The Eswatini Youth Enterprise Revolving Fund (YERF) is a Category A Parastatal that was established by the Government of the Kingdom of Swaziland. The financial aid is targeted to young entre-preneurs who want to start new or expand businesses.
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KZN YOUTH EMPOWERMENT FUND 2021 (APPLICATION FORM)
Fund Purpose
The main purpose of the Fund is to promote youth empowerment and alleviate poverty among young people between the ages of 18 to 35 years old.
Filling of Application forms
The applicant fills in the forms providing information which shall among others include:
Attachments
The following attachments shall be necessary to accompany the submission of the application form:
Only relevant requirements shall be attached by the applicants i.e. not all the above requirements are applicable to all applications.
Loan Process
The appraisal process shall be as follows:
Funding
Size of Loans
There shall be different lending limits for Individuals, companies and cooperatives. Deviation from these limits shall be at the discretion of the youth fund in consultation with the intermediary. The following maximum lending limits shall be observed:
Loan terms to be provided
Interest rates
The fund will endeavor to price loans below market rate due to developmental mandate. Interest rates shall be categorized into the following three market segments subject to risk assessment.
Currently the Prime rate is 10.0%
Market Segmentation
There shall be different lending limits for Individuals, companies and cooperatives. Deviation from these limits shall be at the discretion of the youth fund in consultation with the intermediary. The following maximum lending limits shall be observed:
Variables | Micro | Very small | Small | Medium |
---|---|---|---|---|
Turnover (E) | 2,500 | 60,000 | 150,000 | 600,000 |
No. of Employees | 1 – 4 | 5 – 9 | 10 – 49 | 50 – 200 |
Term of Loans
While the fund does not have appetite for long term lending, it still remains a fact that development finance in its nature is more inclined to long term lending. There is therefore a need to balance need to maintain good liquidity as well as address the projects needs for its success. The term of loans shall therefore range between 12 – 36 months, subject to the size of the project as well as the nature of the project cycle. Loan repayments shall be scheduled in accordance to the production cycle of the businesses. The production cycle will differ from one business to another.
Deposit Contribution
It is enshrined in the mandate of Youth Enterprise Fund that the seed capital loans would be collateral free. The beneficiaries shall not be expected to contribute neither up front deposit nor collateral. This is aimed at maximising access to credit by youth entrepreneurs.
Coaching & Mentorship
Post funding, coaching and mentorship of the young entrepreneurs on an ongoing basis is one of the fundamental prerequisites to ensure performance and repayability of loans by the youth. The youth is often still immature and lacks experience in business management, therefore the fund will facilitate mentorship and coaching through local business development service providers.
Eswatini Youth Enterprise Revolving Fund How To Apply
Download Loan Application Form for Youth Africa Revolving Fund
For more Information: Visit Source – http://yef.co.sz
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