Eligibility Criteria
What criteria should one have to qualify for loans under Women Enterprise Fund?
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A member must be a Kenyan Citizen of 18 years and above.
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Must hold a valid ID document (National ID / Passport).
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Must have a registered sim card which should have been in operation for at least 6 months and 3 months active on M-PESA.
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All members must be of the female gender.
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The borrower must be a member of a group.
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The group will have a minimum of 10 members with maximum of 30 Members.
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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.
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Members must pay their default loan on the hustler products i.e., Personal Loan or Biashara Loan
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Group Must have identified the three officials in line with their registration certificate before setting up the account.
Terms and Conditions of the loan
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The mobile loan product will range from Ksh.50,000 to Kshs.750,000.
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Repayment period varying from 3 to 12 months.
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Interest rate of 3.5% p.a on reducing balance
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Administration fees of 2.5% and
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5% savings component.