Deadline: 22-Jul-21
The United States African Development Foundation (USADF), in partnership with the Stanbic Kenya Foundation (SKF), invites applications for grant financing and local support from small and medium enterprises, cooperatives, and producer groups to help them address gaps in their internal systems and capabilities to 100% meet investment requirements by commercial investors.
The U.S. African Development Foundation (USADF) is an independent U.S. Government agency established by Congress to invest in African grassroots organizations, entrepreneurs and small and medium-sized enterprises. USADF’s investments promote local economic development by increasing incomes, revenues and jobs and creating pathways to prosperity for marginalized populations and underserved communities.
Funding Information
Maximum Award US $50,000
Eligibility Criteria
- Applications will only be accepted from registered private entities operating in Kenya.
- SMEs to be considered are only those that are 100% African-owned and managed, legally registered in Kenya, with basic functional management and financial controls for at least 2 years and banking history of no less than 12 months. Applicants must have applied for commercial investment in the past but the application denied due to internal systems and capability gaps.
- Successful applicants must:
- Complete the standard USADF/SKF application form.
- 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.
- If selected, be willing to comply with minimum funds usage reporting requirements applicable to the grant.
- If selected, be willing to share details and evidence of why their past application for commercial investment was declined.
For more information, visit https://usadf.gov/apply