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THE YOUTH REVOLVING LOAN SCHEME

Background

The Social Development Fund (SDF) in partnership with the Ministry of Youths and Sports and the National Enterprise Development Initiative (NEDI), is managing the Youth Revolving Loan Scheme, a component of the National Youths and Sports Development Levy. The scheme facilitates access to affordable finance for young entrepreneurs and MSMEs with limited access to credit facilities.

Eligibility Requirements:

  • Must be a Gambian youths, as the credit scheme serves young Gambian entrepreneurs exclusively.
  • Must be within the age bracket of 18 – 35 years old (if it is a group, one member can be above 35 if justified).
  • Must be out-of-school-youth
  • Must have proof of entrepreneurship or business training from NEDI or be prepared to undergo such training with NEDI upon approval of your loan as a condition precedent to disbursement
  • Must be engaged in an economic activity/business as sole entrepreneurs or group of entrepreneurs
  • Must have a registered business.
  • Must have an operational bank account
  • Must be able to provide a simple viable business plan in a free format including a budget and a description of the management.
  • Must be able to provide security acceptable to the SDF to disburse the loan.
  •  Provide clear indication of ability to repay the loan

Loan Products

  • Two main loan facilities: Working Capital Loans (WCL) and Loan for the Acquisition of Required Machinery, Equipment and Premises.
  • For Working Capital Loans, applicants are required to provide a collateral value of 150% of the total loan value.
  • Loans disbursed for the acquisition of machinery, equipment, new premises, improvement and expansion of existing premises requires a joint registration of the items in the names of both the borrower and the SDF as a security until the loan is fully liquidated by the borrower.
  • The loan term of maximum period of 12 months (plus 3 months grace period where deemed necessary) and a minimum period of 6 months per loan cycle.
  • Lending Thresholds and Conditions: The loan amount to be disbursed to each successful applicant will depend on the nature of his or her chosen enterprise.
  • Annual interest rate of 10 percent
  • The loans approved under the scheme will be disbursed through bank transfers to the bank accounts provided by the borrowers.

How to apply
Eligible applicants will submit their applications through the SDF Regional Offices for processing. Application forms are available online on the SDF website. Electronic applications should be sent to:

  • Greater Banjul Area and West Coast Region: s.sey@sdfgambia.gm
  • Central River and Upper River Regions: a.suwareh@sdfgambia.gm
  • North Bank and Lower River Regions: j.demba@sdfgambia.gm
  • For the Head Office: info@sdfgambia.gm

Equally, interested applicants can collect and submit application forms at the SDF Head Quarters and SDF Regional Offices during working hours.

Kanifing Regional Office
Kanifing Institutional Layout
Kaninfing Municipality
Tel: +220 4399963/64

Farafenni Regional Office
Farafenni Town
North Bank Region
Tel: +220 7995284/3175284

Brikamaba Office
Brikamaba
Central River Region
Tel: +220 7345767/2287417

For any enquiries, please contact:
Mr.  Lamin Jorbateh, Director of Operations, SDF
Tel: +220 4399963/4
info@sdfgambia.gm

YOUTH REVOLVING FUND LOAN APPLICATION FORM DEC 1, 2020 (1) (1)