New Entrepreneur Loan to unemployed youth beyond the children of KGMAMF Members:
KGMAMF has been working in Kosovo since June 2000. It has already crossed 20 years. KGMAMF already has introduced New Entrepreneur Finance program for the children of KGMAMF’s borrowers since 2016 but there is huge Youth unemployment in Kosovo beyond the children of KGMAMF Members.
This new financial services of KGMAMF would be the program for turning the Youth unemployment into entrepreneurship. KGMAMF would like to extend its New Entrepreneur Finance program to the Youth
Detajet e kësaj kredie:
- Unemployed Youth beyond the children of KGMAMF Members;
- Youth need 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. The ceiling will be as follows;
- Loan ceiling will be from Euro 1,000 – 25,000:
- 1st phase: Euro 1000- 10,000
- 2nd phase: Euro 10,001- 15000
- 3rd phase: Euro 15,001-25,000
- Youth must have existing business or intends to startup new business and business should be environmentally friendly;
- 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.