Eligibility Criteria

What criteria should one have to qualify for loans under Women Enterprise Fund?

1. A member must be a Kenyan Citizen of 18 years and above.

2. Must hold a valid ID document (National ID / Passport).

3. Must have a registered sim card which should have been in operation for at least 6 months and 3 months active on M-PESA.

4. All members must be of the female gender.

5. The borrower must be a member of a group.

6. The group will have a minimum of 10 members with maximum of 30 Members.

7. The group will have a guarantor system (this will be catered for by ensuring the approval process is adhered to). All members will be responsible for group loan.

8. Members must pay their default loan on the hustler products i.e., Personal Loan or Biashara Loan

9. Group Must have identified the three officials in line with their registration certificate before setting up the account.

Terms and Conditions of the loan

1. The mobile loan product will range from Ksh.50,000 to Kshs.750,000.

2. Repayment period varying from 3 to 12 months.

3. Interest rate of 3.5% p.a on reducing balance

4. Administration fees of 2.5% and

5. 5% savings component.