Finding funding has always been the most challenging part in any business. A lot of amazing ideas have been put on hold because of this major setback and everyone assumes that their business idea will never pick off from the ground due to lack of major funding behind them. Let that not stop you. We are going to show you how to get easy loan to buy a greenhouse today. According to the Amiran Kenya Website The Youth Enterprise Development Fund (YEDF) and Amiran Kenya Ltd have partnered to support young farmers in acquiring a tailor made Amiran Farmers Kit (AFK) designed specifically for the AgriVijana Loan. The AgriVijana Loan was started to help young farmers in groups, to get involved in Agribusiness by purchasing the special AFK’s each with 2 greenhouses and a large irrigated area.
The AgriVijana AFK is a complete agriculture package that comes with all the necessary equipment, seeds, fertilizers, and agro-support for successful farming. The package includes 2 greenhouses, a drip irrigation system, 400m of open field, a water tank, plant support system, Gold Medal Seeds, high-quality fertilizers, crop protection products, a farmer’s sprayer, nursery set, health and safety protective gear, training, agro-support, and AFK insurance.
Loan Allocation and Repayment Schedule
The YEDF provides a loan of Kshs. 358,344 to acquire the AgriVijana AFK, with the group expected to raise 10% of the loan amount. Repayment begins after a 4-month grace period, which can be adjusted if the crops take longer to mature. The loan is to be repaid in three cycles over a period of 3 years, with each cycle lasting for 12 months.
- The first 4 months after installation of greenhouse: Grace Period
- 5-8 months: High Yielding Season – Payment of Ksh. 17,425 per month
- 9-12 months: Lower Yielding Season – Payment of Ksh. 10,000 per month
Loan Security and Qualifications
The financed equipment serves as the security for the loan, with sales assignment and personal guarantees from group members also required. To qualify for the loan, the group must have 70% youth members (aged 18-35), with the leader being a youth and the group registered in the constituency where it is applying for the loan. Other qualifications include access to land and water, as well as knowledge or experience in agriculture. The group must also provide evidence of its ability to raise the 10% investment outlay and be registered with the relevant government ministry. Groups with sponsors or guarantors will have an added advantage.