The Youth Enterprise Development Fund (YEDF) is a state owned corporation founded under the Ministry of Public Service, Gender and Youth Affairs. It was officially gazetted on 8th December 2006 and then converted into a State Corporation on 11th May 2007. The youth Fund is one of the primary flagship projects of Vision 2030, under the social pillar. Its vital focus is on enterprise development as a fundamental strategy that will increase economic possibilities for and participation by Kenyan Youth in nation-building.
The Kenya youth Fund seeks to create employment and job opportunities for young people through entrepreneurship and also encouraging them to be their own job creators and not being job seekers. It does this by presenting easy and affordable monetary and business development assistance services to Kenyan youth who are keen on the beginning or expanding businesses.
Qualifications for Youth fund in Kenya
To qualify for a loan with the Kenya Youth Fund, the Kenyan Youths must be in registered groups popularly know as “Chamas” from which they can come up with different business proposals and be prepared to seek financial assistance from the government via theYouth Fund Kenya.
Youth Fund loans are only awarded at the constituency level which makes it even more easy for youths in marginalized areas of the country to access and apply for the loan from their various constituency agencies known as the youths wing.
Types of Loans offered by the Youth Fund
1. Individual Start-Up Loan (Vuka Start-Up)
This type of youth fund loan targets youth who want to start commercial enterprises in Kenya. The loan is only awarded to youth with an alternative provable income and a viable business plan otherwise forget it. The loan applicant may use the loan for working capital or even purchase income generating assets.
2. Talanta Loan
Talanta loan from youth fund is granted to youth in the creative or performing arts. Loan Applicants may be partnerships, individuals, registered groups, and even companies owned and run by Kenyan youth.
Other types of loans offered by Kenya Youth fund
- Group Loans
- Expansion loans
- Agribizz loans
- Talanta Loan for individuals in
- LPO Financing loans
Check this article on how to register a business in Kenya
These are some of the key documents which must be physically presented to the youth office at your constituency level when applying for a loan from the youth fund Kenya.
- Group/Business registration certificate
- Group membership record with a copy of all member National Identification numbers.
- Minutes from the group’s previous meetings authorising the loan borrowing
- Group signatures
Note that: Individual youths can also access business expansion loans from the fund for their working capital or for the purchase of income generating assets.
How to apply for the youth Loan in Kenya
Below are simple steps on how to apply and get the youth fund
- You can either apply as a group or an Individual. All that you need to do is to visit your particular constituency/sub-county Youth offices.
- Select and fill the loan application forms correctly and attach all the required documents.
- Return the loan application form in the same office and wait for the county loans officer response
- The Loan’s officer responsible will then guide you with all other required steps.
- He will further provide training, vetting, and also guide you on how to repay the loan on time.
Loan application forms download
Youth Enterprise contacts
Address: YOUTH ENTERPRISE DEVELOPMENT FUND
P.O. Box 48610 – 00100
4TH FLOOR RENAISSANCE CORPORATE PARK,
ELGON ROAD UPPER HILL NAIROBI, Kenya
Tel: 020 241 4423 or 020 2211672,or +254 723 522841
Facebook page: Youth Fund Kenya
Always Use the youth loan for the purpose applied for.