This new Entrepreneur services of KGMAMF would be the program for turning the Youth unemployment into entrepreneurship. KGMAMF would like to extend its New Entrepreneur program to the Youth unemployment in Kosovo beyond the children of KGMAMF Members as well.
Key features of this loan:
- Unemployed Youth
- The youth needs financial support to start new business or for the existing business
- Collateral-free loans under the scheme
- Must be a permanent resident of a given area
- Age between 18 to 35 Years
- Age bar may be relaxed for female members and potential NEs but it should not be less than 18 and more than 40 years
- The business plan of NEs will be approved through the Design Lab
- Design labs may also be organized through zoom. Grameen Trust, Bangladesh may also participate in some Design Labs
- Have a dream and will force to materialize his/her dream
- Youth should have clean credit history, not be defaulter to any financial institution
- Separate loan ceiling will be fixed with the consultation of the potential youth entrepreneur and their parents
- Loan ceiling will be from Euro 1,000 – 25,000
- The duration of new Entrepreneur Loan will be from 1 to 3 years
- The rate of interest of new Entrepreneur Loan would be fixed at 18% declining
Features | Details |
Purpose | Unemployed Youth for any income generating activities |
Credit/ Loan Terms | Term of basic Loan is 1, 2 and 3 years |
Repayment | Monthly with interest and as per as the requirement |
Capacity of Loan /Size of Loan | Previous experience of work on the proposed business (if available) |
Interest Rate | 18% decline per annum |
Effective Interest | 19.56 % |