This is a loan product at the constituency level otherwise known as Constituency Women Enterprise Scheme (CWES). The Tuinuke Loan product is given out to registered women groups interested in expanding or starting new businesses.
Tuinuke Loan has the following features:
- Application must be by a registered self help group of 10 members and above
- The group should be 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
Interesting things to note:
- 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, 4th loan of Kshs.500,000 and maximum loan amount is Kshs.750,000
Loan applications forms are available for free from the Fund’s Regional Offices based at all provincial headquarters. You can also visit the Women Enterprise Fund Head Offices at NSSF building Eastern Wing, block A on 11th, 12th and 14th floors. You may as well get the application form right now.1