USADF and Stanbic Kenya Foundation Grant for Kenyan SMEs 2022 (KES 5 Million Grant) – Apply Now

USADF and Stanbic Kenya Foundation Grant for Kenyan SMEs 2022 (KES 5 Million Grant) – Apply Now

Are you a Kenyan, do you own a small or medium enterprise, do you belong to a cooperative or producer group, if yes, then the United States African Development Foundation (USADF), in partnership with the Stanbic Kenya Foundation (SKF), invites you to submit your application for grant financing and local support to help you address gaps in internal systems and capabilities to 100% meet investment requirements by commercial investors. See application requirements and link to apply below.

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Requirements

Interested and eligible candidates for this grant are to meet these requirements;

• Applications will only be accepted from registered private entities operating in Kenya
• Applicant must demonstrate that it has had basic functional management and financial controls for a minimum of 2 years.
• Applicant must demonstrate that it has been using financial institutions for all its business transactions for the last 12 months. Money transfer statements can be used to back up the bank statements.
• Applicant must demonstrate that it has in the past applied for commercial investment and met some (if not most) of the financing requirements, but the application was denied due to internal systems and capabilities gaps.
• Applicant must demonstrate that it has paid all taxes to the relevant authorities in a timely manner.
• Applicant must demonstrate that it is legally registered and has fixed premises for business operations.
• Applicant must demonstrate that it has the capacity to make at least a 50% contribution towards the cost of implementing activities under the grant funding.
• For group-owned enterprises/cooperatives, the applicant must demonstrate that it has successfully worked together for a minimum of two years, has the capability to effectively use grants funds, and the membership is in agreement on the challenges to be addressed with the grant funding and has a commitment to benefit its community.
• Applicant must demonstrate that it is 100% African-owned and -managed.
  Special consideration will be given to applications that incorporate innovative strategies and make use of new approaches and technologies.
  Special consideration will also be given to women-owned enterprises and applications that promote youth.

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Other Requirements

• Have a clearly identified and well-defined problem that can be addressed with the grant funding to make the enterprise investment-ready.
• Be able to identify a path for growth after the USADF/SKF grant ends with a clear investment plan.
• Be able to contribute at least 50% of the total cost of addressing the identified problem.
  Have a clearly defined market opportunity to grow revenues that can increase incomes.

How to Apply for USADF and Stanbic Kenya Foundation Grant for Kenyan SMEs

Interested and eligible candidates should download and complete the standard USADF/SKF
application form

After completing the form, submit your application form and financial statements together with bank statements for the last 2 years and 12 months, respectively, and a copy of your registration document to [email protected] by February 25, 2022. Applications received after this date will not be considered.

If you do not get feedback by April 15, 2022, consider your application unsuccessful.

Application Deadline

The deadline for application is 25th February 2022.

For more information on the grant, click here

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