CALL FOR APPLICATIONS
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 to help them address gaps in their internal systems and capabilities to 100% meet investment requirements by commercial investors.
Applications will only be accepted from registered private entities operating in Kenya.
Maximum Award US $25,000
Who is eligible?
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 had 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, routine monitoring, reporting and full disclosure requirements applicable to the grant.
- If selected, be willing to share details and evidence of why their past application for commercial investment was declined.
All applications MUST be submitted electronically to this email usadfskf@usadf.gov no later than midnight June 23rd, 2024.As part of the selection process, shortlisted SMEs will be invited to pitch.
For more details about USADF and SKF as well as application process and form, go to:
www.usadf.gov/apply/or www.stanbicbank.co.ke
CLICK HERE TO DOWNLOAD THE APPLICATION
Please beware of email scams. Please refer to the USADF website to validate any requests you receive related to applying for USADF funding. Please carefully review the country specific RFAs for the proper process to apply for funding and only send your application and supporting documents to the email address listed in the RFA document posted on USADF’s website (https://www.usadf.gov/apply).
As a reminder, there is no fee associated with a USADF grant application. USADF will not ask you for banking details to be considered for funding
For more information on the pitch process, watch the videos below: