To qualify for the YBSP loan, applicants must:
1. Submit a completed loan application form and provide various documents depending on the type and size of the business, including proof of identity, residence, and business registration.
2. The loan amount depends on business capacity and must be repaid monthly over 1 to 18 months.
3. Applicants must be aged 18 to 35 years old and have a business savings account with EmpowerBank.
To qualify for the YBSP loan, applicants must:
1. Submit a completed loan application form and provide various documents depending on the type and size of the business, including proof of identity, residence, and business registration.
2. The loan amount depends on business capacity and must be repaid monthly over 1 to 18 months.
3. Applicants must be aged 18 to 35 years old and have a business savings account with EmpowerBank.
To qualify for the YBSP loan, applicants must:
1. Submit a completed loan application form and provide various documents depending on the type and size of the business, including proof of identity, residence, and business registration.
2. The loan amount depends on business capacity and must be repaid monthly over 1 to 18 months.
3. Applicants must be aged 18 to 35 years old and have a business savings account with EmpowerBank.
YBSP (YOUTH BUSINESS STARTER PACK) LOAN - REQUIREMENTS
1. Loan Amount: Amount depends on business capacity
2. Repayments: Monthly (vary depending on business cycle) 3. Tenor: 1 – 18 Months 4. Required to open a Business Savings Account with EmpowerBank 5. Required to complete an EB Loan Application Form 6. Age 18 – 35 years 7. Proof of Residence (not more than 3 months old) 8. 2 Passport sized Photos for all Directors 9. Copy of IDs for all Directors 10. Detailed Business Plan 11. Past Performance Records (Income Statements, Balance sheets and Cashflow Statements, Sales Receipts, Invoices, Sales Books etc) 12. For Greenfields - Projections are required clearly stating the assumptions used in coming up with the projections 13. Loan Amount required and Loan Use Breakdown 14. Quotations for items to be funded (were applicable) 15. 3 - 6 months Bank Statement (or Ecocash Statements) 16. Proof of Ownership or Lease Agreement of the place of operation 17. References for Directors and Company from previous customers 18. Company Resolution to Borrow signed by all Directors (For registered companies) 19. Registration Documents (Articles and Memos, Certificate of Incorporation; CR2, CR14, CR6, Deed of Partnership, Constitution, Trust Deed, PBC Registration Document) 20. Tax Clearance Certificate & Operating Licences (were applicable) 21. Details of Proposed Collateral: e.g. Shareholder / Director’s guarantees; Title Deeds; Household properties, Business Equipment, Personal Guarantors, Livestock, Motor Vehicles