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
-overlay.jpg)
0 Comments