Essential Steps To Apply Up To Ksh. 100 Million Funding from Tourism Finance Corporation

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Essential Steps To Apply Up To Ksh. 100 Million Funding from Tourism Finance Corporation

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Tourism Finance Corporation(TFC) is the leading Development Financial Institution providing affordable and accessible financial facilities and Business Advisory Services to the tourism industry. Its mission is to develop and diversify Kenya´s tourism industry by providing a range of financial services to investors in tourism related enterprises.

Tourism Entrepreneurship is a New Opportunity area for those who have access to land and ideas on what is possible.
One can obtain both Short Term Loans from TFC or Long-Term Loans .

The most Ideal Loan is the Long-Term Loan which is repayable over a maximum period of ten (10) years. Under this scheme an applicant can borrow up to 70% of the total project cost subject to a maximum of Kshs. 50 million. (Source: http://tourismfinance.go.ke/). However, there is a New Opportunity for Funding Projects Up To Ksh. 100,000,000.00

The Projects Targeted include but are not limited to:-
Floating Restaurants inMombasa and Kisumu Zip Lines/ Adrenaline pump activities
Amusement Parks
PPP Projects at a commercial Plot in CBD
PPP projects at a Commercial Plot in Mombasa
Water fun parks

(Adventure Centre and Zip Line Designed and Built by Ujenzibora Team)

GENERAL REQUIREMENTS AS PER TFC
To qualify for our loan, an applicant must meet the following basic requirements:

Applicants may be a company limited by shares, partnership or a natural person. In case of a limited company or partnership the shareholding must be at least 51% Kenyan and in case of a natural person he or she must be a Kenyan citizen.
A venture should be tourism related project.
All the requisite loan appraisal documents must be fully provided.
A project should portray sound environmental policies and should have a National Environmental Management Authority (NEMA) certification to that effect.
A project should demonstrate commercial viability and technical feasibility.
Equity participation of 30%.

The applicant should therefore submit the following documents:
Copy of the Certificate of Incorporation/ Registration of Business Name
Copy of Memorandum and Articles of Association / Partnership Deed
Copy of the Company’s P.I.N Certificate
Copies of the I.D and P.I.N. Certificates of the proprietors/ directors
Copies of the Company’s Annual Returns
Board Resolution to borrow
Feasibility Study report/Business Plan
Copy of Approved Architectural Drawings.
Copy of Bill of Quantities (BQs)
Copy of the Title Document of proposed security free of encumbrances
Valuation report of the proposed security (NB: The Mortgage Value must be at least 30% above the principal amount)
NEMA Certificate.
Audited accounts for the last three (3) financial years
Management Accounts for un-audited period.
Bank statements for the last six (6) months.

THE OPPORTUNITY PROJECT FINANCE.
In order to prepare a successful Request for Financing, it is important for the project Sponsors or Owners to ensure the requirements are complied with. This is to ensure the project is technically sound and financially viable.

For Constrcution Projects e.g. Zip Lines, Hotel Development, Racing Trucks, Guest Houses, Swimming Pools et Cetera, Our Company can assist you prepare your project to qualify for Project Finance This will greatly boost your chances of meeting requirements from potential investors. (Not limited to TFC). If any of them is missing, our Technical Department shall be able to assist in structuring the same.:
 
Project Finance Checklist.

Project Finance Checklist.


This applies to both Capital Projects and Other Undertakings. Each project is to be treated on a case-by-case basis and this is only a Guideline
For each category of services, the Applicable Fees Apply


GET MORE INFORMATION



David Nahinga
David Nahinga
Quantity Surveyor | Owner and Director: Ujenzibora Investment Limited | Tel: +254 720578632 |

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