opening of loan applications under the Supporting Access to Finance and Enterprise Recovery Project (SAFER).

The application window, spanning 21 days, commenced on Tuesday, May 14, and will conclude on June 11.

Developed in collaboration with the World Bank, the SAFER project seeks to provide crucial access to finance, empowering businesses to fortify their operations and facilitate post-pandemic recovery.

The financial injection earmarked for MSMEs amounts to Ksh6.8 billion, with KDC proposing to extend loans ranging from Ksh10 million to Ksh500 million to each participating financial institution for onward lending.

Although specific interest rates remain undisclosed, loan tenures are set at 60 to 120 months, inclusive of a grace period of up to 12 months.

Through the SAFER initiative, individual microenterprises are poised to gain access to loans ranging from Ksh7,000 to Ksh150,000, while small enterprises will have the opportunity to secure loans ranging from Ksh150,001 to Ksh250,000.

HOW TO APPLY:

• Login: Visit the Kenya Development Corporation website at and access the SAFER Portal.
• Download Requirements: Download the mandatory requirements form provided for reference and compliance from the SAFER Portal.
• Accept Terms and Conditions: To comply with the Non-Disclosure Agreement requirement, applicants must accept the terms and conditions specified.
• Create Account: Create an account on the SAFER Portal to initiate the application process.
• Fill Details: Provide all required details in the application form and attach the necessary documents as per the provided application tabs.
• Submit Application: Once all details and documents are filled in, submit the application through the SAFER Portal.

All applications must be submitted online in PDF format within the stipulated 21-day timeframe, with hard copies expressly prohibited.

The Kenyan DAILY POST