Call for applications for poultry incubator loans

The Youth Enterprise Development Fund is providing youth with egg hatching incubators on credit. Young Kenyans aged 18-34 may apply as individuals or in groups.

Specifications of the Incubator

• Has a capacity to hatch 528 eggs
• Is a fully computerized automatic hatching machine
• Has a 95% hatching rate
• Automated temperature and humidity control
• Is capable of hatching all types of eggs
• Occupies little space (0.98 x 0.74 x 1.06M)

Benefits of the credit facility

• No interest will be charged on loan
• Friendlier repayment period and monthly instalments
• Warranty: 3 years for spare parts and 2 years on labour
• Marketing and linkages facilitation
• Training on handling of incubator at no extra cost
• Linkage to livestock extension officers/veterinarians

Loan details

Cost of Incubator	Sh. 198,600
Management fee: 5% (payable upfront)	Sh.     9,930
Loan amount:	Sh. 208,530
Monthly installment for a period of 36 months	Sh. 5,517 (Sh. 198,600÷36 months)

Grace period: 3 months

Mode of repayment: By direct deposit to the YEDF bank accounts quoting the code.

MPESA Service

Eligibility: The applying group/individual must:

• Have electricity and power back up in case of power outages
• In case of a group, 70% of members must be youth and all group officials must be 18-34 years
• Individual youth borrower must be 18-34 years.
• Show evidence of ability to raise 5% of the cost of the hatchery, to be paid upfront

Group applicants must submit:

• Duly filled  loan application form
• Group’s registration documents
• Copies of IDs for ALL the members
• Duly filled form by guarantors (details of acceptable guarantors is indicated  in the application form)
• Group minutes authorizing the application.
• Evidence of operating a group bank account for 3 months
• Extract of recent business records.

Individual applicants must submit:

• Duly filled  loan application form
• Copy (ies) of IDs for ALL the owner (s)

• Duly filled form by two guarantors(details of acceptable guarantors is indicated in the application form)

• Recent bank statement for those already in business and an extract of recent business records
• Or recent certified copies of bank statement for individual borrowers

Those already engaging in poultry production as well as those who are keen on undertaking the business are encouraged to apply.

For applications forms, click here .

Find the original post here  www.youthfund.go.ke/index.php/downloads/cat_view/55-incubator-loan-application-forms