Having a great business idea is very close to achieving it, however having the required capital to start off a business is what transforms your business from paper and mind work to reality.
So if you have that market cracking and penetrating business idea, here are sources of funds you can easily tap and start off your business
1.KCB Lions’ Den
A TV series program that invites entrepreneurs with awesome idea to pitch their business model and ask for the required funds from Nairobi’s top millionaires willing to risk their cash.
Top investors on the show include Chris Senanu, Wandia Gachara and Darshan Chandaria.
You can register via visiting KCB Lion website on KCB main portal
2.Uwezo Funds
It is a government project meant to help young Kenyans to opt for creating their own jobs rather than looking for jobs.
What one needs to do is to come up with the business proposal and pitch for the funding. Being armed with a group of members would be a nice way to win the cash
3.Bank Loans
Top banks in Kenya such as Equity, Cooperative, KCB, DTB, BOI etc have nice lending programs to their customers.
One needs to open an active account, do some specified transactions to stand a chance of wining a loan for the business purposes
4.Sacco Loans
Saccos also provide a nice breeding ground for loans. Loans are the mosty selling part of a Sacco. Joining a sacco is a sure bet to win a loan as long as you remain an active member.
5.Mshwari loans
Mshwari quick loans are linked to Safaricom’s MPESA accounts which offer their customers with quick loans with less security.
The loans come in handy especially if your business needs a quick small boost.
6.Chama loans
Chama’s are similar to Sacco when it comes to lending. However their target objective is not similar. Chama’s aim for investment or rather collective investment but Sacco’s may solely be established for lending purposes.
However joining a Chama will hand you a quick loan as compared to Saccos
7.Youth Enterprise Fund
This is another government driven project that is supplying youth with business start up capital. This fund is channeled through a ministry dealing with youth affairs aged between 18-35 years.
8.ICDC
Industrial and Commercial Development Corporation has been in Kenya for more than six decades financing business through short term and long term so as to achieve vision 2030.
9.Women Enterprise Fund
Another lucrative fund meant however for women. But this also does not disqualify men from benefiting from the loans. They just need to have a good number of women in their business projects
10. Micro-finance
Small micro-finance institutions are also a hotspot for business loans.
Armed with your business proposal, it is easier to win the lending heart of this small ‘banks’.
However they would require some banking favors from your account prior to loan approval
Some examples include
- U&Imicrofinance,
- Faulu,
- Imarika,
- Century,
- Uwezo,Youth Fund,
- Women Enterprise fund,
- Zawadisha,
- Sumac,
- Letshego kenya,
- Opportunity kenya,
- ECLOF kenya,
- Milango microfinance,
- Musoni
- MFI,
- Bimas
- MFI,
- Plan international,
- Yehu microfinance,
- Riverbank,
- Ufanisi-AFR,
- Rupia MFI,
- Kopo kopo,
- Unaitas, Juhudi kilimo
- MFI, Window
- MFI,
- Craft Silicon,
- Planet Rating,
- Taifa MFI
- Greenland Fedha.
11.Kenya Industrial estate
KIE under the Industrialization sector aims at improving industrial sheds, subsidizing credit and improving entrepreneurial skills of small to medium size enterprises such as the Jua Kali sector.
It also grands loans from between Ksh.100,000 to Ksh 14 millions
12.Industrial Development Fund
Medium and large industrial enterprises have been getting their loans approved from this government institution since its establishment in 1973.
They offer loans inform of asset or project financing. They also help in expanding or establishing your business
13.Financial Foundations
There are also a good number of financial foundations looking to finance great entrepreneurial ideas in Kenya.
Such include KCB Lion Foundation.
14.Venture Capitalists
Kenya has also lucrative venture capitalists who are will to risk their millions in an awesome business idea.
Venture capitalists are found in business talk show forums organized across the nation.
Eg.
- Nairobi Garage,
- Seed Capital Investment,
- Savannah Fund,
- Westpac,
- Growth hub,
- Grofin,
- Monsanto Fund
- Jacana.
15.Financial Foundations
Financial foundations such as ones established by KCB Foundation also help in making business see light. Most of financial foundations are set up by banks.
Examples of such foundations
- Safaricom foundation,
- Chandaria foundation,
- Citi foundation,
- MasterCard foundation,
- Coca-cola foundation,
- Aga Khan foundation,
- Ford foundation,
- The Tony Elumelu,
- Micro loan,
- Virgin unite
- African Leadership foundation
16.Cytonn Foundation
Real Estate firm also launched a foundation meant to serve the interests of small businesses struggling with finances.
One can benefit by registering with Cytonn through their website or offices
17.Vision Fund Kenya
VFK is also a nice lending firm used to help young business men achieve through their vision in Kenya.
18.Agriculture Finance Corporation
Before independence, this entity was meant to facilitate easy transfer of land to farmers. But today it has expanded to lending and providing business support to Agribusiness ideas.
19.Blaze Be Own Boss
Safaricom idea fund meant to equip upcoming artists, talents and entrepreneurs with funding so as to kick-start their dormant career.
Blaze funding was initially launched in 2018
20.Equitel Loans
Equitel works in a similar way with Mshwari. It is allows Equity Bank members to have a quick loan before the end of the month.
Most of these loans are paid within days or months.
21.Harambees
Harambee also known as crowd funding are common measures used to help in raising business capital. One can pull a crowd and fund it
There are however common crowd funding sources one needs to know and try luck.
- Zidisha
- Kiva Cheetah fund,
- Wakibi,
- Kickstarter,
- Indiegogo,
- Appbackr,
- Quirky
- AfricInvest,
- Agrivie Fund,
- Invested Capital,
- Leapfrog,
- Eva Fund,
- Fasini,
- Enabilis
- Crowd funder
