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How To Apply for a COVID-19 Funds Loan

Most of Kenyan youths are skilled in various field, and some are university graduate but they didn't have jobs. Professor Magoha advice's youths to create job opportunities and not to rely on the minimal chances in government.

The issue is not job creation but the capital to start your own business has been a major problem. Government have allocated huge amount in Uwezo Fund, Youths Fund and and women Funds.

What you are required to do is to form a small group of five or more, register it with Kenya Revenue Authority and go for a simple loans this governmental organization.

How to form a group.

Form a group is not difficult, you just need to look for people who are capable of doing business or running a project that can bring back money to the group account and should be trustworthy.

How to register a group.

This is how you can successfully registere a group in Kenya.

1. Organize your self in a group of five or more.

2. Draft a group Constitution.

3. Elect group officials and to seeking registration.

4. Register with the Ministry of Labor and Social Protection. You can also fill this forms at Huduma Center.

5. Payment of registration fee. This fee varies from from 1000/= to 2000/= Kenya Shillings.

6. Obtain certificate, this takes a week the you be through.

With this successful registered group you can apply tenders in government. Banks are also giving loans to Youth groups

The World Bank has complained of low number of Kenyans applying for the Covid fund which was approved all the way in May. The fund was meant to cushion small businesses against shocks caused by the pandemic but most Kenyans have shied away from applying. Kenyans willing to apply for the fund can do so only through IFC website

You can download the form from the link below.

https://www.ifcboard.org/loans

Content created and supplied by: MarkSimiyu1 (via Opera News )

Huduma Center Kenya Revenue Authority Kenyan Magoha Ministry of Labor and Social Protection

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