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JIIMARISHE LOAN / SACCO-FUNDING

WEF JIIMARISHE LOAN FOR INDIVIDUAL WOMEN ENTREPRENEURS

In 2016, the Fund's Advisory Fund approved a revised FI lending channel, with key focus on women led SACCOs and SACCOs with a good credit history with the Fund, to support the SACCOs meet demand for loans from members.

Since 2017, the Fund has successfully entered into partnership with 13 SACCOS and disbursed Kshs.81.5 Million to the SACCOS for onlending purposes, thus actualising the WEF Jiimarishe Loan. Through this loan, borrowers can access individual loans at a subsidized Interest rate of 8% reducing balance per annum. The terms and conditions are as stated by respective SACCO partners. The SACCO partners are as follows:

No. County SACCO NAME
1 Nakuru NAKURU NORTH DISTRICT WOMEN SACCO LTD
2 Kiambu TAI SACCO LTD
3 Siaya BONDO TEACHERS SACCO SOCIETY LTD
4 Nairobi KENYATTA MATIBABU SACCO
5 Baringo FRIENDS WOMEN EMPOWERMENT ORGANIZATION
6 Nyeri KAPACWA SACCO SOCIETY LTD
7 Nairobi COMOCO SACCO LIMITED
8 Elgeyo Marakwet SMARTLIFE SACCO (formerly Marakwet Teachers Sacco)
9 Kiambu KUZA SACCO LIMITED
10 Machakos, Makueni, Kitui & Embu UNIVERSAL TRADERS SACCO LTD
11 Meru YETU SACCO LIMITED
12 Nyahururu VIKTAS SACCO LIMITED
13 Nairobi CHAOBA SACCO LIMITED

NB: FOR TERMS AND CONDITIONS ON ACCESSING THE WEF JIIMARISHE LOAN, KINDLY VISIT OUR PARTNERS LISTED ABOVE FOR FURTHER GUIDANCE.

FINANCIAL INTERMEDIARIES/SACCO-FUNDING FOR ONLENDING

Sacco-Funding is the on-lending component of the Fund through financial intermediary partners such as banks, NGOs, SACCOs and MFIs from which women access funds to start or expand viable businesses.In April, 2014, the Fund suspended lending through the FI channel due to challenges encountered with some of them in administering the funds to women borrowers.

The Fund on a regular basis advertises in print media and on its social media pages for Expression of Interest by SACCOs, Cooperative unions and women owned institutions for partnership in on-lending to women entrepreneurs on the following terms:

FINANCIAL INTERMEDIARIES/SACCO-FUNDING LENDING TERMS:

  1. Maximum Amount; Kshs.10 Million.
  2. Loan Tenure; 36 Months.
  3. Interest Rate; 1% per annum on reducing balance, payable on quarterly basis.
  4. On-Lending Interest Rate; 8% per annum on reducing balance.
  5. Administration fee; 2% of the loan amount.
  6. Security; Marketable collateral securities limited to bank guarantees, fixed deposits, and/or shares listed in the Nairobi Stock Exchange (NSE).

For eligibility as a partner, the SACCO/FI must fulfill the following requirements:

We are in the process of engaging more partners and the above list will be updated accordingly.