This is a loan product at the constituency level or otherwise known as Constituency Women Enterprise Scheme (CWES). The Tuinuke loan product is given out through registered women groups interested in expanding or starting new businesses.
Tuinuke Loan has the following features:
Must be a registered self help group of 10 members and above comprising 100% women or 70 % women and 30% men. All leadership positions and account signatories must be held by women.
Must have an account in a Bank/SACCO FOSA/Post Bank/Deposit Taking Micro-finance (DTM) and must have been in existence for at least 3 months.
Groups must be trained on business management skills by the WEF officers as a prerequisite for the loan application
The loan is interest free, with only 5 % administrative fee and is repayable within one year with/a grace period of 2-1 months depending on amounts.
Graduation principle applies, 1st loan amount is Kshs.100,000, 2nd loan Kshs 200,000, 3rd loan Kshs 350,000 and maximum loan amount is Kshs 500,000
Loan applications forms are available for free from the Fund’s Regional Offices based at all provincial headquarters, the Fund’s Head Quarters at NSSF building Eastern Wing, block A on 11th, 12th and 14th floors and can also be down loaded from website, www.wef.co.ke